Advertisements

Keynes on NPR

john20maynard20keynes20by20duncan20grant

Keynes by Duncan Grant

I am working on some posts about John Maynard Keynes and Keynesian economics as they relate to our current economic situation. For now I want to draw your attention to a profile of Keynes done on NPR’s Morning Edition last Friday. In many ways Keynes best represents my view within the schools of political economy, in particular I have a particular affinity for the left-leaning Keynesianism of Paul Krugman. More to come.

Advertisements

Comments

  1. i look forward to your posts. I had never read Krugman until a few months ago and thought to myself, hey, this guy makes sense. I particularly enjoyed him taking George Will to the shed on This Week a few sundays back.

  2. Krugman is great. I have been reading him more lately. I have not followed him as closely because I read the Washington Post rather than the NY Times. In a way we are all Keynesians to some degree. Krugman represents a purist Keynesian perspective and as a result he is on the far left of American politics. In Europe he would be a centrist on economics.

  3. I just finished The Conscience of a Liberal and loved it. I read his columns now whenever I get the chance.

  4. I have not read that book yet. A number of people, including Robert Reich, have written books on the meaning of liberalism lately. I think that it has been a valuable exercise for liberalism. Of course, as a political philosopher recognize a need to articulate liberalism for a more general audience. We are not so good at it.

  5. Bullshit! I suggest you read /listen to Murray Rothbard on Keynes. Go to mises.org and search for Rothbard. Keynes was delusional. He was a child in an adult body. Read of all Keynes and you will see for yourself. Here is a primer from Rothbard, audio for those who would rather learn by a passive means rather than an active one:
    http://mises.org/media/2875

    p.s. Krugman is just another misled fool with an Ivy League post who likes to hear himself speak. He knows nothing about economics. Understand scarcity and the division of labor. In short, if you don’t read von Mises you will never understand economics. Wealth CAN NOT be created out of thin air. Fiat currencies have always failed and will continue to do so. ie: Germany in 1919. The paper, fiat currency was so worthless people were heating their homes with it. Look at Zimbabwe today. Keep printing paper “money” and watch it die.

  6. BS,

    What an appropriate name for you.

    “Keynes was delusional. He was a child in an adult body.”

    This from the guy who goes by a profanity and uses a fake email. Thanks for my daily does of libertarian crazy (redundant, I know).

  7. Chris – Bullshit is right – although a bit abrasive. When you read Austrian economists through its relatively short history, it goes like this…

    Austrian Economist: “If you do A, B will happen.” (A is something like a free market-busting low interest rate, expansion of a program, etc… ) and B is for Bad things. Unemployment. Retreating economy. Reduction in the value of our currency.

    Guess what? Government ignores the warning and continuously does “A” and “B” happens, EVERY TIME! Libertarian crazy? Nah… Prescient? Pretty much.

    As for me? Team Hayek.

  8. OK – so I’ll ask you to prove that Austrian Economics is illogical, doesn’t work, it’s foundational thoughts are off kilter. Any actual proof… maybe some graphs?

    Next, can you prove where Keynsian economics really – REALLY – worked?

    That’s some pretty basic questioning… one example of each, is all I’m asking.

    Saying “Mises and Hayek were BS artists” isn’t really a compelling argument.

    • Rather demanding aren’t you. My post has nothing to do with Austrian economics, which I view as more a weird cult than a serious theory. When dealing with libertarianism, I prefer to deal with the political philosophies of Nozick and Kukathas.

      I actually reject the idea that any economic approach can be proven. Hayek is indeed interesting, but it is not true, because truth is not relevant to the discussion here.

      Graphs? Dude, the post is about an NPR profile of Keynes as intellectual figure.

      Thanks for stopping by. This blog has been inactive for a while and I have been blogging elsewhere. What brings you here?

  9. Sorry for the demanding tone! I guess this blog is your property and want to respect ‘property rights’. 😉

    My response was to the specific statement “BS is BS” – honestly, guys who just bark out bad vibes when somebody disagrees with them doesn’t do anyone any good. But it was also to the general “Austrian Economics is BS” statement.

    That comment was a little frustrating… but ultimately, this WAS a post about how money has been extracted from me without my permission and used to subsidize a media outlet that will be featuring a segment on an economist who, shockingly, put forth the intellectual argument that it’s good thing to take people’s money against their will to fund other media outlets. Right? Half joking there…

    So, not demanding, but curious if there’s been any practical application of Keynesian policies that haven’t ended up in reduced currency values, unemployment and bad times. I can’t think of any. Doesn’t mean they don’t exist…

    It’s tough to show examples of Free Markets succeeding since it’s so difficult for governing bodies to keep their hands off the markets. Almost all capitalism is a centrally managed, corporatist, fiat money funded abortion today – but I can think of some examples. Won’t go into them unless you really, really want me to.

    Also, I just noticed the funky date stamp out to the side. Guess I was a little late to this discussion.

    Lastly, just remembered Nozick, whom I haven’t thought of in a while! Gotta give him a re-look. And not familiar with Kukathas. Just gave a quick check and seems kinda interesting.

    Thanks,

  10. The entire post is as follows:

    “I am working on some posts about John Maynard Keynes and Keynesian economics as they relate to our current economic situation. For now I want to draw your attention to a profile of Keynes done on NPR’s Morning Edition last Friday. In many ways Keynes best represents my view within the schools of political economy, in particular I have a particular affinity for the left-leaning Keynesianism of Paul Krugman. More to come. ”

    Sorry, for responding to you in the way I did. My response to Mr. BS above was because a total stranger crashed into my blog using a fake email and profanity. No much interested in considering his argument.

    I actually do not dismiss Austrian economics as completely bogus. Kukathas (now at LSE) was my master’s chair at Utah. He, like me, is a political philosopher. He wrote a book about Hayek in which he claims that Hayek is part of the larger Kantian political tradition. Theories of political economy are just perspectives. No government has ever live purely by one school of thought or the other. This is particularly the case in a democracy, as it should be.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: