Thursday, October 21, 2010

In the Long Run Keynes is Dead

From The New York Times. Whereas Europe looked to Keynes for getting out of the Great Depression, his influence has waned in the Great Recession.

Europe Is Turning Its Back on Keynes’s Cure for Recession

By LANDON THOMAS Jr.
In the land of his birth, John Maynard Keynes’s view that deficit spending is crucial to avoiding a long recession has lately been willfully ignored.

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