Word: keynesians
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Along with the other incentive economists, Feldstein argues that the Government is trying to do too many things that it either cannot do efficiently or that people can do better for themselves. That, of course, is a direct affront to Keynesian doctrine. Beginning in the mid-1930s, Establishment pillars of the dismal science have propagated Keynes' captivating notion that governments could tame beastly economies, making them stand up and jump through hoops. His prescription succeeded in lifting Western countries out of the 1930s Depression that had been triggered by an almost complete collapse in demand both...
Friedman is a vocal and prolific economist known for his firm devotion to monetary economic theory at a time when most other economists subscribed to Keynesian theory. Friedman has served on the faculty of the University of Chicago from 1946 to 1977 and senior research fellow at Stanford's Hoover Institute since 1977. He writes an economic column for Newsweek. An ardent supporter of free enterprise, Friedman believes that many government welfare and antipoverty programs do more harm than good, and he especially disapproves of manipulating government tax and expenditure rates to stabilize the economy. A firm believer in limiting...
...have agreed on a platform that advocates Keynesian economic tactics coordinated by and rooted in longer-term industrial planning. Both organizations see industrial planning as essential if Canada is to protect its resources, diversify its economy and use its manpower effectively. But while industrial planning is one thing, an industrial plan is quite another. To date, no one has proposed anything resembling a comprehensive plan...
ALPEROVITZ's other major research project also concerns counter-productive profit motives, in regards to inflation. Contrary to Keynesian and neoclassical theory, Alperovitz believes government budget deficits have had little to do with the inflation of the past six years. The four necessities--food, housing, energy, and health care--account for over 80 per cent of inflation, he maintains. In health care, for instance, there is no check on greed--third parties, the insurance companies, pay for most treatment, and doctors and hospitals charge whatever the "market" will bear. The result: spiraling insurance premiums and profits, soaring medical costs...
...this presented some problems for the Economics Department, particularly because there was no way to recreate a general exam comparable to the one Fogel would have taken 50 years ago. "Most of what he studied was pre-Keynesian economics," David G. Hartman, assistant professor of Economics and Fogel's tutor, said this week. "It was impossible to write a fair general exam, so he wrote a senior paper instead...