JM Keynes' Advice For Presidents Past, Present and Future

And some of them fund right wing disinformation campaigns.
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Not all, it goes without saying, but some.
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As the Keynsian economist John Kenneth Galbraith once wrote:

Scientists [and other intellectuals are] imporant competitors of the businessmen for public esteem.
This competition is especially noticeable in comment on public affairs--on economic policy, foreign policy, the effect of government measures on popular morals and behavior... No one enjoys quite such distinction as the man who, by common consent, is allowed to look ahead and advise as to what we should do to promote or retard a particular occurence. The intellectual naturally assumes his authority on these matters. He is likely to be gifted well beyond the businessman in erudition and oral capacity. That felicity the businessman counters by stressing his identification with production...

...Were anything to happen to the prestige of production, it is plain that the businessman, whose mystique is his identification with production, would suffer severely in his competition with the intellectual...

Another quote:

Scientists are not without prestige in our day, but to be really useful, we still assume that they should be under the direction of a production man. "Any device or regulation which interferes, or can be conceived as interfering, with [the] supply of more and better things is resisted with unreasoning horror, as the religious resist blasphemy, or the warlike pacifism."

Sorry, those links are supposed to go to The Affluent Society.

Did Keynes have dudes tied up in his basement. Sure sounds like it.

Paul Krugman quoting Keynes: "Words ought to be a little wild, for they are the assaults of thoughts on the unthinking."

At a time when he is hated and humiliated by his own kind Bush has a chance to become a hero to millions of workers. Maybe the Left should treat him as a hero too?

The Republicans seem to want about 20 dollars of blood from the northern workers, to match what they pay in benefits in the south. Why don't they tie the auto sector rescue to a health program where costs are amortized over millions of people? I'm sure that would alleviate the extra burden on Detroit, to the tune of 20 dollars or more.

OT but the Minnesota State Canvassing Board just ruled to allow ballots rejected for clerical error (Like my out of state nephew) which makes it very likely that Franken beats Coleman.
A blessing for Coleman as it will allow him more time to work on his legal defense.

The bailout isn't about the politics of business, it's about the ideology of politics. Ideology is what killed the bailout and has been at the core of all recent economic debates. Maybe it's time we put sane business principles at the forefront of the discussion. No left, no right, just centrist common sense.

http://www.political-buzz.com/

derekg: Don't ascribe such altruistic motives to Bush's move. He's not trying to save workers; he's trying to kick the can, so that if the auto companies go down, they will go down on Obama's watch rather than his own.
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Right now, they are just talking about bridge loans to get them through December. As far as I know, there are still no solid plans on how to make Detroit viable for the long-term.

Dick Cheney on the failure: It's "Herbert Hoover" time.

The real Archie Bunker would have been an FDR man (NYC blue collar? Come on) but anyway, take it away, Archie: http://www.youtube.com/watch?v=0d8FTPv955I

That is insane. Dick Cheney compared the Senate GOP to Herbert Hoover?!? Wow, we really are living in a Dali painting.

Keynes also said, "In the long run, we are all dead."