Thursday, May 24, 2012
The Keynes Mutiny
"It is ideas, not vested interests, which are dangerous for good or evil." --John Maynard Keynes
By Barry Rubin
We should always challenge the simplistic claims of the left--often echoed by the simplistic, stereotyped response of the right, which falls into the left's trap—about the nature, origin, and “liberalism” (rather than radicalism) of its ideas.
Here's a simple chart:
Obama and the Obamites: We are true heirs of liberalism and it is good.
The Opposition: You are true heirs of liberalism and it is bad.
Me and (hopefully) you: Wait just a moment there, Binky! You're radicals pretending to be liberals and we can prove it. Centrists and real liberals should be supporting the opposition today against you.
Consider John Maynard Keynes, who the current left claims as the patron of its economic policies. Of course, there is some justification for this idea but I believe Keynes would have been horrified by contemporary Obama Administration policy. True, Keynes advocated high government spending to stimulate economic growth. Let’s examine Keynes’ advice to President Franklin Delano Roosevelt to see