Thursday, May 22, 2014

The Differences Between Keynesian and Neoliberal Economics Made Simple

The basic laws of Keynesian Economics:

1. Supply and Demand (this includes demographics)
2. If a person starves to death even if there is plenty of food available because they can't afford to pay themselves enough to pick up the food, they are insane (generalize to societies).
3. If it is physically impossible for something to occur, it won't (changing the relative rate of taxation on capital gains be damned).

The basic laws of Neoliberal Economics:

1. Everything is always guaranteed to get better and better, even if it is obviously getting worse, Because Markets!  (Can I have my check now?)

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