Re: Budget deficits and GDP



On 11/28/2007 18:54:18 Lysander <lysander@xxxxxxxxxxx> wrote:

On Nov 28, 3:17 pm, Robert Vienneau <rv...@xxxxxxxxxxxxxxxxxxxxxx> wrote:

On 11/28/2007 11:16:58 Lysander <lysan...@xxxxxxxxxxx> wrote:

...wages being sticky downward is the basis of Keynes' predictions. It
is clearly written by Keynes that he believed this to be true...

"For the Classical Theory has been accustomed to rest the supposedly
self-adjusting character of the economic system on an assumed fluidity of
money-wages; and, when there is rigidity, to lay on this rigidity the
blame of maladjustment...

...My difference from this theory is primarily a difference of
analysis..." -- John Maynard Keynes, _The General Theory of Employment
Interest and Money_, "Chapter 19: Changes in Money Wages" (1936).

Lots of stuff between those elipses. In fact, I believe even the comment
that workers will always resist the lower of the nominal wage.

John posts with complete indifference to whether what he says is true.
In short, he is lying and bullshiting.

In the end
it says nothing different from what I have said...

In John's defense, he is not fully literate.

[ John unwilling to face up to the incorrectness of his math ]
[ and unable to understand the dependence of the value of ]
[ a set of capital goods on distribution (price Wicksell ]
[ effects) - deleted. ]

...I suppose that is the difference from publishing in a
real journal that will give you tenure credit and one that is barely
ranked.

Notice that I am not the one continually pointing out this
publication of mine. John ought to seek therapy.

--
Whether strength of body or of mind, or wisdom, or virtue,
are found in proportion to the power or wealth of a man is
a question fit perhaps to be discussed by slaves in the
hearing of their masters, but highly unbecoming to
reasonable and free men in search of the truth.
-- Jean Jacques Rousseau
.

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