>>12315021There are too many variables. However, we do very much understand basic economics. The problem is you have a bunch of pseudointellectual political pundits that don't like basic, and obvious economics they come up with some convoluted explanation to support their preconceived notion about how they think things should work. They other factor is just that they government likes these explanations because it allows it to wield it's power and to take credit for things.
Keynesianism was a mistake. But even the Nu-Keynsian stuff would make Keynes roll over in his grave.
There is also another interesting fact in that the more famous an economist is to the public, the less likely their predictions are to come true. Which is why I now present to you, New York Times columnist Paul Krugman:
The only economist stupid enough to have a yearly cruise in his dishonor for people who think he's an idiot.
