Nice. She doesn't get half the credit she deserves.
She said somewhere that in talking about boosting investment, Keynes
and the Keynesians never asked what investment was for (i.e., it was
just about raising the quantity, but not about what was being
created). You happen to have that passage in your handy quote-base?
Doug
On Aug 4, 2006, at 9:22 PM, Michael Perelman wrote:
Robinson, Joan. 1962. "The Keynesian Revolution." in Joan Robinson,
ed. Economic
Philosophy (Garden City, NY: Doubleday Anchor): pp. 75-100.
99-100 "There is in some quarters a great affection for credit
policy because it
seems the least selective and somehow lives up to the ideal of a
single overall
neutral regulation of the economy. The enormous ideological
attraction of the
Quantity Theory of Money ... is due to the fact that it conceals
the problems of
political choice under an apparently impersonal mechanism."
On Thu, Aug 03, 2006 at 03:45:35PM -0400, Doug Henwood wrote:
I thought orthodox types like monetary policy because it's
"technical" and "beyond politics," while fiscal policy is inevitably
political.
