Where do us Post-Keynesians fit in?
by Jeanne aka JStor on February 25, 2009
As a kid, I rode my bike all around Brooklyn, on the streets, through the parks, against traffic–sans helmet. Coming home one day, down my own block, I stuck my foot into the front wheel spokes. The wheel came to a complete stop and I flipped over my bike. Ended up pretty bruised, but no broken bones.
————————————————
My only friend at work sent me this:
Taking the Name of Lord Keynes in Vain
We both laughed at the article. I call Tennessee (not his real name, but it’ll do) my only friend cause he’s the only person at the office I’ll drink with regularly (and not out of work obligation). Tennessee is a libertarian economist and there aren’t any logical reasons why we’re friends. I mean seriously:
- His econhero is Milton Friedman. Mine is Hyman Minsky.
- He’s a conservative. I make liberals look conservative.
- He once emailed me an article on some “crazy” professor who wanted to reform Social Security and 401Ks. That professor was my mentor & thesis adviser.
You get the picture. Oddly enough, we both hate EVERYTHING Freakanomics related. With a passion (another post–someday). And neither of us can believe the entire Econonerd world thinks they are now a Keynesian.
We’re both pretty staunch in our beliefs (him: free trade & no government; me: regulation & all government). But what neither of us gets is: how does one stop believing in everything they embraced in grad school? How do all the business executives, financial analysts/economists just stop in their tracks and do a complete 360 without falling off their bike? Why was it so easy for them to dump their neoclassical training and beliefs, and become a Keynesian (possibly again, if they jumped off and on the boat in the 70s and 80s, respectively as well)?
And it leaves me a little bit more confused and out of place. Where does that leave me and my fellow heterodox economists? Why hasn’t anyone in the mainstream community say “Hey maybe those crazy Post-Keynesians who stuck by their guns all these years are right?” Where do us Post-Keynesians fit in?
PS: Oh, Tennessee and I both like bourbon and beer. Maybe that’s why we’re friends.
Tags: Heterodox Economics, Keynes
