Print Story Keynes was right.
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By Breaker (Fri Apr 16, 2010 at 08:24:39 AM EST) (all tags)
"Lenin is said to have declared that the best way to destroy the Capitalistic System was to debauch the currency. . .  Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million can diagnose."

John Maynard Keynes.



Accordingly, I shall vote Lenin Labour..

Steeples hands, gestures forward It's the right thing to do.

Onwards, Komrades!

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Keynes was right. | 5 comments (5 topical, 0 hidden) | Trackback
Politically motivated Science by garlic (4.00 / 1) #1 Fri Apr 16, 2010 at 08:53:35 AM EST
What do you think The most politically motivated Science is? Obviously b sides global climate change.


Recently by Breaker (2.00 / 0) #2 Fri Apr 16, 2010 at 09:18:25 AM EST
It has been all over the shop.  Fake charities like ASH, Alcohol Concern; the list is huge.

Even when scientists are independant, the government ignores them - see Nutt's resignation for details.


[ Parent ]
Wait ... wait ... by yicky yacky (2.00 / 0) #3 Fri Apr 16, 2010 at 11:07:10 AM EST

You're agreeing with Keynes now, but five months ago thought he was an idiot?


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Vacuity abhors a vacuum.
I just had a training course on assertive communic by brokkr (4.00 / 1) #4 Fri Apr 16, 2010 at 03:34:12 PM EST
ation today. "I have the right to change my mind."
--
Deyr fé, deyja frændr, deyr sjalfr it sama,
ek veit einn, at aldrei deyr: dómr um dau∂an hvern.

[ Parent ]
Strictly speaking by Breaker (4.00 / 1) #5 Sat Apr 17, 2010 at 04:26:53 AM EST
I have no problem with Keynes per se.

I do however have a problem with Governments running deficit spending during the boom years, then having to borrow even more during the bust years, and paying a higher premium for the borrowing because the scale is so large.

To label such policies as Keynesian is wrong.  The crucial part of Keynes's theory was that the productive times see debt paid off, not increased.

A better label for governments who borrow and borrow and borrow would be "mismanagement".

Right now, how much will you have to pay just to service the interest on Gordon Brown's debt?


[ Parent ]
Keynes was right. | 5 comments (5 topical, 0 hidden) | Trackback