Thread: General Politics Keynesian Job Program / Stimulus Plan
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Old 02-06-2012, 09:57 AM   #43
BucEyedPea BucEyedPea is offline
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Regarding the original quote:

Quote:
Originally Posted by BucEyedPea View Post
pubs.aeaweb.org/doi/pdfplus/10.1257/jep.23.2.213

According to this .pdf Lenin didn't exactly say it either; that Keynes gleaned it from an interview of Lenin.

So, banyon, you need to visit the grave of Keynes and pin a correction on him. That is after you write to Brainy Quote.
From this .pdf

Quote:
Fetter doubted, however, that Keynes was really quoting Lenin. After extensive inquiries, Fetter reported that no such statement could be found in Lenin’s published writings and that the “first attribution in English, and probably in any language,” was by Keynes. Fetter suggested that Keynes had heard the story at the Paris peace conference of 1919, convened by the World War I Allies to address the main issues arising from their victory. Having arrived in Paris in January as the principal Treasury representative in the British delegation, Keynes had resigned by early June in despair over the hard measures the Allies were prepared to impose on Germany.

Fetter and other writers were unable to trace the quotation because they sought the source in Lenin’s collected published writings. It is now possible to show that Keynes based his remark on a report of an interview with Lenin published by London and New York newspapers in April 1919. Keynes’ discussion of inflation in the Economic Consequences can then be read as an extended commentary on the remarks attributed to Lenin in the interview.

Quote:
Keynes’ phrase “Lenin is said to have declared” may have been an acknowledgement that the author of the article and the source for the interview were anonymous. However, the congruence of the language and the arguments indicate that the article was Keynes’s source for the digression in Chapter 6 of The Economic Consequences of the Peace. The article quoted Lenin as using the word “debauch” with regard to government financial policies and, like Keynes, Lenin noted the destabilizing effects high inflation had on confidence, as profiteers gained at the expense of the rest of the population. Indeed, much of Keynes’s digression reads as a commentary on Lenin’s statements. [If this was Keyne's commentary or own digression based on what Lenin was claimed to have said, then that makes these the words of Keyne's. This has been done in a clever but deceiving manner.]
Quote:
Lenin (1920 [1966], pp. 220, 227) approved of Keynes’s proposals for settling intergovernmental debt, sardonically suggesting that they were equivalent to the Soviet government’s:
“As you know . . . these [Russian] debts do not disturb us, because we followed Keynes’s excellent advice just a little before his book appeared—we annulled all our debts (Stormy applause.)”
[Lenin also said regarding Keynes:]
He has arrived at conclusions which are more weighty, more striking and more instructive than any a Communist revolutionary could draw, because they are the conclusions of a well– known bourgeois and implacable enemy of Bolshevism, which he, like the British philistine he is, imagines as something monstrous, ferocious, and bestial.”

Quote:
The context of Keynes’s statement in The Economic Consequences of the Peace was he immediate danger of postwar hyperinflations in Europe.
the immediate danger of postwar hyperinflations in Europe.
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Last edited by BucEyedPea; 02-06-2012 at 10:36 AM..
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