I was at some friend's last night. We were discussing
politics. I do try to make an attempt to remain calm
and rational about the terrible things the Conservatives
are doing with their liberal buddies to the UK.
They seem to be asset stripping
the UK. No doubt we will long for the time,
when an MP just used to take money
from the state illegally to clean his moat, rathefr thn give money to the
banks. No doubt manry of the conservative MPs will endup working
in thefinancial sector when they leave parliment.
There has to be a better way! The final years of the labour goverment were spent trying Keynsiam economics. As s result the ression didn't seem as badas one the during the 80s. Now that the conservatives are back in power things are getting worse again. I kept thinking I should know more about this John Maynard Keynes, so I purchased "Keynes: The Return of the Master" on Kindle
Part of the conservatives plans never made nay sense to me. Their idea that any jobs lost from the state sector would be immediately taken over by the private sector, never made any sense to me what so ever. After reading this book I realized that this is an assumption of classical economic models. As far as I can tell the assumption of the jobs going from the state into the private sector is just to make the equations easier to solve.
All you hear in the mainstream press is the idea of the efficient market theory, but after this last crash -- it doesn't look so efficient to me. It stunned me to see that a goal of Keynes economics was "full employment".
Keynes was also a part philosopher, as well as a speculator in the money markets. So the author recommends that the practitioners of the dismal science also learn about history and philosophy, rather than just concentrate on mathematical models. .