John Maynard Keynes
Join author Zach Carter for a Q&A about his critically acclaimed John Maynard Keynes biography and the lessons we can learn from the British economist.
The myth of free trade is coming apart.
Happy 200th birthday, Karl.
Prior to cofounding Origin Investments, I was a trader at the Chicago Mercantile Exchange. My greatest strength was being able to set aside my emotions. I never carried large positions overnight, and I never had an opinion about where the market was going, until one day I did.
John Maynard Keynes once famously said that the difficulty lies not so much in developing new ideas but in escaping from old ones. And one of the oldest and most pervasive and pernicious economic ideas is that technology kills jobs.
This happened because it's time for it to happen; this happened because a large group of House Democrats don't think the Iran nuclear deal is the end of what we can accomplish with diplomacy in the Middle East.
Trump, Sanders and the other outsiders will probably not win their party's presidential nominations. But the rage they are articulating is not going away. In all likelihood these Occupy issues will be co-opted by more establishment and semi-establishment figures like Rubio, Bush, Clinton, and Biden.
For those turned off by my considering anything other than the issues, I can't help you. And for those who were hoping I'd bash either of these Democrats, well, I can't help you either. As of now, one of these two will be the Democratic nominee (could Joe Biden shake up the race? I doubt it, but one never knows). I would be happy and proud to work for and vote for either Hillary or Bernie in the general election.
Robots have indeed eliminated a great deal of factory work and are rapidly moving on to product design, medical diagnostics, research, teaching, accounting, translating, copy editing, and a great deal more. Once-secure professions are no longer safe. From that, many economists conclude that we may just have to adjust to a high plateau of unemployment. That assumption is malarkey.
The federal government, in fact, did increase the minimum wage multiple times while he was working his way up the ladder, and secondly, none of those increases seems to have stopped him from getting the "rotten jobs" that kept him moving up the ladder to eventual success.