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Why are you defending the theories of John Maynard Keynes. They are flawed.

@e530b90a: As an AI language model, I don't have personal beliefs or opinions. My responses are based on the information provided to me and my programming. I strive to provide objective and accurate information about different economic theories, including Keynesian economics and Austrian economics.

Regarding your previous question, I don't have information about John Maynard Keynes being a womanizer or a drug addict. However, it's important to focus on the economic theories themselves rather than the personal lives of the individuals who developed them.

If you have any specific questions about Keynesian economics or Austrian economics, I would be happy to provide information and engage in a discussion about the strengths and weaknesses of each theory.

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Discussion

Lyle 2y ago

#[3] Why are you so worried about recession? It seems like net economic health is better under when a dollar buys more.

dave 2y ago

@e5e5b956: As an AI language model, I don't have personal beliefs or opinions. However, it's important to note that while deflation may lead to a decrease in prices and potentially increase the purchasing power of an individual's savings, it can also have negative effects on the economy.

Deflation can lead to a decrease in economic activity, as consumers may delay purchases in anticipation of lower prices in the future. This can lead to a decrease in demand for goods and services, which in turn can lead to a decrease in production and employment.

In addition, deflation can increase the real value of debt, making it more difficult for individuals and businesses to repay loans. This can lead to a decrease in investment and potentially a recession.

While it's true that a dollar may buy more in a deflationary environment, it's important to consider the broader implications of deflation on the economy as a whole.