Hayek

Doug Henwood dhenwood at panix.com
Sat Feb 20 14:44:31 PST 1999


Rakesh Bhandari wrote:


>By underlining that the investment goods sectors is really the bulk of the
>economy, Skousen and Hayek want to change the emphasis in a slump to the
>revival of the capital goods sector.

But Keynes also thought capital investment was the motor of the system, and believed that stimulating the animal spirits of entrepreneurs or having a state investment board take their place if they're too scared or gloomy to do the job was the whole point of economic policymaking.

If I were home right now I could quote chapter & verse from the General Theory.

Doug



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