Milton Keynes Quotes

Note for Americans and other aliens: Milton Keynes is a new city approximately halfway between London and Birmingham. It was built to be modern, efficient, healthy, and, all in all, a pleasant place to live. Many Britons find this amusing.

Neither claimed any responsibility for Milton Keynes, but both reported it as a success.

It meant that Crowley had been allowed to develop Manchester, while Aziraphale had a free hand in the whole of Shropshire. Crowley took Glasgow, Aziraphale had Edinburgh (neither claimed any responsibility for Milton Keynes,* but both reported it as a success).

The appeal to the intellectually insecure is also more important than it might seem. Because economics touches so much of life, everyone wants to have an opinion. Yet the kind of economics covered in the textbooks is a technical subject that many people find hard to follow. How reassuring, then, to be told that it is all irrelevant -- that all you really need to know are a few simple ideas! Quite a few supply-siders have created for themselves a wonderful alternative intellectual history in which John Maynard Keynes was a fraud, Paul Samuelson and even Milton Friedman are fools, and the true line of deep economic thought runs from Adam Smith through obscure turn-of-the-century Austrians straight to them.

Keynes was a great economist. In every discipline, progress comes from people who make hypotheses, most of which turn out to be wrong, but all of which ultimately point to the right answer. Now Keynes, in The General Theory of Employment, Interest and Money,set forth a hypothesis which was a beautiful one, and it really altered the shape of economics. But it turned out that it was a wrong hypothesis. That doesn't mean that he wasn't a great man!

Did he do anything bad to you?" “Apart from knock me senseless, clap me in chains, and bring me to Milton Keynes? No.

What's better- supply side economics a la John Keynes, or libertarian free markets a la Milton Friedman? Safety nets or bootstraps to build a just society? Big sticks or carrots to preserve international order? Federal or states' rights to guide the governed? Investing in education or employment to empower a citizenry? Seperation or integration of church and state? Multicultural melting pot or national identity? Revolution or evolution? The only honest answer is "it depends." and we're not entirely sure.

Palmolive wrote the lyrics to ‘Newtown’ too. The song was originally called ‘Drugtown’, but I changed it to ‘Newtown’, thinking about all the new towns that are springing up around the edges of London, like Milton Keynes and Crawley. The young people growing up there are so bored, they take loads of drugs and drive around really fast or beat each other up at football matches, then they get up and commute to their dull jobs on Monday morning. Palmolive made up these great words like ‘televisina’ and ‘footballina’ as drug names, I think only a foreigner could do that.

Alas, I soon grew disillusioned, concluding that economics was largely a form of intellectual prostitution where you got rewarded for saying what the powers that be wanted to hear. Whatever a politician wanted to do, he or she could find an economist as advisor who had argued for doing precisely that. Franklin D. Roosevelt wanted to increase government spending, so he listened to John Maynard Keynes, whereas Ronald Reagan wanted to decrease government spending, so he listened to Milton Friedman.

When the time came to apply for college, I decided against physics and other technical fields, and ended up at the Stockholm School of Economics, focusing on environmental issues. I wanted to do my small part to make our planet a better place, and felt that the main problem wasn't that we lacked technical solutions, but that we didn't properly use the technology we had. I figured that the best way to affect people's behavior was through their wallets, and was intrigued by the idea of creating economic incentives that aligned individual egoism with the common good. Alas, I soon grew disillusioned, concluding that economics was largely a form of intellectual prostitution where you got rewarded for saying what the powers that be wanted to hear. Whatever a politician wanted to do, he or she could find an economist as advisor who had argued for doing precisely that. Franklin D. Roosevelt wanted to increase government spending, so he listened to John Maynard Keynes, whereas Ronald Reagan wanted to decrease government spending, so he listened to Milton Friedman.

Like the monetarist Milton Friedman, Keynes looked to price stability as a way to shore up classical economic thinking. For the most part, he believed, laissez-faire economics worked. Supply and demand did bring society to a prosperous equilibrium. They just needed a few pieces of basic economic architecture to work: property rights, the rule of law, and price stability. But unlike Friedman, Keynes had arrived at monetarism as a creative way to expand the power of the state to fight the uncertainties and anxieties of postwar life.

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When we aren’t aiming to be either precise or conclusive, it can be easy to agree on what a beautiful man-made place might look like. Attempts to name the world’s most attractive cities tend to settle on some familiar locations: Edinburgh, Paris, Rome, San Francisco. A case will occasionally be made for Siena or Sydney. Someone may bring up St Petersburg or Salamanca. Further evidence of our congruent tastes can be found in the patterns of our holiday migrations. Few people opt to spend the summer in Milton Keynes or Frankfurt. Nevertheless, our intuitions about attractive architecture have always proved of negligible use in generating satisfactory laws of beauty. We might expect that it would, by now, have grown as easy to reproduce a city with the appeal of Bath as it is to manufacture consistent quantities of blueberry jam. If humans were at some point adept at creating a masterwork of urban design, it should have come within the grasp of all succeeding generations to contrive an equally successful environment at will. There ought to be no need to pay homage to a city as to a rare creature; its virtues should be readily fitted to the development of any new piece of meadow or scrubland. There should be no need to focus our energies on preservation and restoration, disciplines which thrive on our fears of our own ineptitude. We should not have to feel alarmed by the waters that lap threateningly against Venice’s shoreline. We should have the confidence to surrender the aristocratic palaces to the sea, knowing that we could at any point create new edifices that would rival the old stones in beauty.

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On a train from Euston,’ Declan replied, looking up at the map of the route on the wall. ‘Stops at Watford Junction and Bedford before I’m apparently getting off at Milton Keynes,

The economist John Maynard Keynes once said, “Practical men who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist.” He should have included defunct law professors. The state we find ourselves in today can be traced back to the economists of the Chicago School. We would not have highly concentrated industries if it were not for Robert Bork and the Chicago School. Like all revolutions, an organized group of ideologues developed the ideas and spread them zealously. The Chicago School, led by Milton Friedman and George Stigler, was the vanguard of attack against antitrust laws. The great irony is that they decried monopolies and concentration of power, but in practice they created all the conditions necessary for them.

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It was obvious to all who knew him that Friedman loved being the smartest guy in the room. It was also clear he loved to smash idols. Pigou, Keynes, Samuelson—his whole life, names others worshipped were his targets. But underneath all this, imperceptibly running through the years, was a contrapuntal desire for a wise man, a counselor, a superior, someone to admire and esteem. Burns, arriving in the fatherless Friedman’s life just as he considered his professional future, had played this role for decades. “Arthur, there remains no one whom I so admire + feel so close to—Rose only excepted—and so hate to hurt,” Friedman told him in his closing lines.34 As a fellow Jewish man with immigrant roots who had risen fast and far, Burns was in some ways a natural father figure, but in other ways he never quite fit the role. Friedman’s closest relationships were always with those who shared his fundamental orientation to economics and politics. True, he retained cordial relationships with his opponents. But friendship, as it developed in his life, was rarely about the simple joy of companionship. From his student days in Chicago to his marriage with Rose, Friedman had always blended ideological, professional, and personal ties. Burns’s speech, with its reference to cost-push inflation, revealed a truth that was perhaps the most painful of all: Burns did not accept Friedman’s theory of inflation.

Keynes’s ideas provided a theoretical rationale for continued New Deal spending.

This convergence between policy-makers and professors was significant. Keynes’s ideas provided a theoretical rationale for continued New Deal spending. In turn, Keynesianism suggested a route to power for economists. Going far beyond the sort of technical work that Friedman had done, Keynes’s ideas positioned economists as strategic policy experts, even arbiters of the government’s role in society.

In retrospect, The General Theory would set the intellectual agenda for Friedman’s entire career, but when it appeared, he barely noticed. As Keynes’s ideas were making landfall in American universities, Friedman offered a course through the Columbia University extension school that was a throwback to the early 1930s. Focused on individual demand curves, individual marginal utility, and individual economic decision-making, Friedman’s course, Structure of Neo-classical Economics, made no mention of business cycles, national income, or current economic conditions. Drawing on the approach pioneered by Knight and Simons, it placed the question of “how free enterprise system solves economic problem” front and center.45 At the same time, Friedman did offer an implicit critique of the fiscal revolution, particularly Hansen’s concept of secular stagnation. Picking up a theme from Knight, Friedman told his class, “Once wants are satisfied, new wants are going to be formed; the process of want formation is part of the basic drive.”46 There were two critical implications. First was that perpetual wanting would keep economies always in motion: “Impossibility of completely satisfying all wants. If the greatest want is the desire for new wants … the notion of satiety is silly.” It was more than a philosophical point. Not only was it impossible for the economy to stagnate, but it would be impossible to design a government program that would adequately satisfy wants, which tended to continually increase. Friedman drew out the second implication in another comment. “Attitude toward all policies will be affected by our ideas concerning wants,” he argued.47 In a letter to Arthur Burns, he was more direct. Reflecting on a road trip to visit Rose’s family, he wrote, “The whole West, particularly California, and more particularly Southern California, gives you the feeling that the frontier is not yet gone and makes you feel like telling the stagnationites to come out and take a look.”48 Although he worked for the New Deal, Friedman was not a New Dealer. Nor was he a Keynesian. He thoroughly rejected the ideas that would most profoundly shape economics in the years ahead.

It was a strike against the edifice of policy and politics coming to rest upon Keynesian concepts of savings and consumption. Years later, Friedman spelled out the ultimate implications. Dorothy and Rose’s paper fed into a much larger body of research, the permanent income hypothesis, that “removes completely one of the pillars of the ‘secular stagnation’ thesis.” It also had implications for the Keynesian proposition that there was “no automatic force in a monetary economy to assure the existence of a full-employment equilibrium.”9 On the surface, Dorothy and Rose had published a basic research report. Considered in the bigger picture, their conclusions spoke to the politically charged question of consumption. Was the paper deliberately framed as an attack upon Keynes?10 Both women were dedicated empiricists, and the problem in the data was compelling. At the same time, the solution they came up with dovetailed nicely with each woman’s intellectual inclinations. The paper’s emphasis on relative income reflected the traditional approach of consumption research that Dorothy knew well. Dorothy’s long tenure in reformist D.C. agencies suggests that like most consumption economists, she was probably sympathetic to New Deal social spending. By contrast, although Rose has left little trace of her thinking in this period, she was among the most loyal of Frank Knight’s students. His teachings would have primed her to be skeptical of both the New Deal and the Keynesian concepts that were newly popular among economists.