By John Wasik
PBS - January 16, 2014
The decline of upward mobility and increased inequality
in America has been a frequent refrain on this page. But what if the
middle class could boost their mobility in the 21st century with a
little investment advice from an investor who didn't even survive to the
second half of the 20th century? Like the eponymous adjective that
describes much of his contribution to economics, John Maynard Keynes is
often thought of as an economic theorist who invested on the side. Here
to bring out of the shadows Keynes as an avid investor and die-hard
capitalist is John Wasik, author of the new book "Keynes's Way to Wealth: Timeless Investment Lessons from the Great Economist," recently reviewed in The New York Times. Wasik is a columnist for Reuters and has written 14 other books.
John Wasik: As America contemplates with mixed
feelings the 50th anniversary of the War on Poverty and the proposed
extension of jobless insurance, there's been much hand-wringing on what
could buoy the middle class and create more economic mobility.
Are Keynesian remedies to boost the economy still viable or will
market forces eventually be the tide that lifts all boats? While
Keynes's legacy is steeped in this passionate debate, I wanted to
examine another, much lesser-known side of the Keynesian legacy:
Keynesian investing.
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