Keynes Reconsidered
John Maynard Keynes’ prescription for government intervention to stimulate demand is getting more play in the media and salons these days. There is still some strong, insightful resistance to pure Keynesian policy directions, but his ideas are having something of a renaissance now that the Federal Reserve has lowered its target interest rate as far as it can go.
This NPR piece gives a good overview of the issues and a glimpse of the man himself. I listened to it on the way home from teaching macroeconomics, and felt my day was complete.
Photo credit to: Walter Sanders/Time Life Pictures
I teach principles of economics courses and a course in the economics of healthcare at Southern Oregon University.
