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Thread: Econ 101: Keynesian Economics Is Wrong...

  1. #11
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    Quote Originally Posted by Peter1469 View Post
    https://en.wikipedia.org/wiki/Gross_domestic_product

    GDP = private consumption + gross investment + government spending + (exportsimports)
    The flaw with this is the government spending input. I would correct this by separating government spending into two groups. The first would be government spending from revenue; the second would be government spending from deficit spending.

    I would change G to Gs and Gd.

    GDP=C+I+Gs+(X-M-Gd)

    Run our last 3 years of GDP and see what you come up with!
    Yes, yes, a thousand times yes. If I were Congress I could increase GDP (and "economic growth") every year. Just don't ask me questions about the debt. GDP as it is currently calculated is largely useless. The video also make a good point about merely shifting the dollars around, for example when the government had the Cash for Cars bs going around.
    Last edited by Conley; 02-13-2012 at 10:04 PM.

  2. #12
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    Best way for government to increase growth would be to leave it the hell alone.



    I've seen Peter's formula before and it's right on. Run the numbers and your run into pending disaster.

  3. #13
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    Quote Originally Posted by Chris View Post
    Best way for government to increase growth would be to leave it the hell alone.
    My modification of GDP would give them the incentive to leave it alone.

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    Quote Originally Posted by Peter1469 View Post
    My modification of GDP would give them the incentive to leave it alone.
    If government but had a brain.


    Scarecrow: I haven't got a brain... only straw.
    Dorothy: How can you talk if you haven't got a brain?
    Scarecrow: I don't know... But some people without brains do an awful lot of talking... don't they?
    Dorothy: Yes, I guess you're right.

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    Quote Originally Posted by Chris View Post
    If government but had a brain.


    Scarecrow: I haven't got a brain... only straw.
    Dorothy: How can you talk if you haven't got a brain?
    Scarecrow: I don't know... But some people without brains do an awful lot of talking... don't they?
    Dorothy: Yes, I guess you're right.

    The Government has the same brain that those contracting for services in an anarcho-capitalist commune would have.

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    Quote Originally Posted by Peter1469 View Post
    The Government has the same brain that those contracting for services in an anarcho-capitalist commune would have.
    And how does the government/state collective have a brain? Have you been reading Hegel?

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    Quote Originally Posted by Chris View Post
    And how does the government/state collective have a brain? Have you been reading Hegel?
    The same people who enter into the contracts in an anarcho-capitalist system can be the people who run a government. My undergrad degree was in political theory so yes I did read Hegel.

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    Quote Originally Posted by Peter1469 View Post
    The same people who enter into the contracts in an anarcho-capitalist system can be the people who run a government. My undergrad degree was in political theory so yes I did read Hegel.
    And you see no difference between elite central planners making decisions everyone must comply with as opposed to individuals voluntarily contracting with each other?

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    Quote Originally Posted by Chris View Post
    And you see no difference between elite central planners making decisions everyone must comply with as opposed to individuals voluntarily contracting with each other?
    In a small community yes, I see a difference. In a community that includes 320M, no I don't .

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    The individuals making these decisions have one priority. Reelection. Anything after that is an afterthought.

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