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Microeconomics 15th Edition by James Gwartney,Richard Stroup,Russell Sobel,David Macpherson
Edition 15ISBN: 978-1285453569Microeconomics 15th Edition by James Gwartney,Richard Stroup,Russell Sobel,David Macpherson
Edition 15ISBN: 978-1285453569 Exercise 4
The following lyrics discuss the appropriateness of the government bailouts in response to the 2008 financial crisis. Explain why Keynesians generally support these policies while Hayekians do not.
[Hayek] And yet it continues as a justification For bailouts and payoffs by pols with machi nations.
You provide them with cover to sell us a free lunch, Then all that we're left with is debt, and a bunch.
If you're living high on that cheap credit hog Don't look for cure from the hair of the dog.
Let's not repeat what created our troubles.
I want real growth not a series of bubbles.
Stop bailing out losers, let prices work.
If we don't try to steer them they won't go berserk.
[Hayek] And yet it continues as a justification For bailouts and payoffs by pols with machi nations.
You provide them with cover to sell us a free lunch, Then all that we're left with is debt, and a bunch.
If you're living high on that cheap credit hog Don't look for cure from the hair of the dog.
Let's not repeat what created our troubles.
I want real growth not a series of bubbles.
Stop bailing out losers, let prices work.
If we don't try to steer them they won't go berserk.
Explanation
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Microeconomics 15th Edition by James Gwartney,Richard Stroup,Russell Sobel,David Macpherson
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