Keynes remarked that:
"The theory of economics does not furnish a body of settled conclusions immediately applicable to policy. It is a method rather than a doctrine, an apparatus of the mind, a technique for thinking, which helps the possessor to draw correct conclusions."
Sounds plausible.
A question to Keinesianistas, then: Why on earth would you argue that for every recession in every country, there is only one solution that is fully anchored in one Aggregate Demand identity? And that - irrespective of the nature of the path an economy takes into a recession or its underlying causes, irrespective of the economic conditions at the onset of the recession?
"The theory of economics does not furnish a body of settled conclusions immediately applicable to policy. It is a method rather than a doctrine, an apparatus of the mind, a technique for thinking, which helps the possessor to draw correct conclusions."
Sounds plausible.
A question to Keinesianistas, then: Why on earth would you argue that for every recession in every country, there is only one solution that is fully anchored in one Aggregate Demand identity? And that - irrespective of the nature of the path an economy takes into a recession or its underlying causes, irrespective of the economic conditions at the onset of the recession?
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