Word: keynesianism
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...larger stimulus package, and another might be needed in a couple of years. By highlighting the goal of halving the deficit, Obama limits his ability to react to future crises. Obama’s economic policy, especially the stimulus package passed, shows a belief in the principles of Keynesian economics. Maynard Keynes himself once suggested that, to battle the Great Depression, we bury money underground and hire workers to dig it out. Hopefully, Obama’s policies to rejuvenate the economy are more useful than this, but his message should be closer to Keynes’s than...
...timing of this announcement may seem unwise in the midst of the current recession: Keynesian economics holds that the government should counter recessions with more, not less, spending. Given the sizeable federal spending that the administration has already approved, however, this announcement serves as a way to reassure the country that, despite the recession, the administration still has a long-term economic plan and is still committed to responsible fiscal policy...
...unemployed workers and equipment back to work ASAP. As Christina Romer, an expert on the Depression who will chair Obama's Council of Economic Advisers, warns in a new YouTube video, we can't "let that vicious cycle go all the way to the nightmare scenario." In fact, many Keynesian liberals have been dismissing the Obama proposal as overly timid, and Obama has suggested it could grow...
...remain hidden behind a projected persona. He’s both brash, gun-loving T.I.P. and self-assured entertainer T.I., and while this has surely fractured his own psyche, at least we can have him however we like. Economics Let the Dollar Circulate: Young Jeezy and the Problem with Keynesian Economics Primary source: The Recession, a much needed stimulus package for Jeezy’s bank account. Prospectus: By his own admission, Jeezy has “got money,” and like most American consumers he would prefer to keep it out of government hands, since...
...control inflation of the 1970s wreaked havoc with Keynesian fine-tuning and seemed to confirm the criticisms of Lucas and Friedman. But their victory was never complete. The U.S. economic boom of the 1980s was at least partly the result of deficit spending. As financial crises battered much of the world in the 1990s, governments turned to tools devised by Keynes simply because other approaches didn't work. And behavioral economic research has since shown that most humans are awfully shortsighted...