I want to make a thread that gathers critiques of Post-Keynesian, because many current Keynesians and in general statists economists attempt to use their claims and rhetoric to "save themselves"(from what ? From the current discrediting of mainstream economics). Here is a review of Steve Keens book Debunking Economics by Robert Murphy and Gene Callahan. Its the 2001 version. Review of Uncertainty in Economic Thought Review of The Keynes Solution: The Path to Global Prosperity - Paul Davidson by David Gordon "Do Central Banks Really Inflate? No, Say the Post-Keynesians" - Frank Shostak "Does the Current Financial Crisis Vindicate the Economics of Hyman Minsky?" - Frank Shostak Critique of "Destabilizing a Stable Economy" - "krazy kuju" "MInsky Having a Moment" - Robert Blumen A short commentary on Hyman Minsky Hummel on Graeber - David Henderson Reviews shortly David Graebers book. Origin of the Specie - Robert P. Murphy A Review of David Graebers book "Debt: The First 5000 years" Steve Keen Mistakes on ABCT and the Austrians - "EEmr" Refutation of Marx/Keen critique of Says Law - Smiling Dave I also suggest all knowledgeable forum posters, take a Minsky/Keen article and examine it. Others are: Michael Kalecki Abba Lerner Joan Robinson Michael Hudson Lars Syll Basil Moore People who have something else to post that is for example, should be banned: Argumentation between Post-Keynesian vs Austrian (this is supposed to be a resource page, not an eternal discussion between "socialdemocracy21" and austrian users) Mocking or useless statements concerning either PKs or Austrian economics Make your own topic for that purpose But suggestions are welcome and also contributions to the collection :)
Nice idea.
If I recall correctly, Jonathan Catalan liked Steve Keen's Debunking Economics.
What does that tell you?
My articles about Steve Keen:
https://smilingdavesblog.wordpress.com/2012/04/21/marxs-refutation-of-says-law-thank-you-steve-keen/
https://smilingdavesblog.wordpress.com/2011/11/29/steve-keen-as-santa-claus/
My humble blog
It's easy to refute an argument if you first misrepresent it. William Keizer
I'd put anything by Israel Kirzner on here. Awesome guy.
I found it a provocative critique of basic Neoclassical theory. The second half of the book (where Keen presents his own theory) I think is pretty bad, including his critique of Say's Law and his reformulation of Marxism.
Jonathan,
Ty for restoring my faith in you.
Directed to "SkepticalMetal" How is this relevant ?
I have noticed that "Modern Monetary Theory" has been growing in influence without any real challenge. I know Robert Murphy challenged it, however I don't think it was devastating because he self admittingly didn't deeply understand it.
What's to deeply understand? The idea is simple: The govt has a printing press, will use it, and thats good for everyone concerned, as long as they dont print so much that they cause hyperinflation, or maybe normal inflation, whatever.
If they can print tons of free money, they dont need to collect taxes, obviously. [Here's where he forgets about the inflation proviso] Therefore, since everything the govt does is for a good logical reason beneficial to the economy, there must be another reason they collect taxes. And what is it? Some ridiculous thing or other, I don't remember, maybe to give value to the money, since you need it to pay taxes.
The top guy propounding this visited the forums here a while back, and IMHO was demolished.
Link?
Jonathan. Do you plan to write a review ? The more material on this, the better.
Conservative-Libertarian I forgot about modern monetary theory, I will look for that. What is the other monetary theory called ? Circuit theory or something ?
The Upside-Down World of MMT - Robert Murphy A critique of modern monetary theory Aren't Deficits Another Name for Saving? Nope. - Robert Murphy HuffPo Abolishes Scarcity - Robert Murphy Are MMT and AE compatible - Smiling Dave Robert P. Murphy on the Sraffa critique Sraffa's Production of Fallacies by Means of Fallacies - Robert P. Murphy EXPECTATIONS AND THE MEANING OF INSTITUTIONS - p 154 - Ludwig Lachmann Lachmann discusses the Sraffa-Hayek debate Earlier threads An Austrian Critique of MMT ? MMT redux The Trouble with Modern Monetary Theory Forum Critique of Chartalism and Post-Keynesians Moderators, how can I, or can I edit my original post ? Would save me time.
Yea, but I have to re-read a lot of the book. And, Keen invokes Sraffa, and I feel that I should have a stronger handle on him.
Btw, if we're collecting online source material: Piero Sraffa, Production of Commodities by Means of Commodities. Just be happy we he (Freudian slip?) only provided a "prelude," and as far as I know nobody has gone much beyond it.
LOL, i feel the same way Catalan. There is a lot of narrative, labels and omissions that can be critiqued but it might become to much to nitpick about.