Word: keynesian
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Dates: during 1950-1959
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...Crane Brinton '19, McLean Professor of Ancient and Modern History, supported Kennedy along with Galbraith and three others. Brinton framed the major issue of the times as: "orthodox or 'classical' economics, and what I'll call Keynesian or Galbraithian economics: . . . whether we are to let our present methods of production and distribution produce the kind of consumers' goods that annoy the intellectuals, or whether we will tamper politically so as to produce education, housing, hospitals, public transportation, which people ought to want...
...elsewhere, which allows "subversives" to slip unnoticed into the Faculty, and which permits smug and "fuzzy-minded" liberalism to stand unchallenged within the academic community. Few deny the validity of their second criticism. Among most university faculties (and especially at Harvard) there is a certain devotion--often unquestioning--to Keynesian economics and the Democratic party, which, though hardly "subversive," shows an unhealthy onesidedness. Perhaps well-qualified and articulate spokesmen of the conservative position are hard to come by, but it is unfortunate that Harvard's faculty ranks do not include more voices to challenge those of Seymour Harris and Arthur...
...almost back to pre-recession levels in ten months, without any reduction in taxes. At the start of the 1949 recession, Government spending was sharply increased, yet employment showed no improvement for eight months. Without such help this time, the strong upturn came in eight months. According to Keynesian theories of countercyclical government pump-priming, 1949's recovery should have come considerably faster than it did, while 1958's should be much slower...
...from her own frustrations. When her vacuum cleaner, television set and iron all broke down in a single day, she wrote a scathing column blaming planned obsolescence-and got 500 supporting letters from readers. A product of the '30s, she readily admits that she leans toward pump-priming Keynesian economics and the Democratic Party. "I don't see how anyone could have lived through the Depression and feel differently...
...Keynesian economics, for many years a dirty word in the Republican Party's rhetoric, has been accepted by the Administration more as a playtoy than an effective method of economic management. Fiscal policy planning is an awesome thing, something to be handled gingerly lest it dull all sensibility and impose itself on the player's mind...