The Triumphant Return of John Maynard Keynes
The current liquidity trap, and the need for fiscal policy to address, has breathed new life into the Keynesian tradition, even among right-wing economists. But the risk today is that Keynesian doctrines will be used and abused to serve some of the same interests that pushed deregulation ten years ago.
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NEW YORK – We are all Keynesians now. Even the right in the United States has joined the Keynesian camp with unbridled enthusiasm and on a scale that at one time would have been truly unimaginable.