Sunday, August 1, 2010
Folks should understand that Keynes was an elite Brit who had no trouble thinking that bankers should run the world and would do it well if they only listened to him. Late in life, Keynes would get religion and his ideas would actually reflect the content first put forth by folks like the Greenback Party and the other organizations that came into being as a response to the "Crime of 1873." With my progressive midwestern roots, I grew up believing that Keynes was the best one could expect from a British banker's representative. He was better than nothing but pretty weak tea compared to what our grandfathers had attempted. To get a feel for where my people were coming from, you might want to read Thorstein Veblen's review of Keynes The Economic Consequences of the Peace.