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Wednesday, June 5, 2019
Keynes: socialist, liberal or conservative? — Michael Roberts
Interesting post. Michael Roberts argues that Keynes was all three–socialist, liberal and conservative at different times. But owing to his social status, Keynes was fundamentally a British upper-class conservative, or in Marxian terminology, a "bourgeois liberal." However, he was not hidebound and also had a sense of reality that made him open to accommodate changing circumstances.
Michael Roberts Blog
Keynes: socialist, liberal or conservative?
Michael Roberts
See also
The Political Economy of Development
Keynes against capitalism
Nick Johnson
Links on Michael Roberts’ ‘Keynes: socialist, liberal or conservative?’
ReplyDeleteScientifically, Keynes is long dead ― more precisely, since the General Theory. Keynes got Profit Theory wrong. This means that the whole analytical superstructure of the GT is scientifically worthless and that Keynes’ policy proposals NEVER had sound scientific foundations. After-Keynesians failed to spot Keynes’ foundational blunder to this day. For details see:
Forget Keynes
http://axecorg.blogspot.com/2018/02/forget-keynes.html
Macroeconomics ― dead since Keynes
http://axecorg.blogspot.de/2016/12/macroeconomics-dead-since-keynes.html
How Keynes got macro wrong and Allais got it right
https://axecorg.blogspot.de/2016/09/how-keynes-got-macro-wrong-and-allais.html
Keynes’ intellectual nonexistence
https://axecorg.blogspot.de/2017/12/keynes-intellectual-non-event.html
Macroeconomics: Economists are too stupid for science
https://axecorg.blogspot.com/2019/04/macroeconomics-economists-are-too.html
Marshall and the Cambridge school of plain economic gibberish
http://axecorg.blogspot.de/2016/09/marshall-and-cambridge-school-of-plain.html
Post-Keynesianism vs MMT: a Zombie debate
https://axecorg.blogspot.com/2019/04/post-keynesianism-vs-mmt-zombie-debate.html
Keynesians ― terminally stupid or worse?
https://axecorg.blogspot.com/2017/08/keynesians-terminally-stupid-or-worse.html
From Keynes’ fatal blunder to the true economic model
https://axecorg.blogspot.com/2019/04/from-keynes-fatal-blunder-to-true.html
Egmont Kakarot-Handtke
We can look at economics as a pure science to study total efficiency. Then we must tweak the model to suite us as humans are not machines. The tweaking is politics and many of us prefer sicialism.
ReplyDeleteKaivey
ReplyDeleteYou say: “The tweaking is politics and many of us prefer sicialism.”
“Tweaking” is a euphemism for scientific fraud. Keynes was a political agenda pusher, NOT a scientist. Same holds for socialists.
Socialism and scientific incompetence
https://axecorg.blogspot.com/2019/02/socialism-and-scientific-incompetence.html
Egmont Kakarot-Handtke
Kaivey
ReplyDeleteGeneral Theory p. 63: “Income = value of output = consumption + investment. Saving = income − consumption. Therefore saving = investment.”
“His Collected Writings show that he wrestled to solve the Profit Puzzle up till the semi-final versions of his GT but in the end he gave up and discarded the draft chapter dealing with it.” (Tómasson et al.)
Let this sink in: Keynes had NO idea of profit, i.e. the fundamental concept of economics.
Keynes’ I=S is false, AXEC’s Q=I−S is true. See
Do first your macroeconomic homework.
https://axecorg.blogspot.com/2018/06/shut-up-do-first-your-macroeconomic.html
Egmont Kakarot-Handtke
Kaivey
ReplyDelete“Keynes: socialist, liberal or conservative?” Wrong question!
Right question “Keynes: scientist or useful political idiot?”
Right answer: Keynes messed up macroeconomics and because of this he is buried at the darkest corner of the Flat-Earth-Cemetery. See cross-references Failed/Fake Scientists
http://axecorg.blogspot.com/2015/11/failedfake-scientists-cross-references.html
Egmont Kakarot-Handtke