[lbo-talk] yakking about the right

[Eubulides]

On Sun, Apr 1, 2012 at 10:04 PM, Dennis Claxton <ddclaxton at earthlink.net> wrote:
> On 4/1/2012 9:49 PM, Eubulides wrote:
>
>
>> There is no better pair of examples than the US' reaction to Marx and
>> Keynes;
>
>
>
> http://en.wikipedia.org/wiki/We_are_all_Keynesians_now
>
> "We are all Keynesians now" is a now-famous phrase coined by Milton Friedman
> and attributed to U.S. president Richard Nixon. It is popularly associated
> with the reluctant embrace in a time of financial crisis of Keynesian
> economics by individuals such as Nixon who had formerly favored monetarist
> policies.

===================

David Laidler. Fabricating the Keynesian Revolution: Studies of the
Inter-war Literature on Money, the Cycle, and Unemployment. New York
and Cambridge: Cambridge University Press, 1999. xvi + 380 pp. $74.95
(cloth), ISBN 978-0-521-64173-9.

Reviewed by J. Daniel Hammond (Department of Economics, Wake Forest University)
Published on EH.Net (June, 2000)

David Laidler's thesis is just as the title suggests. The Keynesian
revolution was a fabrication. By this Laidler means that the putative
revolution was neither uniquely Keynesian nor revolutionary. The most
transforming development of post-1936 economics was the synthesis
embodied in the IS-LM model. The model, while generally and properly
associated with Keynes's General Theory and the "revolution" that
followed, owed more to John Hicks, James Meade, Roy Harrod, Brian
Reddaway, and Alvin Hansen than to Keynes. Though the General Theory
contained an informal version of the model, the ideas that the model
was subsequently used to organize were themselves neither particularly
Keynesian nor novel.
http://www.h-net.org/reviews/showrev.php?id=4245

Also: The Business Response to Keynes 1929-1964 by Robert M. Collins.

Methinks Geithner and company were hardly pouring over chapters 17-24
of the GT as they applied bubble gum and duct tape to the balance
sheets of Wall Street.