Deficit Owls | Keynes's Blindingly Simple Insight @deficitowls5296 | Uploaded September 2016 | Updated October 2024, 3 hours ago.
Professor L. Randall Wray discussing some of Keynes's contributions to the study of economics at the time. Part of the message outlined in Keynes's work, "The General Theory Of Employment, Interest, And Money," is a simple principle: businesses will only hire as many workers as they need to produce as much stuff as they think they can sell. The implications are, in order to get businesses to hire people, you need to increase demand for the stuff they sell. De-regulation, union busting, lowering wages, and lowering taxes will have minimal if any effect on increasing private sector hiring, if businesses don't think they can sell more stuff.
Watch the whole video here: youtube.com/watch?v=5P_J9IJqxaY
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Professor L. Randall Wray discussing some of Keynes's contributions to the study of economics at the time. Part of the message outlined in Keynes's work, "The General Theory Of Employment, Interest, And Money," is a simple principle: businesses will only hire as many workers as they need to produce as much stuff as they think they can sell. The implications are, in order to get businesses to hire people, you need to increase demand for the stuff they sell. De-regulation, union busting, lowering wages, and lowering taxes will have minimal if any effect on increasing private sector hiring, if businesses don't think they can sell more stuff.
Watch the whole video here: youtube.com/watch?v=5P_J9IJqxaY
Follow Deficit Owls on Facebook and Twitter:
facebook.com/DeficitOwls
twitter.com/DeficitOwls
