The argument has been made that most of the essential ideas of Keynes's general theory had been already anticipated by members of the Swedish school like Knut Wicksell and Gunnar Myrdal. In fact, Myrdal was rather insistent that this was the case.
Also, it should be noted that the Polish economist Michal Kalecki independently arrive at an economic analysis that was rather similar to Keynes's. In Kalecki's case, he had arrived at it based upon a close study of Rosa Luxemburg's economic writings.. At first Kelecki's work drew little attention since his papers had been written in Polish and published in Polish journals. But Keynes eventually heard about him and had Kalecki invited to Cambridge where his work began to draw more widespread attention.
Jim Farmelant http://independent.academia.edu/JimFarmelant http://www.foxymath.com Learn or Review Basic Math
---------- Original Message ---------- From: Eubulides <autoplectic at gmail.com> To: lbo-talk at lbo-talk.org Subject: Re: [lbo-talk] yakking about the right Date: Mon, 2 Apr 2012 05:41:11 -0700
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. ___________________________________ http://mailman.lbo-talk.org/mailman/listinfo/lbo-talk
____________________________________________________________ The New "Skinny" Fruit How This Strange 62-Cent African Fruit Is Making Americans Skinny.