Wednesday, June 22, 2016

Improving my vocabulary................ word at a time.

IT WILL BE ADMITTED by the least charitable reader that the entertainment value of Mr. Keynes' General Theory of Employment is considerably enhanced by its satiric aspect. But it is also clear that many readers have been left very bewildered by this Dunciad. Even if they are convinced by Mr. Keynes' arguments and humbly acknowledge themselves to have been "classical economists" in the past, they find it hard to remember that they believed in their unregenerate days the things Mr. Keynes says they believed. And there are no doubt others who find their historic doubts a stumbling block, which prevents them from getting as much illumination from the positive theory as they might otherwise have got.

-Sir John Hicks,  Mr Keynes and The Classics:  A Suggested Interpretation

I will confess to not knowing much about Keynes, other than his name gets tossed around a lot when economics is in the discussion mix.  His General Theory is loaded on my Kindle, but no investigative attempt has yet been made.  This essay from Hicks was found in the Intertunnel after Mervyn King made mention of it.  I'm thinking that Hicks is not a fan of Keynes, although further reading may prove that assumption incorrect.  Regardless, the word Dunciad was a new one for me. Described here, maybe most recognizable from here.  Enjoy.

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