To: Travis McGee
I remember seeing speculation that Keynes wrote his Treatise as a sort of schoolboy parody sort of in the făshion of some "scientific" papers that have got published by "peer reviewed" journals only to turn out to be college pranks. The book certainly reads that way. Paragraphs do not hang together and contradictions abound. Sentences do not make sense but have scientific sounding words in them. Conclusions do not follow from stated premises. I have tried to tread the book a couple of times and made it all the way through finally a few years ago.It would be easy reading, I guess, for people who just look for the conclusions and do not try to understand the "arguments." The treatise got popular with politicians because it gave justifications for control of the economy by a band of "experts" operating fiscal policy from the government center. That is why it has retained its popularity and the gravity imputed to it by Harvard and government "economists." When it got famous and often cited to support various government policies back in the 30s I guess the good lord Keynes kind of liked that and kept his mouth shut about the parody.
6 posted on
11/29/2008 3:17:14 PM PST by
arthurus
(Old Age beat itself with its ownguile and lack of enthusiasm.)
To: arthurus
You could be right.
Certain Keynsian freepers still employ the same brand of high-flying obscurantism to confer the ring of wisdom to utter BS.
It works on morons. “Gee Elmer, that shore sounds edecated and smart. It must be right.”
11 posted on
11/29/2008 4:53:14 PM PST by
Travis McGee
(--www.EnemiesForeignAndDomestic.com--)
To: arthurus
We completely agree. Reading Keynes, particularly the General Theory, is very difficult and his admirers like to tell you it’s because he is so profound.
We do not find it so after long study.
He was, however, very skilled at making money in the market himself.
One of the more fascinating accounts of his life concerns his having an audience with FDR, after which he is said to have said that he was appalled by how ignorant FDR was of economics.
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