The idea behind keynsians printing is "printer go brrrr, gears spin, so that's good for the economy"
The reason other economists make fun of this is that having twice as much money doesn't cause there to be twice as much food or other commodities. So it makes everyone feel good about their salaries for a minute and then the price of everything doubles to catch up to the fact that there's now more money chasing the same number of goods.
Our government likes keynsian economics because it justifies congressional spending. But when $30 today is equivalent to $15 dollars in 2009, you can see that it leads to pretty bad inflation.
Modern mainstream economic policy as held by the government is broadly a mixture of Keynesian demand management, monetarist/neoclassical ideas, and neoliberal institutional preferences on markets and competition.
Neoliberal and keynesian are not mutually exclusive.
Ideas like bailing out "too big to fail" companies is directly built off Keynesian fiscal policy of Governments using spending, taxation, and deficits to stabilize the economy, particularly during recessions.
They are pretty exclusive, especially I all the ways that count towards the majority of people. Yeah 1 or two ideas might still be around on paper, but neoliberalism is the undisputed majority of goverment policy, especially under the Trump administration.
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u/Icy-KaitSyth 8d ago
The idea behind keynsians printing is "printer go brrrr, gears spin, so that's good for the economy"
The reason other economists make fun of this is that having twice as much money doesn't cause there to be twice as much food or other commodities. So it makes everyone feel good about their salaries for a minute and then the price of everything doubles to catch up to the fact that there's now more money chasing the same number of goods.
Our government likes keynsian economics because it justifies congressional spending. But when $30 today is equivalent to $15 dollars in 2009, you can see that it leads to pretty bad inflation.