Odd Lots Why Studying Keynes Is More Important Than Ever
Jul 13, 2020
Zach Carter, a senior reporter at Huffington Post and author of "The Price of Peace," dives into the life and ideas of John Maynard Keynes in a timely discussion. They explore how Keynesian economics is reshaping responses to current economic crises, emphasizing the balance between government intervention and individual liberties. Carter also reflects on Keynes' evolution from the gold standard to advocating for progressive health care, highlighting the moral imperatives of his theories in tackling inequality and combating authoritarianism.
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Keynes's "General Theory": A Deliberate Puzzle
- Keynes's "General Theory" is dense because he grappled with radical implications and wanted economists to engage deeply.
- He aimed to legitimize his policies by making the theory complex, empowering economists to influence policymakers.
Keynes's Radical Challenge to the Gold Standard
- Keynes challenged the gold standard, the dominant economic and geopolitical order of his time, advocating for government intervention.
- His ideas were radical, disrupting the established way of thinking about international economics and cooperation.
Zach Carter's Journey to Keynes
- Zach Carter, initially struggling with the "General Theory," found Keynes's "Economic Consequences of the Peace" insightful.
- This book, about the Treaty of Versailles, revealed Keynes's focus on international cooperation and political theory, not just economics.
