Word: keynesian
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...generalities, the tone and thrust of the President's talk proved that despite his politically successful fling with the easy-money, deficit-spending ways of Keynesian economics, he has returned with some relief to that "oldtime religion," with its emphasis on gradualism, balanced budgets and monetary restraint. Yet the message is not likely to dispel the public's thickening gloom about the economy...
...practice, the commitment has meant that governments, using the tools of Keynesian economics, react to anything but the briefest and shallowest downturn by increasing spending and pumping up the money supply in order to get the economy moving again. The strategy has in its way worked brilliantly: though governments have by no means always achieved full employment, the industrial world has consistently kept jobless rates to levels that would have been considered impossibly low before World War II. But the commitment also means that the industrial world has deliberately thrown away what used to be its chief weapon against inflation...
Weinberger said that massive spending on federal programs in the 1960s was due in part to unjustified faith in Keynesian economics. Keynes's theory holds that increased government expenditure will have an immediate beneficial impact on national income...
...Keynesian," Weinberger said. "The Keynesian theory can not be matched by its necessary corollary; you cannot restrain it when inflation seems near...
...content of the shows has not yet been fully defined, Galbraith said, but themes covered will include the development of capitalist and socialist societies in this century, imperialism and colonialism, Keynesian economics, and what Galbraith called the "uncertainty of the twentieth century...