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Text File  |  1992-11-21  |  1.5 KB  |  37 lines
  1. Newsgroups: sci.econ
  2. Path: sparky!uunet!uchinews!ellis!thf2
  3. From: thf2@ellis.uchicago.edu (Ted Frank)
  4. Subject: Re: A Supply Side Call to Arms
  5. Message-ID: <1992Nov22.054743.7324@midway.uchicago.edu>
  6. Sender: news@uchinews.uchicago.edu (News System)
  7. Reply-To: thf2@midway.uchicago.edu
  8. Organization: University of Chicago Computing Organizations
  9. References: <0#F=S+-@engin.umich.edu> <56352@dime.cs.umass.edu> <m2F=Rj+@engin.umich.edu>
  10. Date: Sun, 22 Nov 1992 05:47:43 GMT
  11. Lines: 24
  12.  
  13. In article <m2F=Rj+@engin.umich.edu> jwh@citi.umich.edu writes:
  14. >In article <56352@dime.cs.umass.edu>, yodaiken@chelm.cs.umass.edu (victor yodaiken) writes:
  15. >|> What form of Keynsianism suggests that all government spending is
  16. >|> equivalent? 
  17. >
  18. >Perhaps the form originally espoused by Keynes himself?  I believe
  19. >that Keynes claimed that *any* spending by government would be
  20. >beneficial.  
  21.  
  22. Every Keynesian model I've seen distinguishes between government
  23. investment and transfer payments.  This may not have been Keynes who
  24. did this, but Keynesian economists certainly do.
  25.  
  26. >I think the example he gave concerned hiring workers
  27. >to dig a hole to bury gold and then hiring people to dig it back
  28. >up again.
  29.  
  30. I have yet to see evidence that Keynes proposed this seriously.
  31. The excerpt Bret posted looked very much tongue-in-cheek, and I'd
  32. love to see the three pages before and after that example.
  33. -- 
  34. ted frank                     | thf2@ellis.uchicago.edu 
  35. standard disclaimers          | void where prohibited
  36. the university of chicago law school, chicago, illinois 60637
  37.