Post
Topic
Board Economics
Re: Were the Keynesians wrong?
by
twiifm
on 25/01/2015, 23:47:59 UTC
Nope.  Try to pay attention.  I wasn't trying to prove anything except how utterly ridiculous it is to cite a micro example to illustrate a macro principle.

My evidence is a hundred years of economic data and the entire economics profession having consensus on this point.  Since you take a fringe and controversial position its your burden to prove not me.

https://www.stlouisfed.org/On-The-Economy/2014/August/The-Gold-Standard-and-Price-Inflation

Even Hayek conceded this point.  Only the fringe like Mises and Rothbard thinks otherwise