Monday, May 6, 2013

On Keynes

TakingHayekSeriously tweets:

Can't we just say it? Keynes was a bad economists b/c he didn't know much economics, eg he badly botched most all of the Econ he explicated.
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Keynes badly botch & wildly misrepresenting the economics of Pigou, Bohm-Bawerk, Hayek & just about every other economists he discussed.
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Keynes took one course in economics lasting 10 weeks.  That is the sum and total of Keynes's formal training in the science of economics.
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Keynes assassinated the character of 19th century economists & like a Marxist suggested their character determining content of their Econ.
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Keynes didn't understand the logic of production choice & shared Marx's fantasy that socialized investment would end the problem of scarcity
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Failure to get the logic of production choice & belief that socialized investment ends problem of scarcity marks Keynes as a bad economist.
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The American 1st attracted to Keynes Econ & who popularized it was a Harvard econ who believed in the crackpot idea of 'secular stagnation'.
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The upper class, silver-spoon fed Keynes constantly attacked middle class striving & saving for the future from every angle imaginable.

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