tag:blogger.com,1999:blog-3839095285321791359.post1050795185781096004..comments2024-01-03T17:29:03.548-08:00Comments on Ecological Headstand: Is the Economic System Self-Adjusting?Sandwichmanhttp://www.blogger.com/profile/11159060882083015637noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-3839095285321791359.post-26553559837351008932015-04-25T01:08:47.699-07:002015-04-25T01:08:47.699-07:00Do economies self-adjust? Well the fact is that ec...Do economies self-adjust? Well the fact is that economies recovered from recessions in the 1800s – prior to the days of demand management. Though the PACE OF recovery was doubtless not all that quick.<br /><br />As to what the recovery MECHANISMS are, there are two, far as I know. First the Pigou effect and second, Say’s law.<br /><br />Ralph Musgravehttps://www.blogger.com/profile/09443857766263185665noreply@blogger.comtag:blogger.com,1999:blog-3839095285321791359.post-15728020283434153192015-03-30T11:26:45.227-07:002015-03-30T11:26:45.227-07:00This is great. The whole secular stagnation conver...This is great. The whole secular stagnation conversation has not moved an inch forward from here. This is a useful corrective for people in the Krugman ilk who think that the "ZLB" reflects some kind of economic fundamentals, instead of interest rates just being one parameter (actually several parameters) among others that influence desired spending. But it's also a good corrective JW Masonhttps://www.blogger.com/profile/10664452827447313845noreply@blogger.comtag:blogger.com,1999:blog-3839095285321791359.post-59569865076674545602014-09-05T19:52:17.188-07:002014-09-05T19:52:17.188-07:00I don't know who specifically the English econ...I don't know who specifically the English economists were he was referring to. Maurice Dobb was a junior colleague of Keynes's and Keynes was very supportive of him. I don't think Keynes had a very intimate familiarity with Marx's <i>Capital</i> and presume he got most of what he thought about it second hand. In the 20s and 30s, Soviet Marxism would have been very prominent, the Sandwichmanhttps://www.blogger.com/profile/11159060882083015637noreply@blogger.comtag:blogger.com,1999:blog-3839095285321791359.post-79543942414928189952014-09-05T18:31:50.947-07:002014-09-05T18:31:50.947-07:00Sandwichman,
Do you know who those "English ...Sandwichman,<br /><br />Do you know who those "English economists" Keynes mentions are?<br /><br />In particular, did Keynes actually speak with any Marxist, as he seem to imply? <br /><br />I ask because he includes "Marxism in orthodoxy equally with laissez-faire", but then goes on to state an underconsumptionist view of Marxist crisis (at the time, probably the dominant Magpiehttps://www.blogger.com/profile/07528637318288802178noreply@blogger.comtag:blogger.com,1999:blog-3839095285321791359.post-73095383267851643472011-02-12T07:43:02.607-08:002011-02-12T07:43:02.607-08:00i read somewhere something from keynes who predict...i read somewhere something from keynes who predicted by 2000 nobody would work more than 20 hours a week. probably due to full unemployment policies (or maybe humantity can just retire after working all that time).Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3839095285321791359.post-38756212937275774062011-02-05T11:48:08.289-08:002011-02-05T11:48:08.289-08:00This occurs a couple of years before the publicati...This occurs a couple of years before the publication of THE GENERAL THEORY, and shows how he was thinking.<br /><br />This is key, I think:<br /><br /><i>When the rate of interest has fallen to a very low figure and has remained there sufficiently long to show that there is no further capital construction worth doing even at that low rate, then I should agree that the facts point to the necessityJazzbumpahttps://www.blogger.com/profile/07337490817307473659noreply@blogger.comtag:blogger.com,1999:blog-3839095285321791359.post-34704717504850974642011-02-05T11:42:11.742-08:002011-02-05T11:42:11.742-08:00All the more reason to speed up completion of my &...All the more reason to speed up completion of my "April Fools" rejoinder to the Hamilton Project's job creation prize!Sandwichmanhttps://www.blogger.com/profile/11159060882083015637noreply@blogger.comtag:blogger.com,1999:blog-3839095285321791359.post-24871669347647398032011-02-05T11:27:22.966-08:002011-02-05T11:27:22.966-08:00Hey - Delong picked up your post.
http://delong.t...Hey - Delong picked up your post.<br /><br />http://delong.typepad.com/sdj/2011/02/is-the-economic-system-self-adjusting.html<br /><br />You're keeping good company.<br /><br />Cheers!<br />JzBJazzbumpahttps://www.blogger.com/profile/07337490817307473659noreply@blogger.comtag:blogger.com,1999:blog-3839095285321791359.post-11581715080315486042011-02-05T04:25:56.422-08:002011-02-05T04:25:56.422-08:00First you tell me Keynes was a crank, and now I co...First you tell me Keynes was a crank, and now I come to find he was a heretic as well? I knew there was a reason why I liked him.nanutehttps://www.blogger.com/profile/04526158764171117978noreply@blogger.com