brian0918 Posted January 16, 2009 Report Share Posted January 16, 2009 (edited) NPR did a piece on Keynes this morning (listen here). Pragmatism was implicit throughout the whole discussion - ie, that there is a common goal uniting us all, and that anything that cannot accomplish that goal should be immediately discarded, in favor of any other suggestions that sound good. I encourage folks to leave comments on that page. You can also submit feedback, and they might pick it out to be read on the air. Edited January 16, 2009 by brian0918 Quote Link to comment Share on other sites More sharing options...
Who_Is_GV? Posted January 16, 2009 Report Share Posted January 16, 2009 Brian- Thanks for posting this. Quote Link to comment Share on other sites More sharing options...
adrock3215 Posted January 16, 2009 Report Share Posted January 16, 2009 This isn't a bad segment. It is a pretty accurate portrayal of Keynes' eccentricities, and a quick summation of his lasting economic legacy. In addition, the man interviewed stated that there is still disagreement going on in the economics profession over the extent of the practicality of Keynes' ideas, which is true. He also has a point that economics has not progressed much since Keynes' time. There are no new ideas in economics today, the profession is severly lacking. Quote Link to comment Share on other sites More sharing options...
Scott_Connery Posted January 17, 2009 Report Share Posted January 17, 2009 Didn't all of Friedman's Monetarist ideas come after Keynes? Besides, the Austrians had it mostly figured out before Keynes ever started babbling. Quote Link to comment Share on other sites More sharing options...
adrock3215 Posted January 17, 2009 Report Share Posted January 17, 2009 (edited) As for Friedman: Yes, he did come after Keynes, although he is not so much better. The most acute summary of the current crisis is that the Fed is conducting monetary policy mainly according to Friedman's thought, while the government is pursuing the quintessential Keynes remedy. Of course, the Austrians figured many things out before Keynes came along. But the Austrians didn't help us solve the largest problem in economics, the problem underlying most disagreements. The problem in economics today is methodology. Austrian Kantianism is not the answer, and mainstream positivism is equally disheartening. Edited January 17, 2009 by adrock3215 Quote Link to comment Share on other sites More sharing options...
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