one of the big ideological attractions of the original Keynesian orthodoxy was that it was seen as totally macroeconomic, not picking "winners" and "losers." You just pump money expenditure into the system and it grows...
On 8/6/06, Doug Henwood <[EMAIL PROTECTED]> wrote:
On Aug 6, 2006, at 12:31 AM, Perelman, Michael wrote: > Doug, were you thinking of this? > > Robinson, Joan. 1972. "Richard T. Ely Lecture: The Second Crisis in > Economic Theory." American Economic Review, 62 (May): pp. 1-10. > 8: "The whole trouble arises from just one simple omission: when > Keynes > became orthodox they forgot to change the question and discuss what > employment should be for." Ah, that might be it. Investment, employment, it all blends together...
-- Jim Devine / "War is the health of the state" -- Randolph Bourne
