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Old 09-21-2012, 07:28 AM
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Default Masters of Money 1. Keynes

Stephanie Flanders looks at the life and work of economist John Maynard Keynes, and how his ideas have never been more relevant or controversial than now.

In Masters of Money, produced in partnership with the Open University, BBC economics editor Stephanie Flanders examines how three extraordinary thinkers, Keynes, Hayek and Marx, helped shape the 20th century and continue to exert a huge influence on our world today. Stephanie begins by looking at John Maynard Keynes. Many argue only Winston Churchill had a greater impact on British life than Keynes over the last century. Even today his ideas remain crucial to one of the most important debates of our time: how can we escape from the economic crisis? Should governments borrow and spend their way out of trouble or slash spending and reduce the national debt?

With contributions from some of the world's leading economic thinkers including a Nobel laureate and the governor of the Bank of England, Stephanie Flanders argues Keynes has never been more relevant or controversial than now.

During his life, Keynes was credited with, amongst other things, helping to save capitalism from the Great Depression, funding the war against the Nazis and building post-war decades of growth and rising prosperity. And when the global crisis struck in 2008, it was his ideas that the world's leaders turned to to help avoid another depression.

http://www.bbc.co.uk/iplayer/episode..._Money_Keynes/
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Old 09-21-2012, 01:51 PM
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Lorian Lorian is offline
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Government nor Keynes help/helped the economy, all they did was stealing from it, and any recovery can only be due to producing people. Government nor Keynes allow them. Instead, they steal more.
Up to the point that producing people can't overcome the level of theft anymore. And then the same will happen as before, during and after Keynes: Misery, poverty, conflict. End of government. For a while. And as sure as there are lazy people refusing to help producing, new attempts will start. Gradually. As a creeping poison towards their next supercrisis, where the producing part of the population will again bring them down. Because that's what a supercrisis is: a massive decentralized NO towards the central planning.
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Old 09-21-2012, 04:47 PM
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DenariiForMe DenariiForMe is offline
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Quote:
Originally Posted by Paul S View Post
Keynes was credited with, amongst other things, helping to save capitalism from the Great Depression
The Great Depression was not caused by free market capitalism. It was caused by the same thing that causes all bust phases of the business cycle: the preceding boom brought about by artificial credit expansion.

http://library.mises.org/books/Murra...Depression.pdf

http://library.mises.org/books/Ludwi...Depression.pdf

http://library.mises.org/books/Garet...he%20World.pdf

http://library.mises.org/books/Lione...Depression.pdf

Moreover, the Keynesian policies adopted by the US government retarded economic recovery and turned what would have been just another brief depression into the Great Depression.

http://library.mises.org/books/John%...elt%20Myth.pdf
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Old 09-22-2012, 04:54 AM
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The Great Depression was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in 1930 after the passage of the United States' Smoot-Hawley Tariff

"Black Tuesday", October 29, 1929, about 16 million shares were traded, and the Dow lost an additional 30 points, or 12%,[10][11][12] amid rumors that U.S. President Herbert Hoover would not veto the pending Smoot–Hawley Tariff Act

Last edited by Paul S : 09-22-2012 at 05:15 AM.
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Old 09-22-2012, 04:33 PM
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Originally Posted by DenariiForMe View Post
The Great Depression was not caused by free market capitalism. It was caused by the same thing that causes all bust phases of the business cycle: the preceding boom brought about by artificial credit expansion.
Paper Money pushers & printers like to lie about this to maintain their control over the issuance of money.

The Great Depression was caused by artificial credit expansion aka counterfeiting claims on money aka creating IOUs that could never be paid once things turned south.
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Old 09-24-2012, 10:33 PM
warrenworthingtoniii warrenworthingtoniii is offline
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I shed tears thinking of Keynes' gift to us. What would we have done without him!
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