Quotes About Pump-priming

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.

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.