Tell me and I forget. Teach me and I remember. Involve me and I learn. Benjamin Franklin

Monday, January 20, 2014

What Keynes Can Teach Middle Class Investors

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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