Thursday, February 2, 2012

Cochrane on 1946

Posted by dkuehn at 10:06 PM
A fascinating post by John Cochrane on Lawrence Klein and the decline in government spending in 1946. More on this tomorrow.

7 comments:

  1. AnonymousFebruary 2, 2012 at 10:45 PM

    Haha! I had an instance of "momentary dyslexia" and read that as "John Coltrane".

    I do, however, find it interesting that Keynesians are now focusing upon periods that are the bulwark of the Austrian criticisms. That's certainly an achievement in and of itself, especially considering the deviations regarding methodology.

    Essentially, you guys are taking the opposing defense in response to criticisms from the Austrian school. Certainly, there is no other reason that you would focus strictly upon these periods; certainly the neo-classicals weren't pushing upon them specifically.

    I almost feel giddy.

    ReplyDelete
    Replies
    1. Daniel KuehnFebruary 3, 2012 at 6:33 AM

      I don't feel like I'm "responding to criticisms" so much as "addressing misconceptions", but take it how you will. If 1946 and 1921 are your bulwarks that's unfortunate for you all.

      I'm also not sure this is true of Keynesians generally.

      Delete
    2. AnonymousFebruary 3, 2012 at 7:39 AM

      John Cochrane is a Keynesian? What?

      Delete
    3. Daniel KuehnFebruary 3, 2012 at 7:53 AM

      No, not at all.

      Is that your confusion Joseph?

      Delete
    4. Anonymous CommenterFebruary 3, 2012 at 9:30 AM

      No, I'm not Joseph. I'm just some anonymous commenter (well, I know you don't like us) who hasn't commented much before, but I was struck by Joseph's remark because I was unable to indentify any logical connection to the posted link.

      Delete
    5. Daniel KuehnFebruary 3, 2012 at 10:58 AM

      Right - I know you're not Joseph. I was wondering if that was why he thought Keynesians are preoccupied with this.

      Delete
  2. Andrew BossieFebruary 3, 2012 at 11:21 AM

    Thanks for posting this. That Klein paper will be a good read.

    ReplyDelete

All anonymous comments will be deleted. Consistent pseudonyms are fine.

Subscribe to: Post Comments (Atom)