We are all Keynesians now

Charles Brown charlesb at CNCL.ci.detroit.mi.us
Fri Jun 5 11:28:35 PDT 1998


Charles Brown asks: What is the real economic significance of the national debt ? Here "debt" does not have its common sense meaning does it ? On the otherhand the U.S. state is the pawn of the banking aristocracy.

Was Reagan's running up the national debt to 3 trillion dollars the result of his super-Keynesianism, the greatest deficit spending ever ? And isn't Keynesianism the bourgeois political economic name for the British and U.S.government policy form of state-monopoly capitalism, imperialism's answer to it's crisis by changing to neo-imperialism ? If Clinton is ending deficit spending, that fists with all of the other signs of a new stage of imperialism, post-Keynesianism or superimperialism, transnational imperialism.

One might say that the financial oligarchy of old has become a financial monoarchy, with the leading, kingly role of the U.S. in the new transnational capitalist aristocracy. The US -led realm has expanded even more widely than following WW II into the former communist countries of Europe and the semi-communist countries of the eastern hemiisphere.

We were all Keynesians then. Now what are "we" ? Kings ?


>>> michael perelman wrote: on the occasion of submitting his budget, he
[Nixon] proudly announced, "Now I am a Keynesian"."

By the way, Reagan was perhaps the most Keynesian president we have ever had.



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