Word: keynesian
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...scant. Before Salazar came to power, the land was in chronic economic chaos and political disarray: in 161 years it had had 45 governments, some lasting only days. As Premier after 1932, Salazar squashed partisan quarreling with dictatorial measures and brought order to the economy by applying conservative, pre-Keynesian fiscal policies. By the late 1930s, he was flirting openly with fascism. He backed Franco against the Spanish Republicans. While Portugal remained neutral in World War II, Salazar at first sympathized with the Axis; when it became clear that that was the losing side, he granted bases in the strategically...
...study for a year at Cambridge under Keynes. Galbraith did not meet Keynes, who by then had suffered the first of several heart attacks, during that year, though he saw him often in Washington during World War II. But he did learn book and verse of the Keynesian gospel...
Usually at this time of year Harvard seniors are eagerly awaiting graduation, busy working on their dissertations, and looking forward to graduate school. But things have changed. While in the past an eavestdropper might have overheard discussions about Shakespeare or Keynesian economics, this year almost every conversation focuses on one topic: the latest vogue in avoiding the draft...
Some people have assumed that Ec 1 is a "liberal" course because it teaches Keynesian theory of national income. However, we would like to suggest that there is nothing "liberal" or "conservative" about Keynes as taught in Schulze or Eckstein. Most businessmen accept the idea that the government should use fiscal policy to keep growth up, although they would oppose its use as a social tool. Keynesian analysis as taught in Ec 1 is neutral ideologically. For example, one may increase government expenditures by digging and refilling ditches, by increasing defense spending, or by building schools and low-cost housing...
...traced largely to the board's four junior members-all economists, all appointed since 1961, all independent enough in word and deed to blur old liberal-conservative labels, flout traditions, flaunt new ideas. Dewey Daane, 48, a Harvard-trained former Treasury aide, likes to call himself a "neo-Keynesian swinger." His was the key vote in the board's 4-3 decision to raise the discount rate-the interest that the Fed charges member banks for borrowing-from 4% to its present 41% in December 1965. George Mitchell, 63, onetime director of finance for the State of Illinois...