George Reisman on Keynesianism (Capitalism, 1996, p. 867):
In view of the virtually total intellectual capitulation of today's neo-Keynesians, it may be asked why I believe it is necessary to engage in an extensive critique of Keynes's actual doctrine when his supporters themselves have apparently abandoned it and proceed as though he never even held it. My reason is -- precisely as the passages quoted above indicate -- that the world abounds with prominent intellectuals who do not take ideas very seriously -- who adopt them and then discard them on the basis of no more genuine intellectual conviction than stands behind a change in such fashions as the height of women's hemlines or the width of men's neckties. What has been casually discarded for the present can just as easily be picked up again in the future. My purpose in what follows is to provide intellectuals who do take ideas seriously with the means of quashing any possible future resurrection of Keynesianism.
Tags: politics, quotes