NormanMacrae.net -Economist pro-youth economist -bravo sir fazle abed & jack ma
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The last 3 pages of Keynes General Theory interest me. There Keynes explicitly warns that the greatest danger to the future of youth are elderly macroeconomists. He makes it clear that :
increasingly the world is rule only by economists.., ie economists design futures
he asks what if most economists ever started hiring themselves out to those who would extract from the past rather than sustain the future
My dad was one of the last to be mentored directly by Keynes. Dad saw no value whatsoever in economists who were unable to design futures that invested in the next generation. Ironically today we enjoy a millions times more collaboration technology than when man race to the moon but many nations are not investing in how youth could be productive with that because elders have invested in things (and systems) that went bust instead of openly multiplying trust the way win-win models in knowledge economies needed to do. Its worth remembering that knowledge has an abundancy that multiplies value in use unlike things that get consumed up. That's why when dad first saw students testing early digiital networks in 1972 he spent the rest of his time debating the genre Entrepreneurial Revolution - how to design systems so that 2010s became worldwide youth's most productive and sustainable time. He was well aware that if we did not transform beyond zero-sum 20th century economics of big gets bigger we would end up on Orwell's big brother trajectory.
In real mathematics , you design systems by making core principles transparent. One of dad's most basic principles was a place cannot grow unless capital structure families' intergenerational savings towards next generation's productivity out of that place. Look at 99% of so-called economists on your nightly news who devalue that principle in every piece of advice they give. Would Keynes sack all of them?
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