Word: keynesians
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...since February 1961, the month after John Kennedy took office at the tail end of a recession. Though the Democratic policymakers certainly cannot claim all the credit for the longest advance in the nation's history, they have done a conspicuous amount of managing and masterminding through their Keynesian New Economics. They leave behind a remarkable record for the Republicans to try and match-as well as many difficult problems for them to try to solve...
That exposed a critical weakness in the neo-Keynesian economics, which relies primarily on delicate adjustments in taxes, government spending and monetary policy to keep the economy running close to capacity. The New Economics had served well when business needed a push. But Britain's Keynes presumed that policymakers would always be wise enough, given knowledge of his theories, to do the right thing at the right moment. In the U.S., however, political leaders are usually unwilling to raise taxes quickly enough in overly expansive periods. The theories of the New Economics have not been found wanting; they have...
...council is a pygmy among Washington agencies in terms of size, it can be a giant in influence. Started in 1946 by President Truman, the council rose to real power when John F. Kennedy appointed Walter Heller to be chairman in 1960. Heller was the leading advocate of the Keynesian "New Economics"-the policy of flexibly adjusting taxes, Government spending, and the money supply to influence the economy -and he sold Kennedy on the idea of cutting taxes to stimulate business and employment. His successors, Gardner Ackley and Arthur Okun, have acted as important policymakers within the Johnson Administration. President...
...Soul Massager. Schiller also fought through legislation providing for Keynesian control of the economy from the top, a council of economic "wise men," and four-year fiscal planning where none had existed before. Other Schiller ideas and slogans came in salvos. He junked the verbal Seelen-massagen (soul massages) that Erhard used to aim at German employers and unions. He substituted regular private sessions with business and labor at which he preaches "social symmetry," his way of describing wage and price restraint and equilibrium...
...testy, mercurial sort, Schiller was an academic prodigy before he got into government. The son of an engineer, he earned his economics doctorate at 24, developed a fascination for Keynesian economics as a lecturer at Kiel and a full professor at Hamburg. He got a chance to put his theories into practice in 1961, when Willy Brandt, then socialist mayor of Berlin, put Schiller to work at reversing the divided city's economic decline. By offering various tax incentives, Schiller successfully stanched a worrisome exodus of citizens from the city...