Quotes About Keynesian

There is one good thing about Marx: he was not a Keynesian.

Keynesian orthodoxy started from the assumption that capitalist markets would not really work unless capitalist governments were willing effectively to play nanny: most famously, by engaging in massive deficit "pump-priming" during downturns.

The Means to Prosperity articles had momentous impact – not only because the pleasure felt in understanding subtle arguments predisposes people towards accepting their conclusions. The articles sparked international discussions which inaugurated the oncoming Keynesian Revolution.

Keynesian modelling relies on marginal propensity to consume and marginal propensity to invest. The idea that if we give more money to the poor, they have a propensity to consume that's much higher than the wealthy, though I wish they would talk to my wife about that; she seems to have a propensity to consume.

That was standard Keynesian practice, a kind of pump-priming used by governments ever since the third New Deal of 1938, as Diane told them now, with World War II itself an even bigger example.

Modern Monetary Theory was in some ways a re-introduction of Keynesian economics into the climate crisis.

GDP statistics and Keynesian macroeconomic policy were mutually reinforcing.

John Maynard Keynes, the great British economist, died in 1946. But his ghost lives on. When economies around the world contracted sharply in late 2008 and early 2009, government officials started seeing visions of the 1930s and turned

John Maynard Keynes, the great British economist, died in 1946. But his ghost lives on. When economies around the world contracted sharply in late 2008 and early 2009, government officials started seeing visions of the 1930s and turned immediately to the teachings of Lord Keynes.

In some ways the most striking novelty in Keynesian doctrine was that (abstracting from effects on foreign trade) an all-round reduction in wages would not reduce unemployment and (introducing Kalecki's elaboration) would actually be likely to increase it. [p. 129]

Keynes's economics – unlike Keynesian economics – was philosophically driven. It was informed by his vision of the 'good life'; it was permeated by his theory of probability. These philosophical foundations were laid early in his life. Philosophy came before economics; and the philosophy of ends came before the philosophy of means.

It was the income-determination model, based on the multiplier, together with the consequent development of national income statistics, which made Keynesian economics acceptable to policy-makers, since it offered them a seemingly secure method of forecasting and controlling the movement of such 'real' variables as investment, consumption, and employment.

The Keynesian idea is once again accepted that fiscal policy and deficit spending has a major role to play in guiding a market economy. I wish Friedman were still alive so he could witness how his extremism led to the defeat of his own ideas.

Economics has paid a terrible price for its dalliances with the Keynesian and neoclassical theories.

At the time, my personal research objectives were to provide Keynesian economics with more rigorous foundations and to tighten and elaborate the logic of macroeconomic and monetary theory.

There is a hypothetical maximization of income, constrained by individuals and of cost constrained profits of firms. Keynesean

The Keynesian prescription for unemployment rests on the persistence of a 'money illusion' among workers, i.e., on the belief that while, through unions and government, they will keep money wage rates from falling, they will also accept a fall in real wage rates via higher prices.

Had Schleicher been successful in his leadership of the German government at the end of 1932, he would probably have headed a very moderate, essentially anti-Nazi form of nationalist authoritarianism that would have avoided a sharp break with the republican constitution and promoted a reflationary, reformist economic policy along Keynesian or New Deal lines to revive the economy and conciliate German society.

The university system has been monopolized by a group of folks who believe that it's no longer worthwhile debating the evidence on tax rates, or whether the Laffer curve is right, or whether Keynesian policies actually promote economic growth. They

I would reject the distinction between a Keynesian moment and a behavioral moment.

I don't think Keynesian Monetarism has to be Democrat or Republican.

One of the worst results of the retention of the Keynesian myths is that it not only promotes greater and greater inflation, but that it systematically diverts attention from the real causes of our unemployment, such as excessive union wage-rates, minimum wage laws, excessive and prolonged unemployment insurance, and overgenerous relief payments.

The Keynesian belief that 'demand' is always at the root of underemployment and slow growth is a fallacy.

The economist John Maynard Keynes said that in the long run, we are all dead. If he were around today he might say that, in the long run, we are all on Social Security and Medicare.