Despite the fact that the civil

Despite the fact that the civil war broke out and the people's power actively defended it, what is the reason why the Democratic Party's approval rating lags?

Will the Democratic Party ever find the root cause? Lee Jae-myung, the party leader, asked me to find the cause, but I'm worried because I think I'll point out the wrong thing as the cause. This is especially true because the Democratic Party has never seen real progress, or scientific socialism.

It is easy to see that the Democratic Party is far from scientific progress just by asking the government to formulate and implement a large supplementary budget for economic recovery. This is due to the fact that there is no instance in world history where fiscal expansion has revived the domestic economy. It is scientific socialism and real progress that abandon what is already unfaithful in reality.

The reason why fiscal expenditure cannot revive the domestic economy has been revealed to some extent in current economics. In short, fiscal expenditure cannot grow the economy because of the construction effect.

There is also one more economic principle that the current economics has not yet revealed. In other words, fiscal expenditure is mainly put into areas that the private sector turns away because of its low profitability and productivity. Therefore, as fiscal expenditure increases, the average productivity of the national economy decreases, and marginal productivity is negative. Since the marginal productivity of fiscal expenditure is negative, the growth rate of the national economy decreases.

Of course, the macro theory based on Keynesian economics still teaches that fiscal spending increases economic growth. But this is incorrect. Countries that adhere to Keynesian theory—that is, countries that implement fiscal deficit policies—have relatively low growth rates, and eventually have fallen into stagflation.

In fact, from the 1950s to the 1970s, the United States and the United Kingdom actively implemented the Keynesian policy, but from the 1970s, they fell into a swamp of stagflation. In addition, it resulted in economic lag behind Germany and Japan, which were defeated.

In the early 1980s, the United States had to raise its benchmark interest rate to 21.5% in order to address the stagflation that occurred. It is easy to see how much economic pain the 21.5% high interest rate would have caused, even though now the 5% base rate is high.

Therefore, advanced economies such as the United States rarely seek economic recovery through fiscal deficits or increased fiscal spending. However, when a vicious cycle of reduced production occurs, as in the case of the financial crisis, fiscal expenditure is increased to block the vicious cycle. This is just a policy prescription for treatment, not health promotion.

The Democratic Party needs to study the economy a lot more. It is frustrating because it is not yet aware of the historical transformation of economic policy.

Mint chocolate has a far better sense of animals than experts. People have a good sense of animals that the economic policy direction of the Democratic Party will not revive the economy but rather lead to disaster. Even in the current favorable political environment, the Democratic Party's approval rating is bound to fall behind. Please, Harry. I am worried about how terrible things will happen if I take power with such skills. Just like the Moon Jae In administration.