tag:blogger.com,1999:blog-2761684730989137546.post6954886829747710391..comments2024-03-28T04:13:36.779-04:00Comments on Mike Norman Economics: James Kwak — How Ideologues Use Grade-School Economics to Distort Minimum Wage Debatesmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2761684730989137546.post-58705991945915531192017-04-22T11:59:22.501-04:002017-04-22T11:59:22.501-04:00Why does James Kwak make no mention of Keynes'...Why does James Kwak make no mention of Keynes's misnamed "Effective Demand" theory (should be "Uncertain Demand" theory or something similar)? Failure to do this is a missed opportunity to debunk Libertarian economists like Hayek and Friedman. Randall Wray in his 2016 book "Why Minsky Matters" tells us that Minsky recognised Keynes's central message from "The General Theory" that market capitalist economies need "circuit-breakers" or rather I would argue "circuit-regulators."Schofieldhttps://www.blogger.com/profile/11631047494218956929noreply@blogger.com