[lbo-talk] "Bedlamite economics" and the EMH

Mike Beggs mikejbeggs at gmail.com
Sun Nov 15 14:44:59 PST 2009


On Sun, Nov 15, 2009 at 6:26 AM, Ted Winslow <egwinslow at rogers.com> wrote:


> Actually, as I've many times spelled out and as I just did again, Keynes
>  did have a "research program", one constituted by the ontological,
> anthropological and psychological premises I just summarized.

On Sat, Nov 14, 2009 at 11:00 AM, Ted Winslow <egwinslow at rogers.com> wrote:


> I don't know of any such research program. Keynes's ideas, for instance,
> led to no such program.

On Sun, Nov 15, 2009 at 6:26 AM, Ted Winslow <egwinslow at rogers.com> wrote:


> The Post Keynesians to whom you point aren't pursuing this research program.
>  They ignore, and, in several cases, explicitly deny that these are Keynes's
> premises, that is, they ignore or deny that Keynes's analysis of financial
> markets assumes the following:

Actually, they know what Keynes wrote as well as you do. They just argue that he left something important out, and (implicitly or explicitly) disagree that financial booms and busts are all about psychology.

Quoting Keynes back in response isn't really helpful. At some point, surely, you have to go beyond Famous Quotations from the Old Masters.

Cheers, Mike



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