Defense Budget: Too Big

FDR Was No Keynesian

John Maynard Keynes Русский: Джон Мейнард Кейнс Türkçe: John Maynard Keynes (Photo credit: Wikipedia)

John Maynard Keynes and FDR were contemporaries. Keynes, of course, fathered macroeconomics. FDR fathered what is known as the New Deal. But the real stimulus was World War II itself. FDR was not someone who had read up on Keynes, and then got into office and applied the ideas. He did the New Deal based on his political instincts. His populist impulse was massive deficit spending in the face of a huge recession. And it worked.

What I call globoeconomics, I have been calling since 2008, I don't have the economics/finance background to put a theoretical spin to, but the political part of it is fairly obvious. Here too perhaps the dog can wag the tail. You build a genuine world government, and globoeconomics will flow out of it.

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