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