Word: feldstein
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Harvard Professor Martin Feldstein, who served for two years as President Reagan's chief economic adviser, argued that it is point less to expect Japan and Germany to help cure U.S. trade woes. Even sharply increased growth in those two economies would probably lop no more than $15 billion off the American deficit. Said Feldstein: "In terms of the trade deficit, there's nothing...
...scholars on today's faculty are no less impressive, e.g., Harvey Cox at the Divinity School, Robert Coles in psychiatry, Martin Feldstein in economics. "The critical mass of talent there is stunning," says Chancellor Joseph Duffey of the University of Massachusetts at Amherst. Faculty ideologies range from the Marxism of Historian John Womack to Galbraith's liberalist economics to the conservative political science of James Q. Wilson to the libertarian ruminations of Philosopher Robert Nozick. "This," says John Shattuck, vice president for government affairs, "is a very dynamic and chaotic institution...
...related confrontation ensued when Feldstein asserted that Keynes "made a virtue of deficit spending" and didn't believe in a future debt...
Economics Professor Benjamin M. Friedman '66 responded to Feldstein's claim, saying "there is nothing to make one suspect that Keynes supported deficit spending in all cases...
...Feldstein said that when he learned who his fellow panelists were, he knew there "would not be unanimity" in the discussion and that he was "outnumbered." Jeffrey S. Nordhaus