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I used to think that, however I would like to point out that Keynes did believe that the gold standard was necessary. What we have in economics now are Neo-Keyn
by patrickg_zill 8y ago
I used to think that, however I would like to point out that Keynes did believe that the gold standard was necessary. What we have in economics now are Neo-Keynesians, who perhaps can be said to have hijacked Keynes.
- cuchoi 8y agoWhat's the problem with Neo-Keynesians?
- patrickg_zill 8y agoMy point is that they are different from Keynes' own views.
- cuchoi 8y agoThey usually are working towards proving mathematically (with microfoundations) Keynes theories, so I don't see how they would differ besides the issues were the economic mainstream have shifted.
- vanderreeah 8y agoWrong - Keynes believed the exact opposite. Perhaps his most famous opinion is that the gold standard was "a barbarous relic".
- dragonwriter 8y ago> however I would like to point out that Keynes did believe that the gold standard was necessary. Keynes advocating against the reintroduction of the gold standard, and then—when Churchill got it reintroduced anyway—for its abandonment until it was again abandoned. You must have mistaken Keynes for someone else.