The Coronavirus

[David Horn]

(02-20-2021, 11:14 PM)beechnut79 Wrote:

(02-20-2021, 09:52 AM)David Horn Wrote: It's noteworthy that economic dogmas have a short shelf life.  What we call "the economy" has changed so much in the last 200 years that its hard to see much of the past being relevant today. Keynes was uniquely foresighted by being fully open about the economic model.  He focused on the human factors.  Marx, on the other hand, was totally immersed in his model, which is so out of date today it's hard to take it seriously anymore.

But Keynes wasn’t right on everything either. Nearly a century ago he predicted that by this time most of us would be working 20 hours per week or less. Later futurists made similar predictions. And yet it seems that so many of us perhaps the majority are working more instead of less and have had to forgo gatherings with friends along with hobbies. One of the big lies of our times IMO. Wonder if we’ll ever see this more leisured society ever happen.

Keynes noted what should happen, but failed to appreciate the power of the ownership class to overwhelm the working class by getting them to believe they were unworthy. After all, Keynes was an economist, not a sociologist. Sadly, the veil remains in place. There are a few folks working to pick that lock. My money is on Heather McGhee -- first among the many.