“Was not their mistake once more bred of the life of slavery that they had been living?—a life which was always looking upon everything, except mankind, animate and inanimate—‘nature,’ as people used to call it—as one thing, and mankind as another, it was natural to people thinking in this way, that they should try to make ‘nature’ their slave, since they thought ‘nature’ was something outside them” — William Morris

Saturday, February 21, 2015


Nick, quantitative easing just is Keynesianism. (That dare not speak its name.) EVEN the ECB is now a little bit Keynesian. And it's the only reason why we didn't have such a bumpy ride in the US. Because austerity was blunted by longer QE and a (not big enough) stimulus. Poor Europe.


Anonymous said...

OK. But you say THAT wasn't as bumpy a ride? Holy shit. Poor Europe indeed.

Anonymous said...

However, I'm not sure that just any QE can necessarily be called Keynsian, which is a word that gets thrown around a lot but is actually a more specific and detailed formula (though yes, it does of course include QE). We have absolutely nothing like it in the US, unless you count the way the Pentagon funds spending on military hardware, and we haven't since before we were born...and even that was "Keynes Light", which tasted great but was less filling. Jokes aside, until someone starts talking about funding industrial production with a tax on the wealthy (including research & development), there's no call to be using the K word. I'd love it if someone DID talk about that, but if anyone has, you're the first I'd be hearing it from.