I was reading this article on the Keynesian revolution. The article was pretty good, but then...
According to Murray Rothbard, an Austrian School economist strongly opposed to Keynes:
“ the General Theory was, at least in the short run, one of the most
dazzlingly successful books of all time. In a few short years, his "revolutionary" theory had conquered the economics profession and soon had transformed public policy, while old-fashioned economics was swept, unhonored and unsung, into the dustbin of history.
”
Rothbard goes on to describe that by the end of the 1930s every single one of Friedrich Hayek's followers at the LSE was convinced by Keynes's ideas – all economists who had previously opposed Keynes's advocacy of state intervention in the economy.[19]
Listed under "Intellectual response" this passage is misleading for several reasons. While Rothbard and the Austrians were intellectuals and did indeed respond to the "General Theory" it is neither necessary nor particularly relevant to the topic. Especially, when we consider their is no shortage of "neoclassical" critiques (including nobel laureates Fredrich Hayek, Milton Friedman and Robert Lucas).
Also saying that Murray Rothbard "strongly opposed" Keynes is like saying "Lenin 'strongly opposed' capitalism." Technically true, but does really capture the virility and hatred. Here are some select quotes from the conclusion of Rothbard's biography on Keynes, "Keynes the Man" (totally worth a skim).
“Brilliant” is scarcely an apt word either. Clearly, Keynes was
bright enough, but his most significant qualities were his arrogance,
his unlimited self-confidence, and his avid will to power,
to domination, to cutting a great swath through the arts, the social
sciences, and the world of politics.
Furthermore, Keynes was scarcely a “revolutionary” in any real
sense. He possessed the tactical wit to dress up ancient statist and
infl ationist fallacies with modern, pseudoscientifi c jargon, making
them appear to be the latest fi ndings of economic science. Keynes
was thereby able to ride the tidal wave of statism and socialism,
of managed and planning economies. Keynes eliminated economic
theory’s ancient role as spoilsport for infl ationist and statist
schemes, leading a new generation of economists on to academic
power and to political pelf and privilege
And
Yet Keynes was much more than a Keynesian. Above all, he
was the extraordinarily pernicious and malignant fi gure that we
have examined in this chapter: a charming but power-driven statist Machiavelli, who embodied some of the most malevolent trends and institutions of the 20th century.
Bonus Bad Economics, seriously wtf:
https://www.wikiwand.com/en/Hans-Hermann_Hoppe
ここには何もないようです