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The problem is that elites on the right see any rehabilitation of Keynes as a direct threat to the present purchased consensus around 'Mainstream Economics' and political attitudes about the role of governments in societies. And that consensus constitutes a large part of their support for their current capitalization. Expect them to be willing to kill to preserve that consensus.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Oct 31st, 2014 at 09:57:48 AM EST
[ Parent ]
And Kaletsky is only talking about Keynes being right about fiscal stimulus, not even the euthanasia of the rentier (about which Keynes was right, too).

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Migeru (migeru at eurotrib dot com) on Fri Oct 31st, 2014 at 11:51:06 AM EST
[ Parent ]


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