Thursday, May 19, 2011
Posted by dkuehn at 5:30 AM
- Giovanni Dosi talks about the confluence between Schumpeter and Keynes at the Institute for New Economic Thinking website. I think this is very important. Some people see Keynes as saying "saving is bad and spending is good". I think that's a strange way to look at it. I see Keynes as saying "investment is good and investment doesn't always match up with savings". The latter perspective, which stresses animal spirits, etc. - this sort of view of Keynes that is more common at the Institute for New Economic Thinking - is quite commensurate with a Schumpterian entrepreneurial view of the economy.
- Brad DeLong defends Keynes against Jacques Rueff booster Benn Steil.
- Dominique Strauss-Kahn is in the news for things besides his economics, but his vision for the IMF has been similar to that of Keynes. He has pushed for the broader Keynesian vision of the IMF in the past, which was vetoed at the Bretton Woods conference. Strauss-Kahn is out of the picture, and that is a good thing. But that's not going to stop people from making this point about the role of the IMF. I don't think we've heard the end of plans for the SDRs that more closely mirror Keynes's original vision of the bancor.
- Finally, I recently came across a collection of John Maynard Keynes's Newton related papers. It's mostly letters, invoices, etc. associated with his efforts to collect Newton's papers in the 1940s. There's some really fascinating stuff in here.
And a quiz - who called Keynes a "well-known bourgeois and implacable enemy of Bolshevism"?