There was an interesting comment in another thread about W being a Keynesian. I see it slightly differently.
Under Clinton the invisible hand of Smith's Wealth of Nations continued to allow real wealth to be amassed within the US. George probably expected this to continue, but whether by natural exhaustion or his own policies, this failed to happen.
He borrowed and borrowed, but the receipts didn't come in fast enough. Now you have to pay for the Keynesian debt. The price could be high, it already is for many. For sure, some US Corporations will continue to make huge profits, but they are unlikely to see US shores.
What do you think?
Under Clinton the invisible hand of Smith's Wealth of Nations continued to allow real wealth to be amassed within the US. George probably expected this to continue, but whether by natural exhaustion or his own policies, this failed to happen.
He borrowed and borrowed, but the receipts didn't come in fast enough. Now you have to pay for the Keynesian debt. The price could be high, it already is for many. For sure, some US Corporations will continue to make huge profits, but they are unlikely to see US shores.
What do you think?
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