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View Diary: Why do conservatives hate Keynes (55 comments)

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  •  Keynes represents public policy that favors the (7+ / 0-)

    many instead of the privileged few.  It's spelled out a little bit in this quote.

    I believe that we are at the threshold of a fundamental change in our popular economic thought, that in the future we are going to think less about the producer and more about the consumer. Do what we may have to do to inject life into our ailing economic order, we cannot make it endure for long unless we can bring about a wiser, more equitable distribution of the national income.

    --- FDR, not Keynes, May 22, 1932

    From industrialization, approx. 1880 to the start of FDR's administration, there was a back and forth struggle between the privileged few and the many. Maybe it was clearer at that time that a few wealthy predators could do a lot of damage to people and to the stability of the nation.
    The collective power of the people expressed through the government was the only protection that could stand up to the tremendous power of concentrated wealth.

    FDR's quote hints at the formula needed to create a broad and prosperous middle class.  It doesn't happen by itself.   Progressivism must have a seat in the government working for We the People who create consumer demand and jobs so that prosperity spreads itself horizontally.  

    The interests of the privileged few hate this system.  We call them conservatives and they find a home in the Republican and Libertarian parties.  

    There is no existence without doubt.

    by Mark Lippman on Sat May 11, 2013 at 05:45:36 PM PDT

    •  And as such is anathema to establishment (2+ / 0-)
      Recommended by:
      ozsea1, Klusterpuck

      Dems as well.

      From here on out, no one can escape the havoc wrought by the unmitigated Class, Climate and Terror Wars.

      by Words In Action on Sat May 11, 2013 at 08:59:34 PM PDT

      [ Parent ]

      •  That's an opinion. / (0+ / 0-)

        There is no existence without doubt.

        by Mark Lippman on Sun May 12, 2013 at 07:53:52 AM PDT

        [ Parent ]

        •  Establishment Dems (1+ / 0-)
          Recommended by:
          Klusterpuck

          like Rahm are financial elites who share more in common with the rest of Wall St than they do with the average progressive on the street. When pressed to unravel their arguments, you will see that they agree with Romney on the 47% in many ways. And they are much more inclined to preserve the status quo of neoliberal capitalism than truly reforming it.

          From here on out, no one can escape the havoc wrought by the unmitigated Class, Climate and Terror Wars.

          by Words In Action on Sun May 12, 2013 at 09:09:22 AM PDT

          [ Parent ]

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