Niall Ferguson on the Keynesian Problamatic and the Tory Victory, featuring Paul Krugman: a comment by Democratic Socialist

In the world of Mr. Ferguson, Keynes is always ‘The Problem’. Mr. Ferguson has a Keynes fixation:a personal prejudice/antipathy, and as a leading apologist for the current economic theology! Mr. Ferguson’s always hectoring tone is welcome to the apologists for that collection of floundering revelations. Not to speak of his penchant for stirring up controversy,and engaging his perceived antagonists in debate.  But the widening fissure in Neo-Liberalism’s phalanx is demonstrated by the victory of SNP in Scotland. It may not appear momentous, but the Tories and New Labor are bound to continue in the Austerity groove until Britain is ensconced at the very bottom of the economic ditch! Not to speak of the auction of Britain’s civic assets, to corporations with no interest in it’s fellow citizens, but ruled by the profit motive alone.

Another Ferguson fixation is with Keynesian Paul Krugman: the real target of this episode of Ferguson’s antipathy! (One can be sure that Mr. Krugman will have a spirited reply to Mr. Ferguson’s polemic, in a future column.) All this backed up by two paragraphs of  winning statistical data that puts the intellectual charlatanry of Krugman in proper perspective? All the evidence that Mr. Ferguson presents to the reader, which is quite persuasive, even shorn of the palpable Ferguson animus.  Yet the SNP, whose platform is Anti-Austerity won  a vast majority of Scotland’s votes. How can the Austerity Triumphalism of Mr. Ferguson be made compatible with this overwhelming vote for SNP, given the evidence presented by Mr. Ferguson? That and other questions await answers that Mr. Ferguson can as yet provide.

Democratic Socialist

About stephenkmacksd

Rootless cosmopolitan,down at heels intellectual;would be writer. 'Polemic is a discourse of conflict, whose effect depends on a delicate balance between the requirements of truth and the enticements of anger, the duty to argue and the zest to inflame. Its rhetoric allows, even enforces, a certain figurative licence. Like epitaphs in Johnson’s adage, it is not under oath.'
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