Word: keynesism
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Still, President Franklin Roosevelt - who rode into office on a platform of deficit reduction - initially hedged his bets, taking stabs at public-works projects and farm subsidies while also rolling out balanced-budget initiatives. When a British economist visited the White House in 1934 saying deficit spending was the best...
Of course, the ideas of John Maynard Keynes are also behind the auto-industry bailouts, new financial regulations and public investments pushed by the Obama Administration. The difference is both in the details and the big picture: not only do specific national economic policies in Europe tend to still trail...
In the meantime, Scarpetta says, the victims of the crisis in Germany and elsewhere tend to be disproportionately young, low-skilled and immigrant workers, which does not help prepare Europe for the future. Indeed, consensus is gathering around a new model, which is neither the unbridled neo-liberalism of the...
There's nothing like financial Armageddon for reviving the work of an old economist. Amid the recessionary doom and gloom, the world has channeled Adam Smith, dusted off John Maynard Keynes and revisited Eugene Fama. In recent days, it's been James Tobin's turn. Close to four decades since...
Marglin says the class was largely structured around his own criticisms of Economics that he was putting together in his book. But he also wanted to incorporate a more holistic history of criticism. As advertised, the syllabus offers an array of economic ideologies, including writings from Adam Smith to John...