Progressive Keynesians as Reaganite Trickle Downers?
Posted in Macroeconomics, You Can't Have it Both Ways on Oct 19th, 2010
Orthodox Keynesianism preaches that spending is the driver of economic activity (never mind Say’s Law or Arnold Kling’s idea of PSST). What does such a view imply? Well, the idea is that if people, including the rich, increase their consumption of goods, then it promotes the consumption of goods by all the people in the […]
