Word: maynards
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...part, legendary British economist John Maynard Keynes, who drafted much of the plan, called it "the exact opposite of the gold standard," saying the negotiated monetary system would be whatever the controlling nations wished to make of it. Keynes had even gone so far as to propose a single, global currency that wouldn't be tied to either gold or politics. (He lost that argument...
...quite engage us in a criticism of overconsumption or materialism, nor does he really champion the need for environmental sustainability. Stoll offers us mostly platitudes, empty truisms about the unnecessary excess of our commercial world. And yet these truisms are not entirely irrelevant. In the 1930s the economist John Maynard Keynes told us that the “ecosnomic problem” is not the permanent problem of the human race. One hundred years from now, he wrote, our grandchildren would have found a solution to that problem. But 80 years after the Great Depression, in the midst...
...Quotes about Krugman: • "The best claimant to the mantle of John Maynard Keynes." - economist Brad DeLong...
...Treasury is also active in ways it wasn't during the Depression. Back then, conventional wisdom held that the government should try to run a balanced budget in a crisis, even if that meant cutting welfare spending and raising taxes. A generation of economists inspired by John Maynard Keynes taught us that this is precisely the wrong thing to do. Government deficits in a recession are good, the Keynesians argued, because they stimulate demand. The Bush Administration, which ran substantial deficits in the boom years, looks set to run an even larger deficit...
...current crisis reminds us that, in a free economy, the price of the greatly improved long-term performance that only free economies can provide is an ineradicable economic cycle. As John Maynard Keynes pointed out in the 1930s, the cause of the cycle is alternating moods of optimism and pessimism, and its motor is credit, which enables optimism to determine economic activity. However, when Keynes discussed it, the only significant form of credit was business credit, financing capital investment decisions. There has since been a massive growth of consumer credit, which amplified the business cycle and prolonged the recent upswing...