~ Aristotle Sabouni
Created: 2022-03-11 |
- The New Deal was about increasing waste/bureaucracy and employing more people, not reducing costs or improving quality.
- The Keynesian economic theory theory (long disproven) was that by making things less efficient (requiring more people to do the same job, and injecting bureaucracy), that you employed more people, gave them more money, so more people were better off. This is called the broken-window fallacy in economics (seen benefits matter, hidden costs do not); it is wrong and rebuked in economic circles, but it plays well in the political and media spheres.
- We also know Glass-Steagall didn’t do anything valuable": which was why no other country had it, and why it was removed bipartisan support.
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Tags: Glass-Steagall/all
