Fwd: Unemployment in China

Charles Brown charlesb at CNCL.ci.detroit.mi.us
Fri Jun 5 12:51:23 PDT 1998

The page is torn out of my 1969 edition of Paul Samuelson's _Economics_, but now that I have though about it, I think it was Freidman, as someone said, some relative rightwinger of the time, a monetarist as opposed to a fiscalist.

Also, when Barry Goldwater ran for president -may he burn in hell- the Republicans' big thing was that deficit spending was bad, sort of on the live within your means conservative metaphor. But as Michael Perelman says, Reagan, the Goldwater-reactionary-come-to-power, was the biggest Keynesian ever, exceeding the deficit spending of all previous presidents back to Washington. So surely this "debt" doesn't really mean debt.

But now even the Chinese Communists are Keynesians. Goldwater knew deficit spending was communist all along.

Charles Brown

>>> Richard Marens

Charles Brown wrote:

> And when I was in college, I think it was my economics 101 textbook had a
>quote of some economist: "We are all Keynesians now."

wasn't that Richard Nixon?

More information about the lbo-talk mailing list