I’m shocked that in his Keynes compendium, Brad DeLong left out the great economist’s sole regret: that he should have drunk more champagne. Wise words for dark times and advice to keep the season bright. Cheers.
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7 comments
December 10, 2008 at 9:47 am
Ryan F
This is a bit off-topic (not much to do with champagne, but at least about a contemporary Keynes opponent), but I’m starting to get really annoyed by the free ride Peter Schiff is getting in the press. Planet Money practically endorsed Austrian economics last week. Because Larry Kudlow and Ben Stein laughed at the guy, we’re now supposed to buy his crackpot theories wholesale?
December 10, 2008 at 9:48 am
chris y
A happier old age than Osbert Lancaster, architectural critic and cartoonist, who was asked in his last years if he had any regrets, and replied, “Yes, I haven’t had enough sex.”
December 10, 2008 at 4:15 pm
Brad
I have found Planet Money’s need to be fair and balanced by chatting with Austrians (both in and out of the closet Austrians) a bit frustrating as well.
So, I have taken to listening while drinking champagne.
December 10, 2008 at 6:05 pm
ac
Keynes wrote some much, much more interesting things than those. The man was fluent in polari.
December 11, 2008 at 1:14 pm
Colin
I could never get the hang of Polari. Too many irregular verbs.
December 11, 2008 at 6:53 pm
ac
It turns my oyster up, it does.
December 11, 2008 at 9:37 pm
Michael Turner
Peter Schiff once said of soaring commodity prices that they “simply constitute the repricing of goods to reflect the diminished value of our money.”
I see. If “Core inflation” subtracts energy and food prices then I guess what Schiff is proposing is the inverse: “Donut inflation.” Or something. Anyway, I don’t think oil going to $140+/bbl was because of inflation, any more than its current flirtation with $40/bbl reflects dollar deflation. I don’t think these things because . . . I am not insane. Peter Schiff apparently is. I can’t wait for a notable Austrian School economist to call bullshit on this guy, because he’s Austrians on Acid School. U.S. News & World Report’s Kirk Shinkle restricted himself to calling Schiff’s crazy talk “characteristically apocalyptic.” How about “attention-grabbing lunacy that might cause the readers’ eyes to dwell on the page long enough to notice the ads”?
Pass the bubbly. Yes, I mean the whole goddamn bottle, goddammit.