On Feb 8, 2010, at 6:18 PM, Mike Beggs wrote:
> On Mon, Feb 8, 2010 at 11:45 PM, Lew <wsm_mod at yahoo.co.uk> wrote:
>
>>
>> In terms of economics, this is more or less how the Keynesian Left
>> (including some who would call themselves Marxist) also define
>> socialism: If
>> the economy is in difficulty, the government should spend its way
>> out of
>> trouble.
>
> Who are you talking about here? The original left Keynesian Joan
> Robinson meant rather more than that - for her the central aspect of
> socialism was expropriation of the wealthy and redirection of their
> consumption expenditure into development.
She also had a barbed comment on JMK himself, the exact wording of which I wish I could remember. But it went something like: Keynes wanted to increase investment. Pity he said so little about investment in what.
Doug