Today’s Keynesians have learnt nothing. Por Niall Ferguson.
Certainly. Long before Keynes was even born, weak governments in countries from Argentina to Venezuela used to experiment with large peace-time deficits to see if there were ways of avoiding hard choices. The experiments invariably ended in one of two ways. Either the foreign lenders got fleeced through default. Or the domestic lenders got fleeced through inflation. When economies were growing sluggishly, that could be slow in coming. But there invariably came a point when money creation by the central bank triggered an upsurge in inflationary expectations.
The remedy for such fears must be the kind of policy regime-change Prof Sargent identified 30 years ago, and which the Thatcher and Reagan governments successfully implemented. Then, as today, the choice was not between stimulus and austerity. It was between policies that boost private-sector confidence and those that kill it.
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Keynes não inventou nada, apenas sistematizou e deu suporte científico aquilo que na sua época caiu como “sopa no mel” dos políticos estatizantes(de direita e esquerda) da sua época.
A sua personalidade controversa e as polémicas mediáticas em que se envolveu tornaram-no uma celebridade.
No entanto ainda hoje, em especial os seus defensores, desconhecem ou ignoram a totalidade das suas ideias. São os Keynesianos “à la carte”, que isolam partes daquilo que nos deixou escrito, para justificar as políticas e os governantes dos nossos dias.
Comentário por ricardo saramago — Julho 20, 2010 @ 16:52