by Alex Tabarrok
on November 2, 2010 at 12:07 pm
in Economics, Education
Hat tip: Stephen Miller.
Shame on me. I had preconceived Mickey Mouse Hitler to be the judgmental type.
Although I'm a knee jerk liberal chicago hatin keynsian, I honestly dislike 99.9% of our population. morans.
Funny, but cruel (not unlike so many Tea Party videos).
Funny! Though it did sound like the interviewer was intentionally fudging his pronunciation of the word to be "Ken-sian" a few times. Also, wouldn't surprise me one bit to see an "Obama is a Keynesian" rally sign at a Tea Party as a typo/misunderstanding, when they actually did mean Kenyan.
It is a shame this film crew didn't run into the photo shoot discovering their inner economists…
Goes to show that the Daily Show audience isn't any more educated than the "masses" they like to sneer at.
1) Given a large enough crowd you can always find idiots;
2) You can selectively edit to elicit a predetermined response;
3) That video is HILARIOUS!
Actually, the Daily Show audience is more educated than average. There was some sort of study if I recall correctly.
Pretty funny… But how many teapartiers know who Keynes is? Here's some classic scary footage to remind y'all of the alternative:
Wordup to BV (above): "1) Given a large enough crowd you can always find idiots;"
Isn't Keynsia down the road from Serfdom?
How could Obama be a Keynesian? He didn't push for a stimulus that would actually fill the output gap. He also didn't mandate running a surplus after getting out of the hole.
Those are the key tenets.. without those, you've got nothing to call him a Keynesian.
BV nails it on the head…
Basically, smart people know dumb people put too much emphasis on education. Correlation. Intelligence causes education moreso than the other way around.
If you have to have a stimulus equal to the recession, first you couldn't. Because the recession is at least partly real, and especially not in a debt crisis. Second, that means there are about 15 Keynesians in the country. We aren't talking just "bigger" we are talking $Trillions. Krugman's view that we can cause a new boom without having high unemployment is well taken (although misguided IMHO). However, there is no proof we could afford it not even counting the potential for interest rate spikes. Print the money? Inflation isn't a free lunch. Also, all those homebuilders cannot be employed building homes (and other credit-based jobs). I haven't heard anyone, even Krugman, propose an actual plan of what would actually be done.
I agree with Unsympathetic. I think Keynes was at least partly joking when he suggested outright wasting money, using a reductio ad absurdum to make his point. But, taking it as a literal lesson seems like the only lesson the politicians took from him. That's why they didn't call for sanity before, have no concrete (and concrete) plans now, and aren't advocating a plan for sanity going forward. Not even the Keynesians are Keynesian.
I was at rally with a copy of Keynes' "General Theory…" in my bag. If they had asked me I would have offered to give them the book so they could decide for themselves.
Thank you again for all the knowledge you distribute.This blog very fun .thank you for your share .
@scot, i think you mean "morons".
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