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Niall Ferguson Dismisses Keynesian Economics Because Keynes was Gay

A Harvard historian is in hot water over remarks he made about the sexual orientation of John Maynard Keynes and his theory of economics.

When asked about Keynes’ philosophy versus the economic ideas of Edmund Burke, in front of a group of more than 500 financial advisors and investors, Professor Niall Ferguson reportedly stated that Keynes’ philosophy was flawed and inaccurate because he was a homosexual married to a ballerina and had no children. He also claimed that Keynes worldview was “selfish” because he was an “effete” member of society.

Two days after he spoke, Fergueson issued an apology for what he termed his "insensitive" and "stupid" remarks. He also acknowledged his remarks were 'doubly stupid" since Keynes' wife suffered a miscarriage.

The comments have drawn criticism from all corners of the economic community.

"Saying that Keynes' economic philosophy was based on him being childless," wrote Business Insider’s Henry Blodget noted, "would be like saying that Ferguson's own economic philosophy is based on him being rich and famous and therefore not caring about the plight of poor unemployed people."

In Ferguson's apology posted to his website Saturday he wrote that the comments "were as stupid as they were insensitive."

Sources: HuffingtonPost, FinancialAdvisor


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