Comments by "BlackFlagsNRoses" (@blackflagsnroses6013) on "" video.

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  3.  @tomlxyz there are a rather minuscule ideological group of liberal economists that claim the New Deal worsened and elongated the Great Depression. And while they have interesting things to say and some complicated points, the general consensus is that Keynesianism has been instrumental in the building of the thriving middles classes of Western countries in the postwar period. The neoclassical synthesis (NCS), neoclassical–Keynesian synthesis, or just neo-Keynesianism was a neoclassical economics academic movement and paradigm in economics that worked towards reconciling the macroeconomic thought of John Maynard Keynes in his book The General Theory of Employment, Interest and Money (1936). It was formulated most notably by John Hicks (1937), Franco Modigliani (1944), and Paul Samuelson (1948), who dominated economics in the post-war period and formed the mainstream of macroeconomic thought in the 1950s, 60s, and 70s. Afterward the neoliberal backlash took the reigns of institutional influence and lead to the collapse of labor unions and strong domestic economy. The hallowing of the middle class began with the neoliberal doctrine taking hold of fiscal and economic policy on western nations for the globalization emphasis of corporate interests. It was made clear that Keynsian economics built the European social democracies and elevated the class status of the working and middle classes. Though there is also a conservative movement in Europe that supposed social democratic reforms in the form of Christian Democratic parties.
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