Word: keynesian
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...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...
...principled leadership, but only the tea-party fringe seems to be following. "Nobody likes Dr. Doom," Sanford says with a smile. Leading a state with the nation's third highest unemployment rate, he understands the Keynesian idea that only government spending can jump-start a recessionary economy: "I get it. I'm supposed to be proactive." But if spend-and-borrow is the only alternative to a depression, he says, "then we're toast...
...university is not going anywhere, but delaying improvements will have dismal effects on future endowment performance. The current global economic crisis is being fought by governments from South Africa to Japan with counter-cyclical measures that attempt to hasten the move from recession to growth. The now-revived Keynesian approach justifies the deep temporary deficits with the promise of future growth. The same applies to Harvard, for the endowment will continue to grow–and receive fresh funds–as soon as growth resumes. Hence we should behave counter-cyclically, helping the economy and the community...
...economy, he moved to slash government expenditure 40% over five years, balance the budget by 2012 and double the consumption tax to 10% by 2015. In the light of Japan's economic meltdown, all that has changed. Like other deficit-busters, Yosano has turned to old-fashioned Keynesian demand management to kick-start the economy. "He shifted completely to say that to get over this crisis we need a big stimulus package and to worry about fiscal consolidation and reducing deficits later," says Gerald Curtis, a Columbia University politics professor who has known Yosano since the late 1960s...
Coordinate spending programs. Instead of playing the my-Keynesian-deficit-spending-plan-is-bigger-than-yours game, leaders should coordinate specific measures in order to get more bang for their bucks. It's counterproductive and potentially anticompetitive for some nations to rescue their auto industries, for example, while others don't. Far better to agree on ground rules governing which industries are entitled to receive state aid and how it should be given...