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Nice sequel! (And a bigger part for Mike Munger this time!)
I think I'll mirror Fletch's thoughts on this one.
"It would've been more accurate had Keynes been killed in the ring, then had his corpse propped up and awarded the heavyweight belt by the members of congress."
Quote from: Virgil0211 on April 28, 2011, 05:06:40 PM"It would've been more accurate had Keynes been killed in the ring, then had his corpse propped up and awarded the heavyweight belt by the members of congress."
That's going in fav quotes!
Yeah, but they're still playing fair with their back-and-forth.
Quote from: MrBogosity on April 28, 2011, 05:10:00 PMYeah, but they're still playing fair with their back-and-forth.
Something that real Keynesians--last I checked--don't do.
Quote from: surhotchaperchlorome on April 28, 2011, 05:11:53 PM
Something that real Keynesians--last I checked--don't do.
I've never met a keynesian who did. But then again, I haven't met all keynesians. I'm sure there are a few good ones out there. I mean, look at the interview they have on EconStories. They were at a convention attended by mostly keynesians, and the discussion of the Austrian theory of the business cycle was received favorably, even though the audience included people like Stiglitz.
Quote from: Virgil0211 on April 28, 2011, 06:05:03 PM
I've never met a keynesian who did. But then again, I haven't met all keynesians. I'm sure there are a few good ones out there. I mean, look at the interview they have on EconStories. They were at a convention attended by mostly keynesians, and the discussion of the Austrian theory of the business cycle was received favorably, even though the audience included people like Stiglitz.
"All creationists are liars. As the honest ones don't stay creationists for very long."--Shanedk
I think what Shane says about creationists and dishonesty applies equally so to Keynesians.
Reading through the comments, I see another similarity: just as the fundamentalists cry and whine that people are actually subjecting their claims to critical scrutiny, so are the Keynesians. A lot of the comments read like whiny little children who don't like that the bad man showed how their arguments were idiotic.
Well, don't hate me for saying this, but there's one video on the channel that seemed really interesting from a historical/biographical/know thine enemy perspective.
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Granted, the last 2 minutes are annoying, but the first 12 primarily use a biographical perspective, which I found really interesting. It seems that even most Keynesians don't understand Keynes. And he was still dead wrong. :P
In my estimation, though, Keynes wasn't anywhere near as wrong as the Keynesians. He never said he was developing universal policies for all times, and even said they were just for a Depression/wartime economy. If he'd lived past 1946 we would have known what other ideas he would have come up with, and how right or wrong they would have been.
Quote from: MrBogosity on April 29, 2011, 07:12:35 AM
In my estimation, though, Keynes wasn't anywhere near as wrong as the Keynesians. He never said he was developing universal policies for all times, and even said they were just for a Depression/wartime economy. If he'd lived past 1946 we would have known what other ideas he would have come up with, and how right or wrong they would have been.
That reminds me of something my macro teacher said...
"It's difficult to figure out just what Keynes said, as he had a habit of saying one thing to one person and another thing to another person."