Re: [Pen-l] I want to know

["Bill O'Connor" <billyoc@xxxxxxxxx>]

Doug Henwood <dhenwood@xxxxxxxxx> writes:

> On Apr 3, 2009, at 6:20 PM, Jim Devine wrote:
>
>> monetary cranks are ... cranks.
>
> I could swear that Keynes said somewhere that the essence of monetary
> crankery is thinking that if you fix money, everything else will fall
> into place. I can't find the quote, alas. But it seem right. Cranks
> love to blame the Fed for our problems, and have little to say about
> property ownership, the distribution of income, the nature of work,
> our relation with the earth, etc.

I, uh, found this:

"Keynes observed - somewhere in the  Treatise, I think - that the mark of
a crank is the belief that  if you fix "money" everything else will fall
into  place,  /but  then  he   suggested  precisely  that  in  the  GT./"
(emphasis added)

http://archives.econ.utah.edu/archives/pkt/1994m04/msg00049.htm

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