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...Fervor of Religion. There is no doubt that Friedman's persuasive powers helped to swing the Nixon Administration away from the precepts of Britain's late John Maynard Keynes. An apostle of intervention, Keynes acknowledged a role for money policy but preached that governments should mainly manipulate fiscal policy-that is, taxes and spending-to help determine their economic destinies. Nixon's top economists rejected the Keynesian "new economics" of the Kennedy and Johnson administrations. They labeled themselves "Friedmanesque," and indicted the "new economics'' as the cause of inflation and social unrest...

Author: /time Magazine | Title: Business: Milton Friedman: An Oracle Besieged | 2/1/1971 | See Source »

Most of today's economists, however, have been reared in the Keynesian faith, and they lean toward the Democratic Party. The monetarists, on the other hand, tend to identify with Republicans. The ensuing clash of philosophies thus involves high policy, politics and the fervor of a religious schism. Nixon's half-successful jawboning against steel-price increases suggests that Friedman may have lost his most illustrious convert. After his recently televised "conversation," the President remarked casually to a startled TV commentator: "I am now a Keynesian...

Author: /time Magazine | Title: Business: Milton Friedman: An Oracle Besieged | 2/1/1971 | See Source »

...write flowery asides to the non-German civilian: "Shall I ever deserve pardon? . . . Can I ever forget?" But his real peer group then-and now -is that absolutely disciplined iron man, the German soldier. As an Alsatian (he even wrote his memoir in French), he admires with the special fervor of the semi-outsider...

Author: /time Magazine | Title: Books: Up the Down Steppes | 1/25/1971 | See Source »

...Orange (2,4,5-T) as a chemical defoliant in Viet Nam. Ecological idealism inspired the young and pleased the old as evidence that youth was finally doing something constructive. By the time Earth Day dawned on April 22, ecoactivists of all ages were suffused with a quasi-religious fervor. Many were also armed with petitions and pickets against a growing list of alleged villains of pollution, including Dow Chemical, General Motors and Chicago's Commonwealth Edison...

Author: /time Magazine | Title: Issue Of The Year: Issue of the Year: The Environment | 1/4/1971 | See Source »

Book publishers are not letting the confessional fervor bypass them, either. Books by Virginia Woolf, Simone de Beauvoir, and Betty Friedan are being reprinted and vigorously promoted. Even the Coop has set aside a special table for book on the Women's Movement, as if they were the hottest item since Psychedelic...

Author: By Elizabeth R. Fishel, | Title: Books The Wheel of Love and Other Stories | 12/8/1970 | See Source »

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