Comments on: John Maynard Keynes: The Damage Still Done by a Defunct Economist http://www.thefreemanonline.org/columns/john-maynard-keynes-the-damage-still-done-by-a-defunct-economist/ Ideas on Liberty Wed, 15 Feb 2012 06:29:20 +0000 hourly 1 http://wordpress.org/?v=3.3 By: stop spam plugin http://www.thefreemanonline.org/columns/john-maynard-keynes-the-damage-still-done-by-a-defunct-economist/comment-page-1/#comment-62237 stop spam plugin Wed, 08 Feb 2012 04:01:39 +0000 http://www.thefreemanonline.org/uncategorized/john-maynard-keynes-the-damage-still-done-by-a-defunct-economist/#comment-62237 <strong>Spam Stop...</strong> [...]usually posts some very interesting stuff like this. If you’re having a hard time with spam links, this should help 100%[...]…... Spam Stop…

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For everyone that discredits Keynesian economics, he revolutionized economic thinking which influenced and expanded this social science. Here is an article from CNN exemplifying how his theories were incorrectly utilized under the Obama Administration but successfully used in other administrations.

http://money.cnn.com/2010/02/04/news/economy/meltzer_keynes.fortune/

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]]> By: What was the question? #tcot #teaparty | Tea Partisan http://www.thefreemanonline.org/columns/john-maynard-keynes-the-damage-still-done-by-a-defunct-economist/comment-page-1/#comment-35463 What was the question? #tcot #teaparty | Tea Partisan Fri, 19 Nov 2010 22:23:38 +0000 http://www.thefreemanonline.org/uncategorized/john-maynard-keynes-the-damage-still-done-by-a-defunct-economist/#comment-35463 [...] seems a student of now-defunct economist Maynard Keynes fell asleep in class.  Keynes was upset by this, and shouted to wake the [...] [...] seems a student of now-defunct economist Maynard Keynes fell asleep in class.  Keynes was upset by this, and shouted to wake the [...]

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]]> By: Populism: “What It Was and What It Isn’t” « A. J. MacDonald, Jr. http://www.thefreemanonline.org/columns/john-maynard-keynes-the-damage-still-done-by-a-defunct-economist/comment-page-1/#comment-24140 Populism: “What It Was and What It Isn’t” « A. J. MacDonald, Jr. Tue, 13 Apr 2010 15:06:52 +0000 http://www.thefreemanonline.org/uncategorized/john-maynard-keynes-the-damage-still-done-by-a-defunct-economist/#comment-24140 [...] Most of the credit (or blame) for this current economic situation goes to the well known economist John Maynard Keynes, the father of deficit spending and the grand architect of modern inflationary [...] [...] Most of the credit (or blame) for this current economic situation goes to the well known economist John Maynard Keynes, the father of deficit spending and the grand architect of modern inflationary [...]

]]> By: Steve Witham http://www.thefreemanonline.org/columns/john-maynard-keynes-the-damage-still-done-by-a-defunct-economist/comment-page-1/#comment-17991 Steve Witham Thu, 01 Oct 2009 20:42:58 +0000 http://www.thefreemanonline.org/uncategorized/john-maynard-keynes-the-damage-still-done-by-a-defunct-economist/#comment-17991 Michael on 2 June 2009 said: "Keynes’ actual method of analysis is spot on. The man single-handedly invented macro-economics as a science." (The phrase "macro-economics as a science" has me searching for a comparable monstrosity.) "However, the work he did was very, very specific, and it runs into the problem that he couldn’t figure out the long-run consequences of his policy prescriptions. That those consequences have turned out to be detrimental is unfortunate, because there was so much promise in his original theory." By raiding the granary today, you can eat for today. That's an economic theory whose long-term consequences haven't been thought out. A theory that's obviously false is annoying, but an impossible-to-understand but false theory that shows "so much promise" is infinitely worse. People sometimes criticize economists for looking at equilibria, but an equilibrium is at least a first approximation to sustainability. Michael on 2 June 2009 said: “Keynes’ actual method of analysis is spot on. The man single-handedly invented macro-economics as a science.”

(The phrase “macro-economics as a science” has me searching for a comparable monstrosity.)

“However, the work he did was very, very specific, and it runs into the problem that he couldn’t figure out the long-run consequences of his policy prescriptions. That those consequences have turned out to be detrimental is unfortunate, because there was so much promise in his original theory.”

By raiding the granary today, you can eat for today. That’s an economic theory whose long-term consequences haven’t been thought out. A theory that’s obviously false is annoying, but an impossible-to-understand but false theory that shows “so much promise” is infinitely worse. People sometimes criticize economists for looking at equilibria, but an equilibrium is at least a first approximation to sustainability.

]]> By: Al Brown http://www.thefreemanonline.org/columns/john-maynard-keynes-the-damage-still-done-by-a-defunct-economist/comment-page-1/#comment-16809 Al Brown Sun, 16 Aug 2009 06:00:42 +0000 http://www.thefreemanonline.org/uncategorized/john-maynard-keynes-the-damage-still-done-by-a-defunct-economist/#comment-16809 I\'d like to see taxpayers get some real power over how their money is spent. I\'m a big fan of proportional representation. It is more democratic and reduces the ability of lobbyists to influence. But we also need a legislative house where taxpayers have a say on spending and borrowing in proportion to how much tax they pay. Its their money after all. The people who\'ve earned the money aren\'t going to throw it away. We need some institutional protection against the desire to spend other people\'s money. I\’d like to see taxpayers get some real power over how their money is spent.

I\’m a big fan of proportional representation. It is more democratic and reduces the ability of lobbyists to influence.

But we also need a legislative house where taxpayers have a say on spending and borrowing in proportion to how much tax they pay. Its their money after all.

The people who\’ve earned the money aren\’t going to throw it away. We need some institutional protection against the desire to spend other people\’s money.

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