John M. Keynes
What Would Keynes Say Now? Posted by John Cassidy In the latest edition of the magazine, I have a longish essay on John Maynard Keynes, whose magnum opus, "The General Theory of Employment, Interest, and Money," turns seventy-five this year, and who is the subject of several new books. (For the moment, the piece is behind a firewall.) Obviously, it's not exactly an unexplored subject, but Keynes is one of those pesky fellows who simply won't go away, despite the best efforts of Rick Perry and many other conservatives to consign him to history. – New Yorker
Dominant Social Theme: Sure Keynes is irritating, but he's stood the test of time.
Free-Market Analysis: Keynes is back. He's been down, but he's due for a fashionable reappraisal, and he's receiving one from the New Yorker's John Cassidy (see above). Cassidy admits he's always thought of himself as a Keynesian and he's frank about his apparent admiration for John Maynard Keynes.
Ensuring that Keynes retains some level of credibility is very important to the powers-that-be as without Keynes, there is no way to justify the constant interference of the State in private markets. It's a fundamental dominant social theme, that the top economist of the 20th century provided a rationale for such State involvement.
The problem is that because of the Internet, Keynes's reputation has taken a terrible beating. He was an econometric economist, justifying and "proving" his theories via mathematics, but his General Theory – his masterpiece – is fairly incomprehensible, and with good reason.
The Daily Bell was in the Ludwig von Mises camp with Lew Rockwell
We'll see if they write more about JM Keynes
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