Slaves of defunct economists
Lorenzo Bini Smaghi, a member of the executive board of the European Central Bank (ECB) spoke on the subject of Keynesian economics last week.
Bini Smaghi said last Wednesday that Keynes's major contribution "has been to challenge common wisdom, which rests on human beings' innate tendency to tackle the problems they face in the same way as they did in the past, expecting to achieve the same outcome". Keynes said repeatedly that post-World War I leaders were attacking pre-war problems with
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