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Politics : Formerly About Advanced Micro Devices
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To: koan who wrote (782736)4/30/2014 1:38:11 AM
From: i-node  Read Replies (2) of 1580108
 
>> it was our understanding of Keynesian economics

According to Milton Friedman, who was a great friend of Keynes, knew him well, and respected his views, had Keynes not died when he did he likely would have reversed his position on Keynesianism within ten years.

Now, that is from someone who actually knew the man well.

At any rate, we now know that Keynesian economics has never worked, even one time, to do what it supposedly could and would. So, knowing about it is more about knowing what to avoid than it is about how to accomplish anything of value.
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