Word: keynesian
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Dates: during 1950-1959
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...This kind of thing is silly," said Professor Alvin H. Hansen, referring to biographies in general, "but you can't blame the students for wanting to put something in their newspaper." Hansen has a good reason to object; for 20 years as the nation's leading Keynesian economist, he has received plenty of attention...
...Whenever new ideas appear," said Hansen, looking out from under his ever-present eyeshade, "they are first branded nonsense, then dangerous, and finally old stuff." He believes that Keynesian economics has gone through all three stages, that there has been a real revolution in thinking. Businessmen have the idea that Hansen, who looks like a businessman himself, was the ogre who led FDR down the "rosy path of deficit financing." Actually Roosevelt spent mostly for relief, not on Hansen's program of public investment. The revolution in economic thinking engulfed only a portion of the professional thinkers...
...both government and private enterprise. Social ownership of natural resources and utilities, nationalization of basic, sick, or essential industries, and central management of financial institutions would parallel individual operation of consumer-producer units. Branding collectivism as a stop towards totalitarianism. Thomas maintains that government planning and adherence to Keynesian economics can effect the desired economic readjustments...
...labyrinth by way of Henry Wallace's AAA. He helped frame the Wagner Act. He worked his way onward & upward through the Housing agencies. He mastered the gobbledygook of economic language and the fast footwork needed for intramural debate. He learned to jump out from behind corners, making Keynesian faces at businessmen. In 1946, with a boost from Harry Truman, he landed on the newly constituted...
Professor Schumpeter rose above the turmoil of Conservative, Keynesian, and Collectivist viewpoints as few men could do. Instead of attempting compromise he built his own house of economic theory--a theoretical structure that few could assail because few could do battle with it honestly. Often he was a man it was safer to try to ignore. His "Theory of the Business Cycle" was buttressed by some of the most exhaustive research ever attempted in the field of Economics, embracing examples from classic Greek fisheries to Land Grant Railroads. Having trekked over the continent of Europe in a manner that would...