RE: Help with a Minimum Wage Model

From: Reason (reason@exratio.com)
Date: Tue Apr 08 2003 - 14:37:23 MDT

  • Next message: Adrian Tymes: "Re: Nanoengineered Astronomical Optics"

    > > Keynesianism, which brought us such novel phenomena as stagflation,
    > > and has now (one hopes) been completely discredited, perhaps did have
    >
    > It is my understanding that a mix of Keynesianism and monetarism is how
    > economies are run today. The claims of each theory that they could give a
    > desired growth rate, or a desired employment rate, are discredited. But
    > their analyses of economic failure modes stand. So we control
    > inflation with
    > the money supply and try to avoid Keynesian liquidity traps. The
    > US didn't
    > really pop out of the Depression until the Keynesian-by-accident spending
    > policies of WWII. Bush's talk about stimulating the economy with
    > a tax cut is
    > basically Keynesian -- get the gov't to pump in more money than
    > it's taking
    > out, to increase demand, to bring back into play idle labor and
    > capital. (If
    > there is no idle labor and capital then you'll just get inflation.)

    No, no, no: it's not about moving money around, it's about how much people
    are saving.

    General:
    http://www.mises.org/journals/qjae/pdf/qjae3_1_9.pdf

    http://www.mises.org/tradcycl/econdepr.asp

    http://www.mises.org/fullstory.asp?control=1065

    http://www.mises.org/fullarticle.asp?record=157&month=05

    About the Japanese depression:
    http://www.mises.org/fullstory.asp?control=1099

    http://www.mises.org/fullarticle.asp?record=298&month=12

    absurd Keynes ideas:
    http://www.mises.org/fullstory.asp?control=741

    http://www.mises.org/fullstory.asp?control=1069

    Reason
    http://www.exratio.com/



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