Thursday, March 31, 2005

A Word from Mr. Keynes

"The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed, the world is ruled by little else. Practical men, who believe themselves to be quite exempt from intellectual influences, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back"

-John Maynard Keynes-

I choose to post this quote not only because Keynes is my favorite economist, but also because I am an International Relations major and am considering a second major in Economics. My aim is such to become the 'academic scribbler' Keynes is discussing. I agree with him, in that I too see the world directed largely by economic & political theory. I study with the hope that someday I may be in a position where I may have a large affect in empowering the oppressed, motivated by my heart of social justice. Hotel Rwanda reminded me why I am in school, and why I am an IR major, because honestly I could care less about the Republicans or Democrats, or the new face of the DNC. I mean its all fine and fun at times, but the reality is there is alot of oppression left in this world and I hope that I may, to whatever degree is possible, follow in the footsteps of such great figures as Mandela and King and add a grain of hope to this world.


At 1:35 PM, Blogger bombasticbeats said...

I know little to nothing about economics but John Maynard Keynes sounds fascinating. I'll check him out the next time I'm in Barnes and Noble. Probably the closest I've come to reading political or economic philosophy is Focault. I really like the way he traces who has power and what it means to those with and without it.

At 4:33 PM, Blogger Bryan said...

Keynes is a famous British economist from the depression era. At the time most economist were very classical in thier thinking and wanted to leave the market to its own without government interaction. Keynes came up with ideas that said, that yes the market works most efficently when left alone. However sometimes due to externialities(sp) the market fails and cannot correct itself. That is to say that it is no longer cyclical but progressivly downward as seen in the great depression. Therefore it is governments role to increase spending thereby increasing its share of the market and giving it a boost. Haha there you are kids, a very general intro to keynesian economics. Brandon if you want a good general book on economic theory i suggest Robert Hielbroners, "The Worldly Philosophers" a disertation explaining economic theory from fuedalism to neo-capitalism. You should be able to find it at Barnes and Noble with no problem.

At 8:31 PM, Blogger bombasticbeats said...

Thanks Dale, I'll have to check that out.


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