Hmmm.... depends on whether you think the period 1945 - 1965 was a success economically or not... if yes, that was a practical result of Keynes-inspired policy making
Emeritus Prof Christopher May's Post
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h4890
In response to this post@ChrisMayLA6 This brings us to the problems of:
1. Why that span?
2. What is success?
3. How would it have gone with Mises at the helm instead?
4. Could there have been other factors or trends in the world helping out?
5. What happened after 1965? Maybe the negative effects of Keynes theories took time to manifest?
All these questions, difficult to answer, is one of the great frustrations with economics. =(
@h4890
Ha ha, yes your last statement, hits the nail on the head.... of course as Keynes said: in the long run we're all dead.... and yes, what is (economic) success - a PhD on its own as a Q.
by Emeritus Prof Christopher May ;
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