And that’s embracing the lesson of Keynes. As Keynes knew we do not live in the probabilistic world that neoliberals thinks exists where all outcomes are known and can be predicted: we live in a world of unknowns. And many of those unknowns are unknown (Rumsfeld’s one true insight). In which case if we are to have a policy for sustainable, fair growth, for employment and for fair distribution of reward the government has no choice but intervene, with courage, in the economy. And that, of course, was what I called for in The Courageous State.
The government\’s no fucking clue about what\’s going to happen therefore we should give all of our money to the government for them to decide what to do about the future.
It\’s not the most convincing piece of economic logic now, is it?