Word: keynesian
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Dates: during 2000-2009
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...Keynes doesn't play in Peoria. Obama has followed a traditionally Keynesian economic path in responding to the recession - temporarily increasing government spending to make up for slack in the economy. But voters, who continue to suffer from the downturn, are not so impressed. In a recent focus group with independent voters who voted for Obama, Republican pollster Ed Goeas found significant concern about government spending. "There was a tipping point that occurred," he said. "The biggest thing I have seen beyond the intensity and the independents moving has been this focus, in the middle of a very bad economy...
Samuelson, who helped to popularize the introduction of Keynesian economics to Americans, attended college at the University of Chicago and was a three-time alumnus of the Harvard Graduate School of Arts and Sciences...
...Taggart Murphy, a professor at the University of Tsukuba's business school in Tokyo, points to a now familiar Keynesian solution to deflation: more fiscal stimulus. But he says additional government spending is constrained by the country's already high debt load, which is approaching 200% of GDP. "Even if the DPJ (the Democratic Party of Japan, the country's ruling party) decided that their principle policy objective would be to end deflation," he says, "it's not quite clear to me how they'd go about...
...energy from Europe's post-1989 wave of economic neoliberalism? "Quite clearly, the state is back," notes Iain Begg, a professor of European political economy at the London School of Economics. "In front of the failures of the Anglo-American model, we are seeing a revival of Keynesian approaches to react to the crisis...
...Proposals for a nonprofit organization to trim its workforce in light of a recession are rightly controversial, even from economic point of view. In the Keynesian model, a recession can lead to a vicious circle of self-perpetuating cutbacks unless the government steps in to buttress demand. Under this logic, any actor claiming to act in the public interest (including but not limited to the government) ought to buy more goods (and labor) in a recession than a for-profit corporation under comparable constraints in order to maintain employment and demand levels...