Tuesday, September 23, 2008

John Maynard Keynes dead but We Live? By Chandra

Any way Keynes is down now?

“Keynes alone was confident that he could fix capitalism so as to cure it of its cyclical tendencies, but he was over-optimistic”.

It is hard to believe if one has studied the principles of free market economics fully or at least the works done by Miese, F A Hayek, Milton Friedman, to mention a few.

One can ask how far Keynes had such “over optimistic”

But it is our own job to test what the rationale of saying that the “The old truth that Keynes wrote about in the superb Chapter 12 of General Theory is still valid. People prefer being wrong in a herd than being right in isolation. They have a collective amnesia when it suits them, and the longer the bull run lasts, the more the stock market resembles a casino”.

Because one reason is that no Economics department in India teach truth about the different sort of economic systems and its principles least in my knowledge.

But it is debatable issue when it come “The eternal verities of Marx and Hayek  


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