Steadfastness of Opinion: Between Right and Reproach

-       John Maynard Keynes, a British writer and a famous economic theorist...the founder of macroeconomic Keynesian economics... He was a key figure in the Bretton Woods agreement after World War II – the rules for monetary dealings between countries after the world war and the move away from the gold standard as the basis for transactions - (1944). He authored a book in 1919 entitled "The Economic Consequences of the Peace," after the end of World War I...and participated in the Treaty of Versailles, and he opposed the idea of the harsh reparations imposed on defeated Germany in that agreement..!

-       It was said that he had a changeable opinion. He served as an economic advisor to many presidents and the Queen, and his opinion was sought by global economic thinkers on economic crises; Keynes would always have two opinions for every one opinion of any other economic thinker....and Keynes was not embarrassed by that, because he used to say: "When my information changes... I change my mind."..!..He did not want to be the stopped clock that is only correct twice a day) !

-       The proponent of the idea of the welfare state....and he authored his famous book: "The General Theory of Employment, Interest and Money," setting out his defense and theory that full employment could not be achieved based on the market mechanism (the invisible hand) and economic freedom....., as previously put forward by the leading thinker and economist Adam Smith, in his book "The Wealth of Nations" in 1776.............. In this area, Keynes called for state intervention in economic life..! (and I am a supporter of this theory)....He sought macroeconomic balance, defended raising interest rates in times of inflation and lowering them in times of recession, and the famous economist Keynes added that traditional economic analysis had relied on supply as the basis for economic solutions, whereupon he introduced the concept of stimulating demand (to encourage demand for goods and services) to escape the reality of economic recession. He called for the government to absorb unemployment, increase public spending, and raise wages,,, and these instruments by themselves...constitute a primary factor in increasing demand for goods and services, which moves the economy..!...This theory and his analysis were the basis for establishing the Social Security System in the United States in 1935, in which Keynes advocated state intervention according to the correct choice and solution...!!....after a period of depression that lasted from 1929 until 1935...!

-       John Keynes..an economic thinker, proponent of the welfare state...despite remaining within the concept of the capitalist system... he nevertheless offered many solutions to the global economic thought... He proposed a project to reform the global monetary system, based on adopting a unified currency named "Bancor"..but the United States rejected his project...!

·       (And I comment), steadfastness of opinion..therefore..is not necessarily true...and correct. Permanently....If information changes, it is wrong to cling to an opinion..for opinion is not a principle...for opinion, as Keynes said, is built on information, (Information.) and it is constantly variable..."Keynes'" point of view I respect and side with....!

·       The day after tomorrow is a new year..we ask God that it be a year of goodness and peace..and change..! Happy New Year to you all...

·       30-12-2020....