Quotation of the Day…

by Don Boudreaux on February 25, 2012

in Economics, State of Macro

… is from an August 6, 1940, letter from Frank Knight to Jacob Viner; it is quoted on page 301 of Don Patinkin’s splendid 1981 collection Essays On and In the Chicago Tradition:

I regard Mr. Keynes’ neo-mercantilist position in economics in general, and with respect to money and monetary theory in particular, as essentially taking the side of the man-in-the-street, against the effort of the economic thinker and analyst to get beyond and to dispel the short-sighted views and prejudices of the former….  His work and influence seem to me supremely “anti-intellectual,” in the only meaning of intellectual life which is worthy of approval or support.

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