If there is such a thing as a lion’s den for upstanding conservative German economists, known as ordo-liberals, then it’s probably Keynes Hall at Kings College of the University of Cambridge in Britain.
It was at Keynes Hall, of all places, towered over by a life-size bust of the British economist and politician John Maynard Keynes, that prominent German economists assembled last week.
The Germans included Lars Feld, a member of the German Council of Economic Experts, a key group of government advisors; Clemens Fuest, president of the Munich-based economic research institute Ifo; and Otmar Issing, the former chief economist of the European Central Bank.
They assembled to meet their predominantly Keynesian-minded colleagues from Europe and the United States. In a rare moment of harmony, the guests had all been invited by the Institute for New Economic Thinking, which was founded by financial speculator George Soros, and the Freiburg-based Walter Eucken Institute, headed up by Mr. Feld.