Why does nobody here understand basic economics? Do you all browse

>>1541430


i don't get how you can say Keynesianism is still viable.

Either you never thought it was viable or you still do.

Its a school of though, it doesn't change viability.

>>1541434
>Its a school of though, it doesn't change viability.
Schools of thought can be proven to be wrong. That's true in just about every science.

>>1541452

ok, but if thousands of Economics PHDs are still arguing about it I don't think its been proven right or wrong yet.

Also, because Economics isn't a hard science, its possible that in some societies or countries Keynesiasm could be effective and in others it could be worthless depending on specific tastes and cultures.

>>1541499
>ok, but if thousands of Economics PHDs are still arguing about it I don't think its been proven right or wrong yet.
You realize that the US Fed is the largest employer of Economics PHDs in the country, and even all those bigwigs couldn't predict the economic crash of 2007-2008?
>Also, because Economics isn't a hard science, its possible that in some societies or countries Keynesiasm could be effective and in others it could be worthless depending on specific tastes and cultures.
The German Historical School (proto-fascism) thought that. The GHS is also dead and disproven.

Schools of thought may have pieces that are wrong or right, but there is no half-baked notion that what works in x country may not work in y. Basic conomic principles, such as diminishing returns for example, remain constant.

>>1541499
Economics is a meme degree, and anyone that believes spending is the main engine of an economy should off themselves.

>>1541646
I'm glad you know so much about economics as to label it a "meme degree".

>>1541430
Well it depends on the trade. Outsourcing jobs benefits corporations, the out-of-country workers, and the consumers of the product. Unfortunately if you outsource every job then there won't be any consumers.

Keynsianism is still viable? Uhh, I guess? I mean it has more to do with boom and bust cycles and the fed regulating the money supply... which they seem to do a pretty good job of. I mean, they saved us from a complete and total market collapse during the financial crisis.

Higher min wage prolly won't fix poverty. But hopefully it'll help degenerates with 15 kids feed those kids (yes, I've taken economics, I understand that all else constant price floors end up creating supply droughts but that's not a realistic scenario)

>>1541654
>Well it depends on the trade.
Not really.
>Outsourcing jobs benefits corporations, the out-of-country workers, and the consumers of the product. Unfortunately if you outsource every job then there won't be any consumers.
No. Outsourcing occurs because labor can be had with less regulation and for cheaper. That's a problem with systems set in place by the government and the reaction of businesses to those systems.
>Keynsianism is still viable? Uhh, I guess? I mean it has more to do with boom and bust cycles and the fed regulating the money supply... which they seem to do a pretty good job of.
>pretty good job
I'd hate to see your definition of a bad job then. They are complete screw ups who practically created the mess we have now.
>mean, they saved us from a complete and total market collapse during the financial crisis.
"Saved" us from their own wrongdoing.
>Higher min wage prolly won't fix poverty. But hopefully it'll help degenerates with 15 kids feed those kids (yes, I've taken economics, I understand that all else constant price floors end up creating supply droughts but that's not a realistic scenario)
You obviously didn't pay enough attention in your classes. If you raise minimum wage beyond what a business is willing to pay workers, the business will fire workers or replace them with automized systems, and raise the price of their goods accordingly to offset the cost of paying more wages. "Degenerates with 15 kids" will just end up on more welfare, and their 15 kids (who will make up the +50% of people in minimum wage jobs) won't even be able to find a job because this price floor has created a gap between the labor demanded by businesses and the labor supplied by people looking for a job; a shortage.

This is a very real problem today. People want more money in-pocket, but what they really want is more spending power.

>>1541667
>You obviously didn't pay enough attention in your classes. If you raise minimum wage beyond what a business is willing to pay workers, the business will fire workers or replace them with automized systems
*IF they are cheaper

I forgot to write that. You can find news articles about a working burger machine that would replace McDonald's workers who want that large wage hike because it does their job faster and cheaper.

>>1541654
Based. but on your minimum wage thing, slot of that is to do with Americans being stuck with poorly paid/skilled service jobs only being available because medium wage 'industrial jobs' have been outsourced to more compatible country's. Although if you did bring those industry's back into America they would have to make better cars and machinery than the Chinese do at the moment

>>1541633
>>1541646
Not an argument