Word: keyneses
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Nor do we honor economists here, preferring to include them in a subsequent issue devoted to scientists and thinkers. But surely our nation and the world would be less strong today, and many of our most famous business leaders would seem less prescient, absent the guidance of the Federal Reserve...
THE GENERAL THEORY OF EMPLOYMENT, INTEREST AND MONEY (1936) This study was John Maynard Keynes' major work. Not intended for the public, it had vast public consequences. By positing that government spending could revive sagging economies, Keynes rewrote the rules of free-market capitalism.
By the mid-1980s, privatization was a new term in world government, and by the end of the decade more than 50 countries, on almost every continent, had set in motion privatization programs, floating loss-making public companies on the stock markets and in most cases transforming them into successful...
My generation lived in the afterglow of the New Deal. We misread Keynes and thought that borrowing, because it worked in the thirties and forties, could continue forever. Debt is economic cocaine; it is very hard to stop borrowing once you started. Please understand, I would have been voted out...
I believe it was John Maynard Keynes who said, "If a currency is going to sound like an automobile, it should at least sound like a large automobile." It is easy to imagine an Englishman saying, "I've been thinking of buying a little runabout--perhaps one of those new...