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Keynes is similar but also significantly different than "modern" keynes is today... You need to read the book but also understand what keynesian is today... Which is bigger government and total intervention, which wasn't what keynes wanted but what his beliefs have "become".... Or should i say evolved into...
Yes, quite true. Our government loves to push on us their own interpretation of what Keynes meant, because he couldn't possibly anticipated all of our modern societal and economic problems, and we're not smart enough to figure out what meant anyway. Very similar to how the founding fathers could not possibly have anticipated these types of modern issues when framing the constitution. The truth is that they did, and they set it up in such a way (states rights) so that the federal governmant should never have been involved in dealing with these problems, many of which were government created to begin with.
John Maynard Keynes seems to get a bashing these days.
what's so wrong with his theories and have they been proved wrong?
I'd like to do some compare and contrast, freemarket, democracy, socialism, libertarianism etc.. and see how Keynes fits in
I need to be educated, thanks
I don't think Keynes was wrong as much as his ideas have been badly abused. He basically said governments should run deficits during bad times. But he also said governments should run balanced budgets or surpluses in good times. Humans have a way of hearing what they want to hear and ignoring the stuff they don't. Most governments have run deficits in good times and bad...which is why so many countries are mired in debt (Japan, the U.S., Greece, Spain, France, Italy, the U.K., Germany, etc.).
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