David_TheMan
Banned
You don't understand the way Keynesian economics works to make the first half of your statement. It's not like you just start it, and we all shoot upwards to peak employment. When you have a supply of labor, you increase the demand for it, by increasing the demand for items/commodities that demand labor. Again, common sense. This is why you see the need for unions rise, until everyone is satisfied, which all indications of the 1950's, outside of minorities says they were. Hell, they were so satisfied that a counterculture movement started. Once sated, the supposed need for unions started dropping, while the right wing was setting up its next strike. They would be had no chance in hell, if botch ass LBJ didn't refuse to run again because of Vietnam. He gave the presidency to Nixon.
As far as your second half, the Israeli crises caused the oil spikes. It was a steady variable for Keynesian, but such a hard spike threw the math off. We haven't tried trusting it again, because the Right Wing has been in charge since the 1970's.
I understand how Keynesian economics is run and I understand the principles it operates under, so I don't really understand what you are trying to critique when you claim don't understand.
Labor isn't one homogenous supply first off so your initial statement is wrong, different industries have different needs in laborers that everyone will not meet, so the supply for a given job is constantly in flux, not to mention the financial stablity of the company producing in that industry and the competition it faces in terms of workers from other firms in that industry or if there is overlapp with other industries. So your blanket contention has some serious holes in it.
Your comment on labor has no connection to your attempt to link it to the rise of union membership, which still never amounted to more than mid 30% of the total us private workforce.
Counterculture movement have nothing to do with economic analysis of Keynesian economic, min wage, nor austrian economics. Its a rather pointless aside.
Yom Kipor war didn't cause an increase in oil, even the largest US friendly oil exporter in the region at the time, Iran, said it was because of the out of whack monetary policy of the US that lead to the oil increase. That monetary policy being the delinking of the currency with gold to allow increased spending no longer limited by having to maintain even the tneous connection it had with actual gold backing.
when its clear i was using money as a substitute for value, because money is the form which value takes in our economic system, giving people more value does result in more consumption = more growth.
