We are all Keynesians now

Doug Henwood dhenwood at panix.com
Fri Jun 5 11:15:44 PDT 1998


michael wrote:


>By the way, Reagan was perhaps the most Keynesian president we have ever had.

Supply siders would have your head for this! They said that their tax cuts were supposed to alter incentives, not pump up aggregate demand. Of course, it did pump up aggregate demand, and tax changes don't really seem to have much effect on economic behavior, but still, in the interests of doctrinal purity, the essential distinctions must be preserved!

Doug



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