September 26th, 2010
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#17
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Banned
Join Date: Jun 2004
Location: FUCK YOU!
Posts: 1,477
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Quote:
Originally Posted by Rick Ronsavelle
keynes believed that the demand for labor was inelastic, and lower wages would not produce more hiring. So state force was used to force wages above the market level, in an attempt to increase aggregate demand. In fact, the demand for labor is highly elastic- small wage drops produce proportionally more hiring, producing more purchasing power, ending the depression without the keynesian horse-hockey. To-day we need lower wages, at the market clearing level, neither above it or below it. The free market does have automatic stabilizers, which work in a fully free market, which we do not have.
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This guy looks like a kike; my kikedar is up and running with this faggot whose Jewish business practices ruined what was left of America.
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