On the World
Observation / Unpalatable Progressives
NEVATHIR
September 14, 2018
For the past decade, progressives failed Keynesians semi-deliberately. The urge for self-promotion as the dominant opinion leader led progressives into trenches of semi-friendly fire, widely distressing common base support. Conservatives and centrists, eager to preserve their own advantageous social-political status, fuelled a overwhelming class war fending off possible progressive upswing together with Keynesian economics, at great expense of the working class.
Capital augments conservatives, together with centrist acolytes, driving uninformed naive progressive revolts to disarray. Progressive disdain for Keynesian and structural prescription, in favor of new classical prescription, as a cosmetic attempt to prettify scholarly image among deception created by wealthy conservatives who privately valued new classical progressives as idiots, generated widespread societal disrespect for Keynesians. Patients' ignorance prevailed over doctors.
Through mass media and semi-professional market news agencies, worshipped conservatives and centrists mauling Keynesians were perceived as intelligent and responsible, accusing Keynesians of squandering taxpayer money. Success was straightforward, fake economics pitching to people's economic incompetence. Ambivalent neoliberals, witnessing societal mauling against Keynesians, were reluctant to lend support to Keynesian campaign. Lack of strong counter-cyclical fiscal expansion was described as Keynesian failure, not political dysfunction.
Through progressive media, hypocritical political commentators prosecuted Keynesians for imprudence, while politicians sacrificing the general public enjoyed public reverence. Deficient fiscal adjustments and inadequate monetary aid were applauded as heroism achieved via democratic compromises. Aren't progressives so wise to recognize working class wealth deterioration also wise enough to cause it?
The consequence is outstanding economic performance from PRC, a ardent practitioner and refiner of government macroeconomic management, facing worldwide scrutiny and hostility for not being as wise as Western civilization, yet proved successful as a Keynesian. There are potential problems like excessive corporate debt, unscrupulous credit, high inflation, and foreign bitterness that require future attention, but the PRC success that triggered USA retaliation and trade war already rendered Western progressives retards, so they stressed that Eurozone recovery was much worse than USA success.
World War II was commenced by fascist Germany channelling Keynesian wisdom as USA semi-successful New Deal required massive armament correction. Thanks to advanced nuclear weapons, politicians today possess mental capacity to resist World War III much better than their ancestors, but isn't the drive to consider World War III a serious progressive academic research topic?
Keynesians bear partial responsibility for failing to recognize the distinction between good Keynesians and bad Keynesians that allowed conservatives to troll the hell out of ethical progressives with moral supremacy. If 1984 doesn't remind Keynesians the need for a careful revision of government intervention guidelines, the Great Recession debacle likely will remain a systemic feature for centuries. Should progressive Keynesians listen?