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I guess everyone is a Keynesian in a foxhole.

— Robert Lucas Jr. to Justin Fox, quoted in Bob Lucas on the comeback of Keynesianism (2008)

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More quotes by Robert Lucas Jr.

A key element in all Keynesian models is a ‘trade-off between inflation and real output: the higher is the inflation rate; the higher is output (or equivalently, the lower is the rate of unemployment).

For policy, the central fact is that Keynesian policy recommendations have no sounder basis, in a scientific sense, than recommendations of non-Keynesian economists or, for that matter, non-economists.

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Quote text and notes from Wikiquote: Robert Lucas Jr. (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.