Keynes and the Bastards

[Michael Perelman]

Regarding Doug's note on Blaug, Keynes, like Hegel [I am out of my league
here, but that was my superfical understanding], was not fully aware of the
revolutionary implications of his ideas.  The Post Keynesians take that part
of Keynes that is damning to conventional theory, although they, as Doug says,
are not always antagonistic to capitalism itself.

Joan Robinson was aware the Keynes' theory undermined the case for capitalism
and saw his work as a stronger critique than Marx's.

The Bastards wanted to put the genie back in the bottle and make Keynes
conventional.

All three contradictory approaches were faithful to parts of Keynes -- a snob
who seemed to enjoy occupying the upper reaches of British society.

--
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu