No, not Jim Morrison, although that's who is cited in that Rolling Stone quote. We're talking about John Maynard Keynes, the 20th century ethical economist who was displaced as a guru by Wall Street greed, Reaganomics and Milton Friedman.
Well, now. Come the 2009 recession, and all the free-market, Chicago schoolers are suddenly on life support. Friedman is now literally and philosphically dead, and Reaganomics is being blamed for every bank failure since LBJ. Just how permanent that may be will be left to Barack Obama, Paul Krugman and luck.
It has often been said that the Wharton School's MBA Economics final exam is the same every year, that only the answers change, to which we can now append another 20th century adage, the one with the circled paragraph and hand-penned note in the margins of a hundred romance novels -- "How True!"
(Click on the headline to read Salon.com's wonderful take on this state of our economic affairs.)
In Morocco we do not allow Freedman because he is a Zionist or Keynes because he is an imperialist. We allow Reagan because he is a Cowboy and we like cows.
ReplyDeleteYou like farmers? Allow Carter.
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