Haha. Im litterally laughin my a** off.
“It is better to be roughly right than precisely wrong.” - Keynes, on making sweeping statements about business cycles.
“it is better to be precisely right than precisely wrong.” - Jackson, on Keynes making excuses for his seeping statements about business cycles.
Link please!
Keynes and causation-denial: I’m not seeing the correlation.
Keynes denied the existence of causal laws in one of his early publishings.
The site is Saturday Morning Breakfast Cereal webcomic.
Keynes was also a free trader turned protectionist turned free trader, so it’s unlikely he would have still held his view from early in his life.
I agree. I don’t like Keynes but not every intellectual mistake can be applied to his work. The causality denial accusation is more fitting to the soviet-apologizers that are still rampant in academia.
He didn’t deny causality per se, he denied causal laws. He said something along the lines of that we can predict a causal relationship will exist in the future where we have observed one in the past, but not with absolute certainty. That attitude explains some of the inconsistencies in his economic writings. But even if he didn’t say it, such a belief would have to underly those inconsistencies in the first place, unless he was just making crap up that he himself didn’t even believe.
That’s just the problem of induction.
Solved by one of those Germans he probably couldn’t read, i.e. Immanual Kant.