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I am inclined to take this column more seriously than Andrew does. Though to begin with it does seem strange that the best an anarchist can come up with is a return to Keynes and that is what the Modern Monetary theory is in essence, I believe. Equally strange is Graeber's choice of the metaphor of sado-masochism. Those who are imposing austerity are doing very nicely thank you. If that is masochism then I would not mind a dose of it. However what is really in play as far as I can detect is the attempt by the Keynesians to make a come back. Graeber for his own reasons is using the Reinhart and Rogoff spread sheet error to get on board and to boost the return to Keynes. That brings me right back to my first point. How unrevolutionary of him! I have already said that a revival of Keynesianism is not on the cards at the present time. Still I do not think any great harm is done by attacking the legitimacy of the Austerians and that is what the discrediting of R.& R. is all about IMHO. comradely Gary ________________________________________________ Send list submissions to: Marxism@greenhouse.economics.utah.edu Set your options at: http://greenhouse.economics.utah.edu/mailman/options/marxism/archive%40mail-archive.com
