Sandwichman wrote: > Some of these autodidact cranks make more sense than the academicians who > prattle on 'in the name of" revered authorities whose wisdom they've imbibed > second-hand (at best) through introductory textbooks and hear-say. > "Actually-existing Keynesian" for example, is a compendium of Aesopian > fables and condensations that bear scant resemblance to ideas of J.M. > Keynes.
FWIW, I'd say that most self-styled "Keynesian" economists would not care at all if their ideas are contradicted by what Keynes said or not; they're not interested in the scholastic hermeneutics of reading texts (especially those without abundant math). That is, they would simply deem your criticism as totally irrelevant, Tom. Rather, they use the label "Keynesian" only because no-one can think of a better word and because they want to contrast themselves to the alternatives (in mainstream macro, new Classicals). In some ways, those who cling to a label named after a Famous Person (such as "Keynesian") without caring about what the fellow actually said are simply the mirror-image of those who spend much of their of time worrying about what he "really" said. The former are insufficiently curious on the origins of the ideas they allegedly endorse, since they spend all their time on currently-popular theories and/or practical issues of policy. The latter are insufficiently curious about currently-popular theories and practical issues of policy, since they put too much importance on the words of Famous People. It seems to me that we can learn from Famous People, from currently-popular theories, _and_ practical issues of policy. There is no need to shut one's eyes to any of the available information or to get hung up on labels and whether or not someone is a "true" disciple of some Famous Person. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
