Posted To Steve Keen’s Substack Newsletter 11/21/2022

Keynes was the original anti-austerity reformer upon whose shoulders all of the present anti-austerity reformers like Dr. Keen, Michael Hudson, Warren Mosler/MMTers, UBI and Ellen Brown’s Public Banking stand. All of their further research is valid and salutary. The only thing I would say to all of them is that when you stand on someone’s shoulders…don’t forget to analytically look up because as we see with Keynesianism, reforms are virtually always temporary and can be twisted and morphed into their idological opposite. Looking up however we can analyze on the paradigmatic (operant concept) level, and hopefully discover the most efficacious policy applications of that new concept. History reveals that paradigm changes are permanent progressive phenomena. Economics and the money system could really use some permanent progress.


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