Word: keynesian
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What is new is difficult. It has not yet taken full shape; it is not yet trustworthy, but it is extremely powerful. Splitting the atom, discovering radiation, Keynesian economics, postructuralism, relativity and now computerization: all are the results of great social debate and change, and all have their share of ugliness. Major shifts in human thought are not negotiated without some who recognize power in the new--the democratic, the economic, the wired--and seek to exploit...
...this and other books, Galbraith argued for a Keynesian approach to economics and public policy. He has advocated government spending to fight unemployment and poverty...
...Rubin emerged having promised nothing -- and said everything. "The U.S. is being quite candid," says TIME business correspondent Bernard Baumohl. "Japan must do something to revive their economy." What the U.S. has in mind are not only long-term structural reforms but a very simple short-term Keynesian solution of government spending and tax cuts. But despite repeated promises by Prime Minister Hashimoto, Japan's government has been frustratingly slow...
Galbraith has published widely in the areas of Keynesian and post-Keynesian economics and has been an active and outspoken purveyor of lib- INGeral ideology during the second half of the century...
F.D.R., however, proved a reluctant convert; in 1937 he was still pining for a balanced budget, something that Keynesian economists warned would turn the "Roosevelt recession" into another full-fledged depression. Roosevelt's advisers accordingly persuaded him to seek to increase consumption. The answer to the question "What can you do for your country?" became "Consume." Thrift became wasteful, shopping patriotic--laying the groundwork for the I-consume-therefore-I-am society of today...