Word: keynesism
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In this introduction, Warsh calls this the "social world of economics," It's world that includes interesting little tidbits perfect for cocktail party conversation--like the fact that John Maynard Keynes, the force behind interventionist government theory, was " a fairly promiscuous, always intense denizen of a hot-house society,"
That morsel is contained in chapter one, "The Sex Lives of the Great Economists," which draws a weird but engaging link between Keynes' bisexuality and his revolutionary economic theory.
Russia's immediate problem is its currency. The ruble is play money, testimony to John Maynard Keynes' observation that "the surest way" to destroy a government is to "debauch its currency." Thanks to an unrestrained government printing press run by Moscow's central bank (whose chairman is appointed by the...
The lame excuses for shockingly poor performance by these same individuals and their loose talk about the long-range merely serves to obfuscate real issues. It attempts to hide inexcusable blunders of the last five to six years by "averaging" them with previous more acceptable performances. This is nothing less...
I, for example, am Concentrating! in economics--not because I think Keynes is cool (in fact, that would be a liability in the Harvard economics department), but because Physics 55 met at 8:30 a.m. Ec 10 met at noon. Sold.