> > >In the heyday of Keynesian, Hayek was a _young_ fossil; when he was an >old > >fossil, he triumphed. > > >jks > >Over Keynes? I think not. An Austrian critique of Soviet-style central >planning is much more defensible than an Austrian critique of Keynesian >demand management. I was not aware that your Austrianism reached such >heights, jks!
It's a joke, DD. As far as capitalist economies go, I am, as I have said here recently, a Robinsonian-Kalecskian, that is, a left Keynesian. jks > >How would you explain the recent conniptions in the NASDAQ in a manner >consistent with Austrian theory? The best I've seen the Austrians do seems >to be to do utter violence to their own concept of "malinvestment". > Well, Austians would say that it'--what did O'Neill say?--the "genius of capitalism." _________________________________________________________________ Send and receive Hotmail on your mobile device: http://mobile.msn.com
