J.M. Keynes & U.S. Economic Policy Reformation

John Maynard Keynes (1883-1946) was a Cambridge homosexual scholar of the first rank in Economics considered revolutionary by some. Keynes believed governments should just say 'charge it' and pile up debt with stimulus spending to 'pump prime' a moribund economy locked into a stalemate of stagnation or recession.

Common sense and dead reckoning at the macro-economic level is necessary for the salutary adjustment of national economic interests. In some instances national leadership has it, and at other times or in other nations it is lacking. J.M. Keynes in some ways seemed to understand a fundamental dynamic between sateuthority and corporate interests in addition to free enterprise, capital and monetary theory. Theroretical dogmatism is a kind of bureaucratic inertia ploughing ahead in spite of the lack of correspondence of theoretical models to the real world situation. Some politicians and economics believe they might make or create reality by the force de majeure of power usually precipitating disastrous economic consequence. In wonder to what extent J.M. Keynes intuitively abstracted relationships in his era; how far his sketch notes in mind reduced to set theory the macro-economic players.

In some ways organizations of any sort-regardless of their capital assets can be reduced to symbols of personnel, and those in Venn diagram representation in power levels. Beyond these diagrams of organizational personnel we see the x's and o's of men and women citizens in the nations that if critical of the larger organizations and overlapping affiliated networks of people attack in some ways the citizens. They can do that because they have so much economic power to control national capital asset flows. The Chinese Red Army it is said controls tens of thousands of quasi-corporations in China, Wall Street corporations have interlocking shareholders with the majority of stock owned by less than 5% of the U.S. public. J.M. Keynes may have been aware that democracy and it's people falling outside the circles of insiders with economic and political power can occassionally rectify locked up economic policy with clever measures such as brief deficit/stimulus spending (that doesn't work repeatedly any more than repeated heart electroshock works for protracted heart treatment).. Obviously where and how the money is spent matters-if it goes to the same people that created the problem it is unlikely to create much relief. What a J.M. Keynes would do in the present global circumstances of invariant corporate and communist hegemony over free interpose and democracy is hard to say. Every economic advance tends to be along lines that enrich the rich and concentrate wealth too efficiently to allow a sustainable economic advance. Quantitative materials resource increase is required to expand corporate profits...Wall Mart prices seem to be going up now that they have driven so many out of business with low prices. As the U.S. economy was conquered by trans-national corporations the U.S. Congress acted to willingly as cheng di yu -'fish at the bottom of the ocean' or foreign agents seeking to enrich China and/or trans-national corporations. Those symp senators are the cause for U.S. dependence on ffreign manufactured fossil fuel burning vehicles and for oil products from Saudi Arabia, Libya and places in the dar al harb. Toyota prius technology could be scaled down an electric converablet mini-cars for commuter use getting 100 miles per gallon equivalent in electricity costs for a plug in electric reasily could be made. Congress could have encouraged American manufactures to produce such and made smaller roads at less cost on which vehicles over a certain weight were banned. The cheng di yu in the sneante banned alternative energy Independence in favor of the Exxon-Mobils and G.M. Suv's, the Hallibutrons in Dubai and Dubain Royalty powers. They look in economic lust uphill toward Tehran and the vast gas fields of Iran wondering how they can co-opt the first-strike nuclear genocide seeking lunatic president in order to invest sufficiently to get a cut of the take from new Iranian prosperity they dream of. J.M. Keynes would have recognized the many fallacies of classical economics when trans-national corporations fill economic policy more full of leaks than the Titanic after hitting the iceberg popping its many cheap rivets.
Keynes wrote several works the most important of which was the 'General Theory on Employment, Interest and Money'. The approach to economics dealt with several ongoing issues of the era in the unique Keynesian formula. Hicks later created the SI-LL aka IS-LM model to portray Keynesian ideas. These theories are about markets, timing, savings and production relationships along with money flows. Needless to say flat-earth abstract modeling of economies are good for bureaucrats that continue on long past it's period of relevance too often.

The Keynesian method seems to work fairly well if the applications are of a short term nature of borrowing, and if the debt is repaid. The post- Regan era supply side economic neo-Keynesianism had the downside of a slide into scholastic sloppiness with theorists explaining that debt doesn't matter for the United States. Debt for second and third world countries mattered to the world bank and other lending institutions, and bad large scale loans to poor countries would eventually be paid for with public debt financing to buy the bad debt. Voodoo economics was okay if you are the most powerful nation militarily ion Earth.

The resort to crank Keynesian in the 1990's and first decade of the 3rd millenium had the U.S. Congress gullibly accepting the premise that continuing significant deficit spending with long term stagnant repayment rates would be the best way to 'stimulate the economy' as if the infusions of cash to banks, consumers, insurance corporations and others by the trillions of dollars was a kind of heart restarting shock treatment or brain shock treatment to restart or reboot the disc drive of economics. Instead the Keynesian deficit spending by the government principle was a kind of syrupy sweet methadone to the heroine addiction of globalist investing abroad, and for corporations of a trans-national nature without any real loyalty to, or dependence upon the economic well being of the United States. While Keynsianism might have been practical in an insular English economy of the post-war era, or in the United States when the economy was far more independent of globalism and world trade and trans-national corporations far more limited in scale. in the post-cold war political and economic environment Keynesiansm became more than a stimulus of an individual national economy and grew into becoming a perennial prop for a decadent non-renewable fossil fueled economy profiting trans-nationals and the neo-totalitarian Chinese economy adapting itself to several aspects of capitalist production in a time when capitalism has regressed into the neo-oligarchic sickness of global corporatism. John Maynard Keynes would probably not suggest deficit spending today as the remedy for the non-renewable, confused global economy of today.

http://homepage.newschool.edu/het//profiles/keynes.htm

http://homepage.newschool.edu/het//texts/keynes/gtcont.htm