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