Chicago: Aug. 12, 2011 This just in - John Maynard Keynes remains dead, fulfilling his own prophecy. "In the long run, we are all dead," Keynes predicted in 1923. His complete forecast was: "The long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is past the ocean is flat again."
Chicago economists, however, have decided to undertake that very easy, useless task and reveal the plan: "leave the economy alone and it will come home. It's in the book."
Many observers hasten to add: "pay no attention to the apparent accuracy of predictions and mathematical models concocted by Keynes' disciples. Facts can only confuse things. What matters is dogma!"
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