Hayek On Keynes: "Economics Was A Sideline For Him" | Zero Hedge

Posted by straightlinelogic 12 years ago to Economics
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If anyone thinks Keynesian economics "works," please cite the country and time period in which you think it was successful.
SOURCE URL: http://www.zerohedge.com/news/2014-02-17/hayek-keynes-economics-was-sideline-him


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  • Posted by Lucky 12 years ago
    Yes Keynes was the sparkling intellect of the age. He made a fortune on stock picking. Philosopher Bertrand Russell said he approached any meeting with Keynes with great trepidation.
    With the economic theories being so counter-intuitive and with no logical sequence, I suggest that Keynes did not believe in Keynsianism, it began as a joke then could not be stopped.
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    • Posted by 12 years ago
      I think I saw someone else who suggested the same thing. I got my first dose of Keynes as an economics major in college, and it just never made sense to me. Making the intellectual effort to define exactly why seemed too distasteful and time consuming, so I never did. I just ignored Keynesian economics and developed my own, which served me well in my career in the financial markets. The first tenet of my economics is that any theorem that resorts to Greek letters is presumptively useless.
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