Word: keynesism
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His chance came in Washington, in the U.S. Treasury Department. He got a job there, and he pushed and shoved and schemed his way upward until he was one of the most important men in the world. Before long, he was sneering publicly at Robert A. Taft, telling him haughtily...
This gave some staff members an idea. If the boss thought that technique worked so well, maybe it would work on him. They tried it, and work it did. When an employee would tell him that he was a greater economist than Britain's Lord Keynes, the man White...
With White constantly at Morgenthau's elbow and ear, the Treasury Department became an important voice in wartime diplomacy, and it was a leading planner for major postwar policies. Morgenthau sat as chairman of an interdepartmental committee on postwar economic planning. White drafted the basic plan for the International...
An Unknown World. Since Adam Smith, economists (and politicians) have gone a full circle. In his time, capitalism was revolutionary and liberal; today, in the minds of many, it is reactionary. In his time, the idea that the state must control economic affairs Was reactionary; today, for millions, it is...
Author Heilbroner sides with the optimists in his collection (though he leans to the cautious hope of Keynes far more than to the bolder hopes of Adam Smith, as adapted to modern times by Economist Friedrich Hayek). Heilbroner predicts that economics will diminish somewhat as an influence on human affairs...