John Maynard Keynes and Milton Friedman were two of the most influential economic and public policy thinkers of the 20th century. If Keynes was the most influential economic thinker of the first half of the 20th century, Friedman was the most influential economic thinker of the second half. Unti...
While Keynes often tried out new ideas, as he did with his neo-Wicksellian theory of the business cycle in his Treatise on Money only to abandon it in response to criticism and the changing economic environment of the Great Depression before writing his General Theory of Interest, Income and...
but I thought I’d play Devil’s Advocate for his injured patient metaphor. Michele BoldrindebatedBrad Delong on the stimulus taking a similar position that countries don’t recover from financial busts unless they fix their banking system.Adam Pozensimilarly credits the reform of Japan’s banki...