Tuesday, July 30, 2013
Channeling Keynes
Practical men, who believe themselves to be quite exempt from any intellectual influences, 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. -- Paul Samuelson, economist (1915–2009), Inside the Economist’s Mind (2006)
John Maynard Keynes is my economic idol, which is why I jumped at the chance to write the intro to the new edition of The General Theory. -- Paul Krugman
I know, it's usually broad and shallow sport to pick on Krugman. Anyone who spends that much time on one side of the teeter totter is bound to be dropped in the dirt fairly often. He's one of many voices you might be exposed to on economic matters (particularly if you follow the New York Times). He is known as the biggest voice for demand side economics. There are many who believe he is 93.6% or more wrong (your Wizer included).
Jeremy Hammond is the latest blogger to put him away
Know when to say when
Working more could ultimately mean thousands of dollars less for you under a quirk in the new health-care law going into effect this fall. This could prompt some people to cut back on their hours to avoid losing money. -- CNBC report on Value Penguin analysis
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