The View From 1776

Human Motivation

Can human behavior be programed by social engineers and economic planners?

Posted by .(JavaScript must be enabled to view this email address) on 03/25 at 04:31 PM
  1. "Programed by social engineers?"

    Most economists believe that demand is related to price, and that price and supply are related. For most commodities, when the price goes down, the demand goes up!

    You may describe that as sinister programming, but most believe that is rational market behavior.

    When goods are purchased, that engenders more economic activity. To deny these principles is idiotic.
    Posted by .(JavaScript must be enabled to view this email address)  on  03/25  at  08:01 PM
  2. The problem for Keynesians, Mr. Jay, is that too few people make purchases, because they are uncertain or frightened by the vitriolic speeches and legislative and bureaucratic threats to their way of life.

    Yes, demand is related to price. But first there must production of goods and services, i.e., creation of real wealth. Flooding the economy with fiat currency with rapidly falling exchange value (i.e., government stimulus programs) does nothing to create wealth or jobs.

    Keynesian social engineers, ignoring historical experience, remain firmly convinced that, if they pump out enough phony money, people will be fooled into believing that all is well and that prosperity has returned.
    Posted by .(JavaScript must be enabled to view this email address)  on  03/25  at  10:28 PM
  3. That is the chicken and egg question, isn't it, Tom, whether "first there must be production of goods"?

    We Keynesians point out to you supply siders that no manufacturer will invest in plant, buy raw materials, hire anybody or turn out any goods until there is demand.

    First you must have demand. Then in response to demand, you will have production. NOT the other way around.
    Posted by .(JavaScript must be enabled to view this email address)  on  03/26  at  10:15 AM
  4. Mr. Jay:

    "We Keynesians point out to you supply siders that no manufacturer will invest in plant, buy raw materials, hire anybody or turn out any goods until there is demand.
    First you must have demand.
    Posted by .(JavaScript must be enabled to view this email address)  on  03/26  at  10:32 PM
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