Re: Is Keynesianism right or left?

[Andrew Wayne Austin <aaustin@xxxxxxxxxxxxxxxxxx>]

Depends on what one means by left. In my view, left is a commitment
against capitalism. In this view, it is hard to imagine in what way
Keynesianism might be left.

On Sat, 6 Jun 1998, LYNN TURGEON, PROFESSOR EMERITUS OF ECONOMICS, HOFSTRA UNIVERSITY, ECOELT@xxxxxxxxxxxxxxxx wrote:

> 	According to Stan Menshikov's June Newsletter, the new right-of-center 0Hungarian
> government of Fidesz is proposing a Keynesian policy, something that Menshikov
> has been advocating for Russia for a long time. They propose an easier fiscal
> policy, more government expenditures on health, education and R&D as well as
> reductions in social security taxes, income taxes and the VAT. They are also
> proposing greater protectionism during the transition.
> 	In a recent post by Michael Perelman he claims not to have found my
> reference to when Nixon (also right-of-center) described himself as "now a
> Keynesian" See NYT index dor 1971, p.1753. Howard K Smith,one of four
> journalists who questioned Nixon on TV on January 5th, asked Nixon after the TV
> debate whether he was a Keynesian. He was now balancing the federal budget at
> full employment although he was in the midst of his recession durung the
> Vietnam War. There is no reference to this in the Nixon Library and I write
> letters to both Nixon and Crowley but failed to receive answers.
> 	As others have mentioned, Reagan was a better Keynesian although he too
> was right-of center. Oswald Moskey was as Keynesian as JMK in the twenties and
> even joined the British Labour Party during the MacDonald administration when
> he was a MP. When Hitler became a practicig pragmatic Keynesian (also right-of
> center) Mosley took over the leadership of the British fascist party and broke
> with Keynes. Skidelsky's biography of Mosley is must reading here.
> 	In the postwar years, right wingers here used the hyphenated term,
> Marxist-Keynesian to descrobe Keynesianism. I would conclude that Keynesians
> can be either right or left.
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