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

Peter Ward nevadabob at hotmail.co.uk
Mon Nov 16 14:04:15 PST 2009


"Post-Keynesians"? I think the "common sense" popular desire that the economy be built for the benefit of the people not some vested interest or other transcended Keynesian economics long before Keynes was born. I think post-Keynesians are really folk, like Keynes himself, trying to preserve a threatened class structure (with, of course, economic as well as political components) that has been irrelevant to and destructive from the point of view of most people for a long time*--call this structure capitalism or fried chicken or whatever one wants, the name is less important.

If there is to be an economic millennium, I believe it will have nothing to do with Keynes, pre, post or anti. Keynes' and a disciple's writings will simply be irrelevant.**

*I'm sure Keynes believed in what he wrote, that he wasn't a cynic. But those who enabled him to rise understood in some fashion that his doctrine could help them secure and maintain positions of power in the face of Communism and other threats.

**Much as many Constitutional laws are irrelevant now that slavery has been abolished.

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