Are We All Keynesians?

Dec 15, 2009 • 238 Views

According to the Yardeni newsletter, in 1965, A Time Magazine cover story was titled, “The Economy, We Are All Keynesians Now”. Even Milton Friedman was quoted as saying, “We are all Keynesians now.” (which he later corrected as having been, “In one sense, we are all Keynesians now; in another, nobody is any longer a Keynesian.”) Lyndon Johnson’s Budget Director, Charles L. Schultze said, “We can’t prevent every little wiggle in the economic cycle, but we now can prevent a major slide.

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