Word: lucases
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In his 2005 hit “As Good as I Once Was,” aging country star Toby Keith meets a set of twin girls in a bar, and—after being propositioned for a three-way “rodeo”—rises...
In the mid-1980s, when Kingsmill was an easily distracted Sydney marketing student, a go-to item in his wardrobe was a T shirt declaring "Live Fast, Die Young in a Nice Pair of Shorts." It was one of Mambo's more benign items. Still to come were Mombassa's...
Instead, what we are seeing now in Washington and other world capitals is fear we might be headed for an economic collapse caused by a collapse of demand caused by a collapse of credit. Confronted with that threat, governments seemingly cannot help turning to the remedy formulated by Keynes during...
Friedman wasn't a Keynesian at all. He distrusted government and didn't believe that bureaucrats could fine-tune the economy for long. His student Lucas offered another criticism: for Keynesian fiscal policy to work, taxpayers had to be awfully shortsighted. Otherwise, they'd see that deficit-financed tax cuts...
The out-of-control inflation of the 1970s wreaked havoc with Keynesian fine-tuning and seemed to confirm the criticisms of Lucas and Friedman. But their victory was never complete. The U.S. economic boom of the 1980s was at least partly the result of deficit spending. As financial crises battered...