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I would suggest that since Keynes seems to have been effective until the oil crisis, we ought to substitute away from oil by brute engineering force, and then try his policies again, because all economic thinking since his is drawn from a poisoned well.

Or perhaps we should add rents to the keynesian theories.

by kjr63 on Tue Mar 12th, 2013 at 12:08:30 PM EST
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He had rents in his theory. He proposed Euthanasia.
by generic on Tue Mar 12th, 2013 at 12:20:22 PM EST
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Thank you for the link. Perhaps Keynes had but not keynesians.

In that link Keynes correctly notes that rentier capitalism does not reward real risk any more than land rent. He talks about rent of capital (scarcity rent) not land rent. I'm still skeptical what Keynes had to say about land rent.

Anyway it looks like Keynes makes clear distinction between land and capital.

by kjr63 on Wed Mar 13th, 2013 at 01:19:48 PM EST
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