WHY I AM A KEYNESIAN.

WHY I AM A KEYNESIAN. John Maynard Keynes himself gave the explanation for why I look at the world through Keynesian spectacles. In THE GENERAL THEORY OF EMPLOYMENT, INTEREST AND MONEY, he wrote: “The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back.” I am not a madman and I do not have a position of authority. However, I was taught Keynesian economics in the 1960’s. Kids, take note of the beliefs you are forming today because some of them will stay with you forever.