A Keynesian approach aims at recovery of the labor market to
keep up the price of labor as much as possible and, if possible, to actually
diminish inequalities of income and wealth by enlarging the share ordinary
folks get of the economic pie.
The point of anti-Keynesianism is the exact opposite – to pull
the rug from under the labor market, drive down compensation, and increase inequality
by beating up the working class and ordinary people in general for the sake of the rich.
Hence the “austerity” approach to the recession of 2008 and
its lingering sequelae.
In fact, not all of us even think of a recession as a bad
thing, in net.
Far from it!
Hence the enduring popularity on the right of the debt
ceiling.
Hence also the enduring popularity of a balanced budget amendment aimed at insuring future tax revolts and
tax cuts have to result in immediate
reductions in government spending.
Reductions conservatives suppose they will always be strong
enough to take out of the hide of American social democracy and the progressive,
regulatory state.
Not a bug, I say.
A feature.
No comments:
Post a Comment