tag:blogger.com,1999:blog-8595404115121834255.post295010170858280010..comments2024-03-28T03:24:05.678-04:00Comments on NAKED KEYNESIANISM: How Keynesianism became a dirty word: not Hayek, the New Deal is the real causeMatias Vernengohttp://www.blogger.com/profile/09521604894748538215noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-8595404115121834255.post-7537905549970494622014-09-13T19:51:18.886-04:002014-09-13T19:51:18.886-04:00I think you're correct about why "Keynes&...I think you're correct about why "Keynes" became a dirty word among economists, and that Hayek had nothing to do with it. I suspect that for the general public, though -- the kind of people Noah hears using "Keynesian" as a synonym for "socialist" -- it probably has to do with the popular economist writers (J.K. Galbraith back in the day, Krugman now) known to be "Keynesian" also being reliable lefties. Since both are on the record as being in favor of more public spending and intervention, that must be what "Keynesianism" is about (never mind that Krugman only favors this when nominal interest rates hit zero). <br /><br />WillAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-8595404115121834255.post-71481904570401573212014-09-13T15:37:01.312-04:002014-09-13T15:37:01.312-04:00On the main topic of his piece, however, Noah is s...<i>On the main topic of his piece, however, Noah is simply wrong. He argues that the reason why: "people think Keynesianism is socialism-lite [is] the fault of Keynes’s main intellectual opponent [Hayek]...Hayek was irrelevant.</i><br /><br />Noah has a tendency to refer to YouTube videos for insight into economic history. So this very well may be his source:<br /><br />https://www.youtube.com/watch?v=d0nERTFo-Sk<br /><br />And just look at that hit count, so it must be true!Trixiehttps://www.blogger.com/profile/17763994914034770622noreply@blogger.com