13 quotes
The deficit is not nearly the monster some people imagine.
Peddling Prosperity (1994)
Ronald Reagan stands accused of inflicting a huge burden of debt upon his country.
Peddling Prosperity (1994)
The usual and basic Keynesian answer to recessions is a monetary expansion.
Peddling Prosperity (1994)
The Keynesian answer to a liquidity trap is for the government to do what the private sector will not: spend.
Peddling Prosperity (1994)
It fell to the British economist John Maynard Keynes to provide a clear story about what happens during a recession, and some useful advice about how to get out of one.
Peddling Prosperity (1994)
It was in challenging the orthodox, Keynesian view of business cycles that conservatives first forced a major rethinking of economics.
Peddling Prosperity (1994)
The other mystery is the reason why there is a business cycle - the irregular rhythm of recessions and recoveries that prevents economic growth from being a smooth trend.
Peddling Prosperity (1994)
There was a huge intellectual gulf between Feldstein or Boskin and the sweeping claims of Arthur Laffer; but in the public mind, they were in effect allies.
Peddling Prosperity (1994)
Why is economics such a hard subject?
Peddling Prosperity (1994)
Why did the magic economy go away?
Peddling Prosperity (1994)
As the example of Ronald Reagan shows, real political success comes not simply from appealing to the interests that people currently perceive but from finding ways to redefine their perceived interests, to harness their discontent in favor of changes that you can lead.
Peddling Prosperity (1994)
Like any major intellectual contribution, Keynes's ideas were bitterly criticized. To many people it seems obvious that massive economic slumps must have deep roots. To them, Keynes's argument that they are essentially no more than a problem of mixed signals, which can be cured by printing a bit more money, seems unbelievable.
Peddling Prosperity (1994)
On the whole, the monetarism for which Friedman first became famous seems clever, brilliantly argued, but shallow ― and perhaps even a bit disingenuous. Friedman's writings from that period have the feel of a smart man who knows what he wants to believe looking hard for supporting arguments. And I think it is fair to say that up until the late 1960s Friedman and his followers, while influential, were regarded by many of their colleagues as faintly disreputable.
Peddling Prosperity (1994)