Whenever I see the vomit of Keynes showing up I just shake my head. It's like a bad smell that just won't wash out of some clothes. Am I really still hearing about "price stickiness" and "stimulating aggregate demand" "pump-priming" bullshit?
I strongly recommend reading, or attempting to read, his book "General Theory". The moment you see is writing style you'll recognize the nature of that man. A stupid windbag, ever so eloquently spouting complete and utter shit for hundreds of pages, who got his high reputation because that shit supported what the political class wanted to do and "claim to be" anyway.
In the ideal world, his nonsense would just be summarily be deleted from academic courses, we'd go back on the gold standard, constitutionally restrict so called "pump-priming", and leave wages during recessions and deflation up to the free market. There are dozens of ways for the private sector to handle labour and wages during deflation.
I suspect much of the support for Keynesianism to stem from the "hazing effect". People support hazing, or the teaching of bullshit, because they themselves had to go through with it, and thus feel the need to justify its worth.
I strongly recommend reading, or attempting to read, his book "General Theory". The moment you see is writing style you'll recognize the nature of that man. A stupid windbag, ever so eloquently spouting complete and utter shit for hundreds of pages, who got his high reputation because that shit supported what the political class wanted to do and "claim to be" anyway.
In the ideal world, his nonsense would just be summarily be deleted from academic courses, we'd go back on the gold standard, constitutionally restrict so called "pump-priming", and leave wages during recessions and deflation up to the free market. There are dozens of ways for the private sector to handle labour and wages during deflation.
I suspect much of the support for Keynesianism to stem from the "hazing effect". People support hazing, or the teaching of bullshit, because they themselves had to go through with it, and thus feel the need to justify its worth.