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Topic: Keynes & Hayek (was "Re: History of regulation of finance")
Replies: 1   Last Post: Nov 14, 2011 10:06 PM

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Richard Hake

Posts: 1,205
From: Woodland Hills, CA 91367
Registered: 12/4/04
Keynes & Hayek (was "Re: History of regulation of finance")
Posted: Nov 14, 2011 2:59 PM
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att1.html (5.2 K)

Some subscribers to MathEdCC might be interested "Keynes & Hayek
(was 'Re: History of regulation of finance') " [Hake (2011)]. The
abstract reads:

*************************************************
ABSTRACT: In my Dewey-L post "Re: History of regulation of finance"
[Hake (2011c)], I responded to Celinda Scott's (2011a) comments
regarding Nicholas Wapshott's (2011) <http://bit.ly/uZdktM> book
"Keynes Hayek: The Clash That Defined Modern Economics," and
attempted to inject some humor into Dewey-L by pointing to the rap
parody video "The Fight of the Century" at <http://bit.ly/uWBBP2>.

In response, philosopher H.G. Callaway (2011d) criticized my post for
diverting the discussion away from the Dodd-Frank act
<http://en.wikipedia.org/wiki/Dodd_Frank_Act> which he thinks should
be the centerpiece of serious discussion on the Callaway-initiated
thread "Re: History of regulation of finance."

Callaway's complaint could probably have been avoided if I had had
the good sense to simply title my post "Keynes & Hayek (was 'Re:
History of regulation of finance')." Then more Dewey-L discussion
might have turned towards consideration of the clash of Keynes and
Hayek that, according to Wapshott, "defined modern economics."

Of course, modern economics has had a crucial impact on social
conditions and education - see e.g., Hake (2011a,b) - matters of
concern to Dewey and therefore properly within the province of
Dewey-L, perhaps even more so than the Dodd-Frank act.

On a related matter, I completely disagree with Callaway's (2011d)
assertion that "Re: Castles in the Sky #2" [Hake (2009)] at
<http://bit.ly/rBPxls> was "loaded with doubtful comments and links"
and "made little or no sense." That post concerned the sky-castle
building of traditional economists such as Alan Greenspan and
Lawrence Summers, who seem to regard the economic system as divorced
from the ecosystem, a standpoint roundly criticized by ecological
economists such as Herman Daly
<http://en.wikipedia.org/wiki/Herman_Daly>.
*************************************************

To access the complete 15 kB post please click on <http://bit.ly/vkKmaw>.

Richard Hake, Emeritus Professor of Physics, Indiana University
Honorary Member, Curmudgeon Lodge of Deventer, The Netherlands
President, PEdants for Definitive Academic References which Recognize the
Invention of the Internet (PEDARRII)
<rrhake@earthlink.net>
<http://www.physics.indiana.edu/~hake>
<http://www.physics.indiana.edu/~sdi>
<http://HakesEdStuff.blogspot.com>
<http://iub.academia.edu/RichardHake>

"Conflict is the gadfly of thought. It stirs us to observation and
memory. It instigates to invention. It shocks us out of sheep-like
passivity, and sets us at noting and contriving. Not that it always
effects this result; but that conflict is a sine qua non of
reflection and ingenuity."
John Dewey "Morals Are Human," Dewey: Middle Works, Vol.14, p. 207


REFERENCES [All URL's shortened by <http://bit.ly/> and accessed on
09 Nov 2011.]

Hake, R.R. 2011. "Keynes & Hayek (was 'Re: History of regulation of
finance') ", online on the OPEN! Dewey-L archives at
<http://bit.ly/vkKmaw>. Post of 9 Nov 2011 10:23:43 -0800 to Dewey-L.
The abstract and link to the complete post are being transmitted to
several discussion lists and are also on my blog "Hake'sEdStuff" at
<http://bit.ly/uSEuEz> with a provision for comments.






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