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To: neverdem
Why would Mr Samuelson or anybody else still be taking Keynesian economic models seriously?

"Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist." -- John Maynard Keynes, 1936

Now that quote is ironic!

9 posted on 12/19/2011 11:10:35 PM PST by AndyTheBear
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To: AndyTheBear
Why would Mr Samuelson or anybody else still be taking Keynesian economic models seriously?

Because that's all that they know, even though it's obvious they have their doubts! They feel compelled to do something. Hence Obama's stimulus was justified as being targetted, timely and temporary, even though it was hardly timely and the targets were gov't programs, especially unions.

11 posted on 12/19/2011 11:55:38 PM PST by neverdem (Xin loi minh oi)
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To: AndyTheBear
Keynes vs. Hayek #1
12 posted on 12/20/2011 12:41:46 AM PST by fella ("As it was before Noah, so shall it be again.")
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