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Word: keynesism (lookup in dictionary) (lookup stats)
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Although Godkin Lecturer Paul A. Samuelson was moderating the symposium, entitled "Harvard and Keynesian Economics, 1936-86," he also berated Feldstein for his comment, nothing that it is only by utilizing the tools which Keynes himself invented that economists can now see his shortcomings.

Author: NO WRITER ATTRIBUTED | Title: Don't Speak Evil of the Dead | 9/7/1986 | See Source »

Indeed, the economic revolution which Keynes inspired was "the most significant event in economic scientific history in this century," Samuelson said.

Author: NO WRITER ATTRIBUTED | Title: Don't Speak Evil of the Dead | 9/7/1986 | See Source »

In a brief rebuttal period, Feldstein said that he did not mean to downplay Keynes' importance in economic history but only to suggest that the over-implementation of his theories into public policy led to large deficits and a decline in capital formation.

Author: NO WRITER ATTRIBUTED | Title: Don't Speak Evil of the Dead | 9/7/1986 | See Source »

A related confrontation ensued when Feldstein asserted that Keynes "made a virtue of deficit spending" and didn't believe in a future debt.

Author: NO WRITER ATTRIBUTED | Title: Don't Speak Evil of the Dead | 9/7/1986 | See Source »

Economics Professor Benjamin M. Friedman '66 responded to Feldstein's claim, saying "there is nothing to make one suspect that Keynes supported deficit spending in all cases."

Author: NO WRITER ATTRIBUTED | Title: Don't Speak Evil of the Dead | 9/7/1986 | See Source »

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