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On Fri, 18 Jun 2010 09:00:43 -0400 Louis Proyect writes:
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>
>
> But the Keynesian revival, so far, is partial and expedient rather
> than thorough-going. Keynes�s �somewhat comprehensive
> socialization of investment� remains taboo, and when Hyman
> Minsky�s famous reinterpretation of Keynes was rushed back into
> print last year (Minsky developed through Keynes a theory of
> bubbles and their bursting), the author of the preface to the new
> edition assured readers that Minsky�s own advocacy of public-led
> investment could be ignored. There are at least two Keyneses: the
> tinkering inspiration for the so-called neo-classical synthesis,
> who demonstrates the ultimate viability of capitalism in spite of
> bouts of crisis; and the suave radical whose call for the �the
> euthanasia of the rentier� doesn�t stop far short of taking the
> rentier out to be shot. This second Keynes lives next door to the
> Marx who in the Manifesto insisted on the �centralization of
> credit in the banks of the state,� and hasn�t been heard from
> much
> lately.
>
See Paul Sweezy "About Keynes and Keynesians"
http://mrzine.monthlyreview.org/2010/sweezy110610.html
and Harry Magdoff and Paul M. Sweezy, "Listen, Keynesians!"
http://mrzine.monthlyreview.org/2010/ms130610.html
Jim Farmelant
http://independent.academia.edu/JimFarmelant
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