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Are We All Keynesians (Again)?

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Author Info
Dimitri B. Papadimitriou
L. Randall Wray

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Abstract

It is now widely recognized that economists and policymakers alike had been living a 30-year fantasy. The best government is not that which governs least. The best economy is not that which is abandoned to the invisible fist of the unconstrained market. Our national and individual security is not best left to the fate of the private pursuit of maximum profit. The events of September 11 underscored what was already apparent: Big Government needs to play a bigger role in our economy. Our late Levy Institute colleague Hyman Minsky has been vindicated once more.

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Paper provided by Levy Economics Institute, The in its series Economics Policy Note Archive with number 01-10.

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Handle: RePEc:lev:levypn:01-10

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This paper has been announced in the following NEP Reports: References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. James K. Galbraith, . "The War Economy," Economics Policy Note Archive 01-8, Levy Economics Institute, The. [Downloadable!]
  2. Robert E. Carpenter, . "Hard Times, Easy Money? Countercyclical Stabilization in an Uncertain Economy," Economics Policy Note Archive 01-9, Levy Economics Institute, The. [Downloadable!]
  3. L. Randall Wray, . "The Backward Art of Tax Cutting," Economics Policy Note Archive 01-5, Levy Economics Institute, The. [Downloadable!]
  4. Wynne Godley, . "Fiscal Policy To The Rescue," Economics Policy Note Archive 01-1, Levy Economics Institute, The. [Downloadable!]
  5. Dimitri B. Papadimitriou & L. Randall Wray, . "Fiscal Policy For the Coming Recession: Large Tax Cuts are Needed to Prevent a Hard Landing," Economics Policy Note Archive 01-2, Levy Economics Institute, The. [Downloadable!]
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  1. Wynne Godley, . "Kick-Start Strategy Fails to Fire Sputtering U.S. Economic Motor," Economics Policy Note Archive 02-1, Levy Economics Institute, The. [Downloadable!]
  2. Dimitri B. Papadimitriou & L. Randall Wray, 2003. "Understanding Deflation: Treating the Disease, Not the Symptoms," Economics Working Paper Archive 392, Levy Economics Institute, The. [Downloadable!]
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