Sunday, October 2, 2011

Bees build a sweeter economy

Good article on the fallacies of Keyneseism! Note the employment ad. Need a job! Also a nice poem by Bernard de Mandeville.

For years following his General Theory, Keynes admitted that he was wrong, unclear on many issues, and promised to re-write the book. (You can find all the exchanges in two massive volumes of the collection of all Keynes' writings that Elisabeth Johnson and Donald Moggridge edited in 29 volumes). By then World War II had started. Keynes wrote only one more essay after the war, "How to Pay for the War", where there are no traces of his own macroeconomic jargon and analyses. Then he died.

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