Word: keynesism
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against a soundtrack of thumping music and the high-pitched shrieks of revelers. The cruise liner is the latest cheap-and-cheerful venture from Greek-Cypriot entrepreneur Stelios Haji-Ioannou. Ten years after U.K.-based easyJet - now one of the largest intra-European airlines - took off, there's an easy...
DIED. ROBERT HEILBRONER, 85, refreshingly accessible economics historian whose 1953 book, The Worldly Philosophers, remains the country's second best-selling economics textbook (after Paul Samuelson's Economics); in New York City. In some 20 books, he brought to life the ideas of such thinkers as Adam Smith, Karl Marx...
Keynes used the term animal spirits to describe the motivation of business people. A successful economy needs a culture that encourages them, up to a point. It's a Goldilocks-type situation. You don't want too much greed, and you don't want too little--you want an amount...
At the same time, since a considerable portion of the total debt was owed to the IMF, it was hardly enthusiastic about what debt forgiveness would do to its balance sheet. Given all this, it was not too surprising that only three countries - Uganda, Bolivia and Guyana - met the hurdles...
The plan is certainly an aggressive specimen of free-market Republicanism and a stirring tribute to the twin ghosts of Keynes and Reaganomics. Deficits? If they even matter (which die-hards still won't admit), just tell Congress to spend a little less, if you're so worried, and private...