bogus comments on Request for advice- Reading on politics - Less Wrong
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Comments (26)
Yes, but Keynesian recessions are a monetary phenomenon, caused by a shortfall in M*V (the quantity of money times its velocity of circulation). "Job creation" programs increase M*V (by increasing V), but they do so in an inefficient way; thus, they actually forgo some crowding in which would occur under more efficient policies.
I do broadly agree w/ the rest.
I agree completely. I only meant to point out that there are economists who would object to portions of the book, not that I'm one of them.