The other day I sat down with Dave Parsons for his podcast The Nostalgia Trap. You can find the resulting interview here. It’s partly about politics, partly about economics, partly about me and my various adventures on the US left.
You should check out some of Dave’s other interviews as well — he gets some very interesting people to sit down with him and has conversations with them that are more expansive and wide-ranging than your usual interview.
Off topic question. I just read an article online (which I think was
actually attempting to be Keynes sympathetic) which characterized Keynes
as saying sticky wages caused depressions. I thought Keynes explicitly made the
argument that wage rigidity was not the primary cause of the slide
into the intractable depressed economy.
Is that correct?
You are correct. The idea that Keynes believed that wage rigidity was responsible for unemployment is very widespread, but baseless. In fact, he devotes an entire chapter of the General Theory (chapter 19) to refuting this view.
Wow I don’t even know universities still pehcares Keynesian economics (which university did she actually went to?) that’s really a strange piece of news (and of course stupid words from the broom-haired one). 現在的經濟學說,根本沒有統一的主流 true and not true. In terms of teaching undergraduates, universities tend to teach neo-classical economics (and claim that it’s the mainsteam) with some picnic sessions telling students how stupid the (neo-)Keynesian system was and still is. In reality (i.e. reaseach and in i-banks) people just use computer programs to data mine. It’s not even economics anymore.To be honest, people like monetarism simply because it’s how the global economy is being run right now (and probably with better efficiency than before).Apart from 攞sound bite , the main reason why (wannabe) politicians love Keynesian economics is that it gives them excuses to interfere with the economy to gain short-term political benefit, even if the long term it harms the economy as a whole. In truth, Keynesian is too short sighted.(NB I am also a wannabe economics undergraduate student at the moment )
Is this spam? I guess not…