Word: keynesianism
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...unless Bernanke is an unusually good liar, he is a moderate Republican at heart, a market-based Keynesian who has a lot in common with Obama economists such as Larry Summers or Christina Romer, a pragmatist whose defining political experience before the past couple of years was getting screamed at by antitax activists while serving on a local school board. He's also a longtime inflation dove, and since the crisis began he's shown unprecedented willingness to jam the accelerator. It's true that he talks a fair amount about hitting the brakes someday, but he hasn't even...
...Keynes doesn't play in Peoria. Obama has followed a traditionally Keynesian economic path in responding to the recession - temporarily increasing government spending to make up for slack in the economy. But voters, who continue to suffer from the downturn, are not so impressed. In a recent focus group with independent voters who voted for Obama, Republican pollster Ed Goeas found significant concern about government spending. "There was a tipping point that occurred," he said. "The biggest thing I have seen beyond the intensity and the independents moving has been this focus, in the middle of a very bad economy...
Samuelson, who helped to popularize the introduction of Keynesian economics to Americans, attended college at the University of Chicago and was a three-time alumnus of the Harvard Graduate School of Arts and Sciences...
...Taggart Murphy, a professor at the University of Tsukuba's business school in Tokyo, points to a now familiar Keynesian solution to deflation: more fiscal stimulus. But he says additional government spending is constrained by the country's already high debt load, which is approaching 200% of GDP. "Even if the DPJ (the Democratic Party of Japan, the country's ruling party) decided that their principle policy objective would be to end deflation," he says, "it's not quite clear to me how they'd go about...
...energy from Europe's post-1989 wave of economic neoliberalism? "Quite clearly, the state is back," notes Iain Begg, a professor of European political economy at the London School of Economics. "In front of the failures of the Anglo-American model, we are seeing a revival of Keynesian approaches to react to the crisis...