Hacker News new | ask | show | jobs
by parasubvert 4582 days ago
"We are living in aftermath of centuries of Keynesian policy, this is PART of the long run to which Keynes is dead in."

I don't know whether to laugh, or cry. Keynes was many things, but he was not a Time Lord.

We've been living with Keynesian policies for a tick under 70 years, which also has happened to correlate to the greatest wealth expansion in recorded history. It's a bit premature to point fingers as to why (or what has happened since the 1980's, which has caused middle class wages to stagnate).

Do keep in mind that Keynes was revolutionary because his ideas worked, even though they upended much of classical economics - they had (and continue to have) predictive power for how economies work, especially when interest rates are near-zero.