Friday, September 16, 2016

What Keynes said

What Binyamin Appelbaum said:

Growth remains slow despite the Federal Reserve’s campaign to stimulate the economy. Predictions of faster growth, followed a few months later by disappointment, have become an annual ritual.

What Keynes said:

[We assume] the existing state of affairs will continue indefinitely, except in so far as we have specific reasons to expect a change.

What I said:
From yesterday's post: High GDP growth soon, using my lowest projection
I'm trying to come up with "specific reasons", so people can stop assuming that "the existing state of affairs will continue indefinitely".

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