On this day in 1883, the great economist John Maynard Keynes was born. Last year, I spent most of the time complaining about how this depression we are still in was in no fundamental sense different from the Great Depression, yet policy makers were determined to ignore everything we learned from Keynes. I noted that things weren’t nearly as bad because we had automatic policy like Social Security and unemployment. But I have little doubt that if we didn’t have those stabilizers, the economic conservatives still would have decided to do nothing to help the people. As it was, conservatives have done everything they could to undermine the social safety net at exactly the time when we need it most.
It would have been one thing if in 1999, when the economy was booming and anyone who wanted a job could have a job, Paul Ryan had made his comment about the social safety net lulling able body people into life of complacency. But we have been getting this rhetoric (And worse!) during a period when our employment to population ratio is five percentage points less than it was during most of the Bush the Younger years.
I have begun to think that maybe Keynes wasn’t such an original thinker. Sure, he was brilliant and all. But economics has pretty much always been a handmaiden of policy makers and so economists have always tended to tell the power elite what they wanted to hear. That’s one of the reasons that Marx is so vilified. And Keynes isn’t far behind him in vilification, despite the fact that economically speaking they are on opposite poles. But just like Marx, Keynes told the power elite things they didn’t and still don’t want to hear.
Where Keynes’ brilliance laid (and that of most geniuses) was in seeing things clearly rather than through a veil of established wisdom. His important work all seems to be based upon the paradox of thrift. That was an idea that was very old. Adam Smith wrote, “What is prudence in the conduct of every private family can scarce be folly in that of a great Kingdom.” But it was Keynes who grabbed onto it and showed how it explained depressions.
But even after the Great Depression and the clearest demonstration that Keynes was right, we find ourselves in the same situation. The same disproved theories that were used during the Great Depression to justify the government doing little or nothing were brought out during this depression for the same purpose. Of course, they were given need clothes. There was Reinhart-Rogoff with their 90% debt cutoff that was bogus. There was Alesina-Ardagna with their expansionary austerity that was bogus. And now, we are left with Keynes and only Keynes.
And what do we do? Nothing. Because doing nothing was always the plan of the policy makers—the power elite. They don’t see economics as a science that can make the running of the economy better. They see it as a form of apologetics to be used to justify whatever policy they prefer. So when R-R and A-A went down in flames, it didn’t matter. They were just objects to be held up to the masses to justify policies that enrich the rich and impoverish the poor. Those policies were given, it was just nice to have their little stable of kept economists who will twist their data and models to justify those policies. When they can’t do it, the kept economists are sent away like court jesters who have begun being tiresome.
Meanwhile, Keynes was right. And that matters in the intellectual history of humanity. But it doesn’t matter at all when it comes to the policies that economic conservatives put forward.
Happy birthday John Maynard Keynes!
Ed Kilgore is right to noted that here in California we have a really stupid primary process, 
I just got back from work and I am exhausted. But I happened across a bit of Fox News and I saw Charles Krauthammer talking about what a bad precedent Bergdahl sets and how Israel had to release over a thousand terrorists for one guy. At first I thought, “Yeah, and that was a deal that the Israelis were willing to make to get Gilad Shalit back. Who are you to second guess them? They obviously thought it was a good deal!”
Charlie Savage and Andrew Lehren over at The New York Times wrote a really interesting article yesterday,
Okay, I’ll bite. You see, I have a bit of a problem. Last year, for the 
Well folks, sometimes other things intrude on my normal life stuck here in front of this computer screen. Today, it was a rather large “emergency” project for a company that found the network and phone system in their new office not working. I love that kind of work. It’s always exciting to troubleshoot these kinds of problems. Of course, it would be easier if these people would just hire us to do the stuff from scratch. But there is something wonderful to go in and see an old and complex system. It’s like archaeology. You can see how it all started and how things were added over time. And step by step they take a well designed system and turn it into a nightmare.
There is a term that I’ve been using for a long time, and last week at The Nation in an article
Dean Baker wrote another one of those blog posts, 
It is such a difficult choice for birthdays today.
Well, it is election day here in California, and I suppose I should tell you how I’m voting, because that’s what I do. None of this should be shocking. And it is kind of a boring election. Partly, this is true simply because I think that things are going reasonably well in the state. But going through everything has really made me realize that I need to pay more attention to what’s going on in education in this state. There is so much money to be made off educating California’s children, I have real questions about a lot of the people who are swarming around trying to “help” failing schools. Of course, I think the whole school reform movement is a joke anyway and I have radical ideas about education—namely that it shouldn’t be about providing the best labor force for the economy. We are educating citizens, not factory workers, or even worse, grill managers.
Too few people understand that citizenship is not just about rights; it is also about responsibilities. That’s why I think everyone should vote at a minimum, although I do think as a country we make it harder than it ought to be—especially for the working poor. But if a democracy is not constantly tended to, it turns inexorably into an oligarchy which I believe I have been seeing my whole life. When it comes to one thing that everyone cares about—the economy—there really isn’t much choice among the parties. “Liberalism” has come to mean “social liberalism” and “conservatism” has come to mean “social conservatism” because both parties now agree on what I call “economic conservatism.” And the worst kind of economic conservatism. (If you don’t know what I’m talking about, you really should read Dean Baker’s excellent
But while going over it all, I noticed that there was only one person arguing against both these measures: Gary Wesley. I don’t know how I managed to not know about Wesley until this time, but it has only been recently that I’ve been following politics while in California. Still, it is a major oversight because Wesley is a legend. Back in 1986, The Los Angeles Times wrote,