Word: feldsteins
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Dates: during 1980-1989
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...Feldstein, the former head of President Reagan's Council of Economic Advisors, also said that using Keynes' theories to steer national economic policy was the reason for most of today's economic woes...
Yale Professor James Tobin '39, who won the Nobel Prize in Economics in 1981, led the counterattack, calling Feldstein's description of Keynes a "caricature and a travesty...
Although Godkin Lecturer Paul A. Samuelson was moderating the symposium, entitled "Harvard and Keynesian Economics, 1936-86," he also berated Feldstein for his comment, nothing that it is only by utilizing the tools which Keynes himself invented that economists can now see his shortcomings...
...brief rebuttal period, Feldstein said that he did not mean to downplay Keynes' importance in economic history but only to suggest that the over-implementation of his theories into public policy led to large deficits and a decline in capital formation...
...related confrontation ensued when Feldstein asserted that Keynes "made a virtue of deficit spending" and didn't believe in a future debt...