It is not unreasonable, given the nature of Keynesianism, for Niall Ferguson to point out that Keynes was gay and had no children.  Any more than it would be unreasonable to point out that Le Corbusier was gay, and blithely built tall apartment blocks which were dreadfully ill-suited for families with children.  It is the job of historians to draw character portraits and to speculate about possible inner motivations, prejudices and blind-spots.

If Keynes had any concern for future generations, it is clearly not reflected in his famous dismissal of the long term consequences of his policies ('in the end we're all dead') or in the debt junky habits of those who act in his name.  Politicians are encouraged by Keynesians to ‘borrow’ vast amounts of money, which will take many decades to repay. This should not be called borrowing.  It is not the people who 'borrow' (politicians) who must repay the money (how easy it is to spend other people's money!). It is not the people on whom the money is spent (the parasitic public sector) who will repay the money.  Nor is it the people who vote for such politicians (in the public sector and among our anti-capitalist intelligentsia) who will have to repay the money.  No, these extraordinary debts must be repaid by our children and their children - who have had no say whatsoever in the matter.  Let us spell it out.  This is NOT borrowing!  This is theft!  

Keynes' famous dictum reveals not only a disregard for what economists coldly call 'the long run', it also reflects something darker.  Keynesianism is an act of violence against our children and their children.

There is nothing in the least wrong with being gay – far from it.  (As one who is constantly looking for good TV presenters I wish there were many more). But it is utterly sinful to be Keynesian.

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