Re: Globalization and its Discontents

[Paul Davidson <pdavidson@xxxxxxx>]

At 04:10 PM 4/19/2002 -0400, you wrote:
>      With regard to _The Commanding Heights_, I
>   But the idea that his [Keynes's] views resembled
> those of either Marx or Lenin are fairly ridiculous in general,
> although much of his analytical framework can be found in
> Marx, not a point recognized openly by Keynes himself.

Not true at all! In his lectures leading up to the GT, Keynes specifically
indicated that in the entrepreneurial system, the only function of the
enterprise is to end up with more money than it started the production
process with . Keynes then specifically indicated this was equivalent to
the Marx 's
 M-C-M' claim.

\

> And,
> given the strong evidence that the spread of Keynesian policies
> of various sorts has played a major role in stabilizing somewhat
> macroeconomies in the post WW II era, the general thesis
> of the series (and the book) that "Keynes was wrong and
> Hayek and Friedman are right" is way overdone.



And like most of Barkley's writings this is an understatement ---)!

Paul