Wednesday November 9th 2011 Tim Candler
Keynes heartily approved
of individual decision. He saw nothing but inefficiencies from
committee or from government. He managed what these days is called
a hedge fund, where any decision is risk management. His wealth
came from inheritance. And as an economist he wanted to keep things that
way. So it is hard to grasp why it is the right wing of the
political spectrum has so suddenly made an enemy of him.
Have to suspect they never read his General Theory.
Instead they prefer the message of Frederick Von Hayek, for whom the future
was all about morality and proper thinking which could be simply maintained
by surrender to market forces. I can hear the Hayek song, loud and
clear. I can hear Keynes still trying to save the market from itself.
As well, I can see Marx smiling from his grave. And it's a little
depressing to know not much has changed since the 1817 Luddite march on