Word: keynesians
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...frank, Ec 1 seems to be controlled and guided by Keynesian economists and New Dealers (some of whom have served as advisers to President Roosevelt and Truman) who appear to be unable or disinclined to detach themself as scholars from the controversial political and social issues which involved those two politicians. Consequently, most lectures and some sections in the course often degenerate into a simple apologia for the New Deal...
...fact is that virtually no non-Keynesian economics, that is, "classical" or "laissez-faire" economics, finds its way into the course, except in derogatory terms. In Samuelson's "Economics," basic reading for Ec 1, Ludwig von Mises and Friedrich A. Hayek are relegated to two brief footnotes each (Yes indeed, who are they?). Wilhelm Roepke isn't even mentioned. In one of the sections, Henry Hazlitt was denounced as representative of the most "reactionary" economic views today, fortunately limited only to a "fringe" group. There is practically no analysis this year of Adam Smith, Spencer, Alfred Marshall, W.G. Sumner...
Wilson laid the groundwork for future economic reforms, he stated. "Collective bargaining, equalizing of funds, graduated income tax, and the Federal Reserve System, were elements of Wilson's economic policy which show that he went far beyond the merely negative policy of trying to resume competition," the leading Keynesian economist concluded...
Summers, however, in his usual hustling economic reforms, he stated. "Collective bargaining, equalizing of funds, graduated income tax, and the Federal Reserve System, were elements of Wilson's economic policy which show that he went far beyond the merely negative policy of trying to resume competition," the leading Keynesian economist concluded...
...head the moribund College of Commerce, Stoddard imported a Keynesian economist named Howard Bowen who was soon accused of firing a professor for being too "conservative." The Chicago Tribune picked up the cry, and Stoddard was forced to let Bowen...