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FeaturesMay 2009 The cultural contradictions of J. M. Keynes On the insights & limitations of the influential economist. Among the unhappy consequences of the current financial meltdown is the apparent triumph of a set of moral imperatives that seem every bit as perverse as those recorded in Alice in Wonderland. Financial institutions that took extreme risks and collapsed have to be bailed out by taxpayers on the grounds that “they are too big to fail.” Improvident borrowers, who purchased homes they could not afford and then defaulted when they could not make the monthly mortgage payments, must be subsidized by taxpayers in order to halt the slide in all house prices. Bankers whose firms lost billions must be paid extravagant bonuses—in some cases courtesy of the taxpayers—lest they be lured away by competitors (who are similarly insolvent). In order to save the system, we must first save those most responsible for placing it at risk. In addition to tryin ... This article is available to subscribers and for individual purchaseSubscribe to TNC (Print and Online editions) Subscribe to TNC (Online only) This article originally appeared in The New Criterion, Volume 27 May 2009, on page 4 Copyright © 2009 The New Criterion | www.newcriterion.com http://www.newcriterion.com/articles.cfm/The-cultural-contradictions-of-J--M--Keynes-4074
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A reply to Sam Tanenhaus's new book, The Death of Conservatism. On Real Education: Four Simple Truths for Bringing America's Schools Back to Reality by Charles Murray and Education's End: Why Our Colleges and Universities Have Given Up on the Meaning of Human Life by Anthony Kronman. On Upstream: The Ascendance of American Conservatism by Alfred S. Regnery. Russia before the mirror: reflections on 1989 On the realities of cultural transformation in Russia.  The New Criterion is now optimized for Mobile Devices 
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