How effective can military keynesian be now?
Not very...at any rate, the market doesn't seem to think it would be very effective; have you noticed how it swoons everyt ime we come one step closer to war?
The US economy is very open, so much of the demand leaks out. Unlike the world of WW II, the US is not using goods that are produced using technology comparable to durable consumer goods. Instead, it depends more on very high tech, with relatively little labor demand; suggesting that it will shift wealth more toward the rich, lowering the boost to aggregate demand. --
Yup.
Joanna
Michael Perelman Economics Department California State University Chico, CA 95929
Tel. 530-898-5321 E-Mail michael@xxxxxxxxxxxxxxxxx
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