Henry Hazlitt in The Failure of the New Economics addressed each and everyone of these "great ideas" and showed how they were a combination of using the same words in different contexts, thus confusing the issue, and simply incorrect thinking.Keynes great ideas:financial instability, market failures of free markets, asset/credit boom/bubbles & busts, fiscal stimulus in liq trap..
After reading Hazlitt, there is no way Keynes can be taken seriously.
Has Roubini read any of the truly great ideas of the Austrian school? Or does he seek to mischaracterize and disparage them without any real, personal understanding of what has been said?
ReplyDeleteAfter reading Wenzel, nobody can take Roubini seriously.
ReplyDeleteGod, I'm such a suckup.