Swaminathan S Anklesaria Aiyar says nothing blunder in Keynes Theory in Building infrastructure.
Count yourself how many blunders:
When we all realised that the demand has fallen and nothing is in saving the depression. Then where is the guy called “Keynes realised that a recession was caused by excess saving, which drove down demand and GDP in a vicious downward spiral”.
When the spiral is dead in economics? “To escape the spiral, Keynes proposed government action to boost consumption and end over-saving. The government could boost its own spending through public works. Or else it could cut taxes to boost private consumption”.
Except printing paper money nothing is spend by government “own spending” the rest is a theft from the people’s pocket.
It is not only irony but big blunder to say “governments should run large fiscal deficits during a recession to pump more demand into the economy”.
Nothing is balance under the rope of state. Of course there are many…..
The so called infrastructure projects will no turn up to boost for at least another six months.
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