Helpful Videos About Inflation, Keynes & Friedman
- Lucian@going2paris.net
- Nov 1, 2022
- 1 min read
Boom! Awesome video that explains how the different schools of economics have different explanations for inflation and different ways of curbing inflation. A+.
Macroeconomics 101 -- Keynes versus Friedman.
I thought this video was helpful in understanding why interest rates are key:
A bit more concise explanation from Mister Hanke. I think it is important to understand he is (obviously) a monetarist and there are others who have different takes. (But I find his explanation compelling.)
A bit dated but useful history to understand Friedman's perspective in 1980.
Not one of then addresses the central flaw of Keynesianism -- yes, the federal government can stimulate demand in a depression by deficit spending, but NO ONE has addressed the fact that governments are supposed to END the deficit spending once the economy recovers . . . and, over the last half century, they never did. They used to during times of war, but haven't since LBJ decided he could have both guns and butter.
Under Reagan (and Bush 41), the economy continued to grow, which generated sufficient tax revenues to offset fairly high continued federal spending, but under Obama and since, the deficits have just increased with wild abandon. Case in point -- the Federal debt was just $5.…