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Old 07-14-2017, 09:07 AM
Status: "delete" (set 24 days ago)
 
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Keynes was always going to be wrong.

He admitted it after he said, "We're all dead in the long run." Keynes was a coward.

Well, news flash. The long run is here and very few people (relatively) will be able to escape.

We reap what we sow. We will see what happens when we keep stealing from the future so we can live like movie stars today.

The way society works is that we move forward with anticipation that someone else will come up with a solution.

We have been fortunate this far, but at some point, our luck will run out. There are many aspects of this lifestyle we choose to live that rely on increasingly scarce resources.

A systematic lifestyle change is necessary if we want to prosper in the future; however, it may be too late for that.

Last edited by Jobster; 07-14-2017 at 09:19 AM..
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Old 07-14-2017, 09:55 AM
 
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Quote:
Originally Posted by Henry10 View Post
Keynes himself modified somewhat his positions on some aspects.
Not so much after he died in the Spring of 1946. It's his intellectual heirs who've made all the updates and changes since then. And as is the case with all sciences of course, one of the principle functions of economics is to re-examine and re-test the conclusions that have gone before. This is how the discipline progresses and is continuously re-invigorated over time.

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Originally Posted by Henry10 View Post
In some ways discussing Keynes himself is kinda off-topic in this thread.
Hard to see that, as Keynes is named directly in the thread title. Certainly many people will be uncomfortable in discussing Keynes given that they've had so little success in contradicting his work over all these years. That angst would indeed be an unrelated matter though.
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Old 07-14-2017, 10:25 AM
 
Location: Ubique
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Originally Posted by Pub-911 View Post
Not so much after he died in the Spring of 1946.
??

Keynes didn't change his positions too much after he died? You meant -- until he died?

BTW, towards the end of his life, Keynes changed his views a little and became slightly more receptive to Adam Smith's theory of "invisible hand", which is the bedrock of laissez-faire. Keynes admitted that this was antagonistic to his life's work -- economic activism.

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Originally Posted by Pub-911 View Post
Hard to see that, as Keynes is named directly in the thread title.
Thread title is about Keynesians during Obama, not Keynes himself. Big difference.
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Old 07-14-2017, 10:54 AM
 
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Quote:
Originally Posted by Henry10 View Post
BTW, towards the end of his life, Keynes changed his views a little and became slightly more receptive to Adam Smith's theory of "invisible hand", which is the bedrock of laissez-faire.
Like all rational men, Adam Smith was not at all approving of laissez-faire economics. Obviously, you have not read his works either.

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Originally Posted by Henry10 View Post
Thread title is about Keynesians during Obama, not Keynes himself. Big difference.
The difference is apparent only to people with an axe to grind but no actual point to make. Obama et al. were as perplexed by the unique nature of a credit-driven, self-reinforcing downward economic spiral as anyone else, but they found nothing more likely of success than standard Keynesian anti-cyclical measures, and when applied, those measures worked very well. How that can have proved Keynesians wrong is a bit of an unexplained mystery here.
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Old 07-14-2017, 11:48 AM
 
Location: Ubique
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Originally Posted by Pub-911 View Post
Like all rational men, Adam Smith was not at all approving of laissez-faire economics. Obviously, you have not read his works either.
How do you get to jump from talking about apples to talking about fried catfish? Besides, who are you -- my librarian, and know what books I checked out?


Quote:
Originally Posted by Pub-911 View Post
The difference is apparent only to people with an axe to grind but no actual point to make.
I have no axe to grind, but a very important point to make - repeating myself -- there are many flavors of Keynesians, do you know that? So, which one are we talking about? Some grey shades of white actually are closer to black, although technically still white.

So if you can't identify which flavor or keynesians we are talking about, then addressing this topic is like shooting darts in the dark.

Why don't you answer my other questions -- if you think you read one book or article, and parrot here what you heard, then pls let me know so I don't waste my time with parrot regurgitation. So far, it definitely sounds like that.
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Old 07-19-2017, 10:11 PM
 
Location: Paranoid State
12,685 posts, read 9,443,087 times
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The stagnation of the Obama years does not show Keynesian economics is wrong.

First, the stagnation of the Obama years stems from harmful excess regulation of government bureaucracies.

Second, Keynesian economics was wrong before Obama years.
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Old 07-20-2017, 06:33 AM
 
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We are all Keynesians now. Even Milton Friedman. The struggle to explain the stragglers does continue though.
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Old 07-20-2017, 07:10 AM
 
Location: Gainesville, FL
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Originally Posted by Pub-911 View Post
We are all Keynesians now. Even Milton Friedman. The struggle to explain the stragglers does continue though.
Not every contrarian holds Milton Friedman as a paragon. It is the folly of typical politics that use actual people as a strawman for the opponent. Ronald Reagan is another example.
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Old 07-20-2017, 07:30 AM
 
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Originally Posted by Avram42 View Post
Not every contrarian holds Milton Friedman as a paragon.
The point there was Friedman's close connection to the statement that "We are all Keynesians now." And that there is still no good explanation for the babble of the stragglers.

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Originally Posted by Avram42 View Post
It is the folly of typical politics that use actual people as a strawman for the opponent. Ronald Reagan is another example.
The pinnacle of Ronald Reagan's career was his stint as a so-so actor in a series of forgettable films. His distraction into the field of politics did not work out well for very many. Some today of course remember his 1980's portrayals of the kindly grandfather character on TV, while forgetting all that was or was not going on behind the scenes.
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Old 07-20-2017, 07:51 AM
 
Location: Gainesville, FL
190 posts, read 195,749 times
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Quote:
Originally Posted by Pub-911 View Post
The point there was Friedman's close connection to the statement that "We are all Keynesians now." And that there is still no good explanation for the babble of the stragglers.
I like how you move the goal posts every time you reply. First it was that MF is a Keynesian... now it's that he's closely "connected" to the quote.

Perhaps you looked it up and found how that statement was without context?
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