Sunday, May 19, 2013

Gavin Kennedy: "On these issues I agree with Keynes"

Recommended reading.

From Keynes on Laissez-Faire at Adam Smith's Lost Legacy:

Keynes, rightly, points out that Adam Smith never used the words laissez-faire. And on the single occasion where he used the IH metaphor in Wealth Of Nations, it is a travesty to impute, let alone blatantly assert, that his words can be stretched to mean what Samuelson’s wild inference takes them to mean.

However, on this occasion I shall not develop that theme.

Funny, because Gavin Kennedy always develops that theme. Good post.

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