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Date: | Fri Jun 2 14:27:35 2006 |
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Pat Gunning wrote
> now-discredited break-budget, inflationary Keynesian
> economics
I suppose "break-budget, inflationary" economics might well
be considered discredited, whether its advocates be
"Keynesian" or "Classical" in leaning.
I trust Pat did not meant to imply, as he seems to, that
"Keynesian economics" has lost its credit in the profession,
however, since that flies in the face of much current macro
research.
I trust as well that Pat must implicitly be distinguishing
between the economics of Keynes and what he calls "Keynesian
economics", by which he seems perhaps to mean the economics
of Abba Lerner or possibly, in the context of his message,
the introductory-level macroeconomics of Samuelson (1948).
Cheers,
Alan Isaac
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