Word: keynesism
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The U.S. Government may or may not serve as a model of responsibility, but it has become deeply committed to deficit financing. The Treasury in effect admits that the current national debt will never be substantially reduced. When a spurt of tax revenues during this year's first quarter...
In brief, Keynes considered purchasing power, or "aggregate demand," to be the most important force in any economy; the best way to maintain high demand, he said, is for the Government to borrow money and pump it into the economy to supplement private investments. Washington has been raising Keynes since...
Sir: In your cover story on Norton Simon [June 4], he is compared to Gertrude Stein, William Saroyan and Lord Keynes, among others. The story also quotes him as believing himself to be "in the process of becoming" and that ours is a "paradoxical life." This is purely the philosophy...
And an unlikely figure he is. A college dropout, he frequently talks like a tortured composite of Gertrude Stein, William Saroyan and Lord Keynes. "I am in the process of becoming," he says ?period. He boasts, with absolute seriousness, that "I have a rigidity of flexibility." His view of...
The oldest and perhaps most radical plan for reform, first suggested by Britain's Lord Keynes, is to turn the IMF into a supercharged world central bank with powers to create its own money. Yale Economist Robert Triffin revived and modernized this idea in 1959, and it has been...