Word: keynesism
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Yet the instinct of the President and his advisers is correct to the extent that investment must be encouraged if the economy is to regain its vigor. The problem here is how to place capital in the hands of new entrepreneurs, much of whose investment will be in plant and...
The argument is older than the New Frontier, and for all the Administration's talk of bold new solutions, it was oldfashioned (but never fully accepted) John Maynard Keynes doctrine. Though old hat to economists, it might be hard to sell to the Congress, or, for that matter, to...
Raising Keynes. But what went down did not stay down. A fortuitous combination of actions by business, the public and the Administration, plus the happenstance of foreign affairs, changed the mood. The Administration launched a drive, at first greeted with great suspicion, to regain business confidence. It began paying attention...
Beatnik Boy Scouts. Though Russell at 90 commands the special brand of affectionate awe that the English reserve for all eccentric aristocrats and antic nonagenarians, his neutral-to-Nikita stand revealed to many what Economist Maynard Keynes once called "Bertie's ludicrously incompatible views" of man's fate...
Navy Secretary by F.D.R. Byrd had campaigned for Roosevelt, was all aglow at the money-saving promises of the New Deal platform. The glow quickly faded. Byrd recalls the disenchantment: "The first bill I voted for was to preserve the federal solvency, to cut federal expenses 15% across the board...