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Keynesianism Quotes

Browse 12 quotes about Keynesianism.

Keynesianism Quotes

“The general economic growth of the quarter of a century that followed World War II not surprisingly created many illusions. In the West, people thought that they had found in Keynesianism the definitive solution to the problem of crises and unemployment. It was thus thought that the world had entered into an era of perpetual prosperity and definitive mastery of the business cycle. In the socialist world, it was also thought that the model formula for even higher growth had been discovered which enabled Khruschev to announce victoriously that by 1980 the USSR would have overtaken the united States "in every domain." In the third world of Africa and Asia, the national liberation movements which had seized political independence, also had a battery of prescriptions which, in a mix of capitalist and socialist recipes, in doses that varied from case to case, would enable these movements to overcome "underdevelopment" in "interdependence.”

West East Usa Economic Growth Third World Illusions Economic Crisis Ussr Keynesianism Underdevelopment

Author:Samir Amin

“Weintraub was an excellent student of both microtheory as well as Keynes’s General Theory.”

Keynes Keynesianism Microeconomics Paul Davidson Sidney Weintraub

Author:Paul Davidson

“Not every paradox is correct just because it is a paradox. And what may be an interesting and intriguing mental exercise for specialists who are certain never to lose the firm ground of common sense and fundamental economic insight, becomes irritating and misleading heresy when swallowed whole by minor minds and fanatics.”

Paradoxes Keynesianism

Book:The Economics of Illusion

Source: The Economics of Illusion

“In fact, I sometimes think Keynes wrote his book with his tongue in his cheek. He was doubtless often surprised at the seriousness with which his colleagues took his theses. And if to all this one should remark that I am incapable of grasping the Keynesian intricacies, I would have to console myself with what an old Berlin banker said to an apprentice who was desperate because he was unable to comprehend what a client had written: "Young man, if you are not able to understand his letter, it is probably because it is not understandable.”

Book:The Economics of Illusion

Source: The Economics of Illusion

“Gore Vidal, the American writer, once described the American economic system as 'free enterprise for the poor and socialism for the rich'. Macroeconomic policy on the global scale is a bit like that. It is Keynesianism for the rich countries and monetarism for the poor.”

Country Bits Poor Rich Economic Policy Scales Socialism Enterprise Gore Economic Systems Free Enterprise American Writer Rich Countries Macroeconomics Keynesianism

Book:Bad Samaritans: rich nations, poor policies, and the threat to the developing world

Source: Bad Samaritans: rich nations, poor policies, and the threat to the developing world

“But public works, economic protectionism, cheap money, "deficit-financed government spending," and "the animal spirits of the spendthrift in the service of boosting "consumption demand"... Doesn't Keynesianism simply appeal to the worst in human nature?”

Humans Government Spirit Animal Economic Worst Human Nature Demand Spending Appeals Consumption Deficit Government Spending Protectionism Spendthrift Animal Spirits Keynesianism

Author:Ilana Mercer

“Broadly speaking, Keynesianism means that the government has a specific responsibility for the behavior of the economy, that it doesn't work on its own autonomous course, but the government, when there's a recession, compensates by employment, by expansion of purchasing power, and in boom times corrects by being a restraining force. But it controls the great flow of demand into the economy, what since Keynesian times has been the flow of aggregate demand. That was the basic idea of Keynes so far as one can put it in a couple of sentences.”

“Economics departments are dominated by Marxism, which is taken straight or on the rocks, in the form of Keynesianism.”

Form Taken Rocks Economics Department Marxism Keynesianism

Author:Ayn Rand

“For better or worse, US Keynesianism was so far ahead of where it started. I am a cafeteria Keynesian. You know what a cafeteria catholic is?”

Knows Catholic Cafeteria Keynesianism

Author:Paul Samuelson

“The unprecedented success of Keynesianism is due to the fact that it provides an apparent justification for the 'deficit spending' policies of contemporary governments. It is the pseudo-philosophy of those who can think of nothing else than to dissipate the capital accumulated by previous generations.”

Thinking Philosophy Facts Government Generations Policy Spending Dues Contemporary Justification Deficit Unprecedented Pseudo Previous Generations Deficit Spending Keynesianism

Book:Planning for freedom, and twelve other essays and addresses

Source: Planning for freedom, and twelve other essays and addresses

“Economics and politics are so intertwined and interlinked that politics now, mainstream politics, extreme center politics, are little else but a version of concentrated economics. And this means that any alternative - alternative capitalism, left Keynesianism, intervention by the state to help the poor, rolling back the privatizations - becomes a huge issue. The entire weight of the extreme center and its media is turned against it, which in reality now is beginning to harm democracy.”

“The essence of Keynesianism is its complete failure to conceive the role that saving and capital accumulation play in the improvement of economic conditions.”

Play Politics Roles Economic Conditions Essence Improvement Saving Accumulation Keynesianism

Book:Planning for freedom, and sixteen other essays and addresses

Source: Planning for freedom, and sixteen other essays and addresses