Comments on: The weak employment situation summary for June 2009 http://www.creditwritedowns.com/2009/07/the-weak-employment-situation-summary-for-june-2009.html Sat, 21 Nov 2009 08:48:41 -0700 http://wordpress.org/?v=2.8.6 hourly 1 By: Economist http://www.creditwritedowns.com/2009/07/the-weak-employment-situation-summary-for-june-2009.html/comment-page-1#comment-5737 Economist Thu, 02 Jul 2009 17:07:42 +0000 http://www.creditwritedowns.com/2009/07/the-weak-employment-situation-summary-for-june-2009.html#comment-5737 Many have called President Obama’s stimulus plan a return to Keynesian policy. Some of us who like reading Keynes professionally or for leisure have already been scratching our heads. I have wondered in particular whether the plan isn’t set up to work in a manner completely backwards from what Keynes himself had in mind when he advocated economic stabilization by government.<br><br>There are two things to remember about Keynes’s fiscal policy proposals: 1) government spending was always linked to the goal of full employment (the absence of both cyclical and structural unemployment) and 2) to achieve macro-stability and full employment, the government had to employ the unemployed directly into public works.<br><br>Read more here:<br><br><a href="http://neweconomicperspectives.blogspot.com/2009/07/message-to-president-obama-stop-priming.html" rel="nofollow">http://neweconomicperspectives.blogspot.com/200...</a> Many have called President Obama’s stimulus plan a return to Keynesian policy. Some of us who like reading Keynes professionally or for leisure have already been scratching our heads. I have wondered in particular whether the plan isn’t set up to work in a manner completely backwards from what Keynes himself had in mind when he advocated economic stabilization by government.

There are two things to remember about Keynes’s fiscal policy proposals: 1) government spending was always linked to the goal of full employment (the absence of both cyclical and structural unemployment) and 2) to achieve macro-stability and full employment, the government had to employ the unemployed directly into public works.

Read more here:

http://neweconomicperspectives.blogspot.com/200...

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