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Breakingviews: Cult of Keynes

Thursday, May 09, 2013 - 04:24

May 9 - Historian Niall Ferguson is the latest pundit to make the mistake of asking ''what would Keynes have done?'', says Breakingviews, but his theories were made for another time.

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So as the Bank of England meets lady says today with the UK economy and stagnation that some will be tempted to lost. What what teams have done Brahimi says that wasting their time and historian Neil Ferguson is the latest pundit to make the mistake of getting thinks he's on economics. For another time Robert -- Joins me to talk us through proudest piece by Edward had us is a must have found -- found very interesting and quite compelling. Just just run us through the premise because it is what it. This question what would kings of Don how would teens do with the eurozone crisis we've we've had a lot of pieces like this means. Yeah I mean and the finger -- spot differences this time. Just a moment to some rather unfortunate comments that sent. You know folks he's referring to. Kings -- not a -- postal. Preferences I'm and making some sort wide kind of I'll try and draw some -- conclusions from guns. What we've what we've looked at bats and frankly getting there and we are yeah I would rather think that ridiculous trying to put. The point that I was a bigger point Ares. But well this forgive their flags and he's historian. Says he's allowed to look at history but I think he's a great. Great mistake trying to do too much to -- what would king's -- have done now. Kings is using AT&T. Seems a little bit. -- sort of surge in Iraq but it but that this is where it seems a little bit simplistic because it is to say. While kings was important then times have changed. It sure simplifying it a little. And Mosul -- loans are coming give the premise of edwards' argument is. -- things are much that's an album they were backed that so let's not use that argument and I'm nine and trying to yeah. Nothing that's absolutely right to me as -- things -- -- woods now and so looking design humans wouldn't necessarily be. Be relevant I think it but let's not just the causes in a completely black and -- kind of why. -- and hi I'm not saying. But kings is irrelevant the -- some kind of rhetoric. There is some very justifiable kind of intelligence we control from the from his writings. Notably. As the consumers received was in these guys that. Governments can make up for private sector. That deficiency. 88 it be in a convict him on by borrowing and by doing. It's -- things that's a very ruled. Observation which has been broadly taken. All boat but yes tighten up but now we need to do our own economic thinking. In our own context -- very different circumstances. So what do you just like -- what you'd like -- Can't overreact and say hey let's think about it and does everything we should we listen to now. Well -- -- in -- that's that's as good -- SI mentioned happens here and you do very well to listen to him because. You know he is writing to -- I but this symbol us and slumps it's about is it. I she should be listening to lots of people are watching today that may mean no one keynesian figure that may be no I hit. That doesn't necessarily mean you can't learn from if you like. The ruled. My -- on the board number of -- -- what is that it's intuitive had assistance that I took steroids on the -- -- powerful reason to pull Krugman in aid into -- of organized in the new times that you listened to Ben Bernanke he's quietly economists these days and I listened to Mervyn King particularly. As he. As he didn't -- into his very final phase of -- -- Vietnamese wanted to mark on him well. Yes yes mark -- does two point doesn't America love in is that it was season three of the shackles of having office. You must have some really really very obscene things over the next couple of months I I'll be well missed and -- while. OK very good that you brought up musicals on the -- the Reuters previous. Web sites. My thanks to our rubber -- to watch our US ship breaking news show. Every day twelve birdies in sixteen -- GMT on exit from the sources.

Breakingviews: Cult of Keynes

Thursday, May 09, 2013 - 04:24

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