Rolf Englund blog
Most economists do not know that Chicago was Keynesian before Keynes)
I think everyone knows that for some years the Japanese economy has been very sluggish. In response to this situation a number of eminent economists suggested the usual Keynesian nostrum of spend, spend and spend. As expected, Krugman was one of them — as was Milton Friedman. (Most economists do not know that Chicago was Keynesian before Keynes). Friedman claimed that Japan could climb out of recession by inflating the money supply. According to Friedman the answer lay with the central bank.
By Gerard Jackson, BrookesNews.Com
Monday 11 September 2006
Read more here
I think everyone knows that for some years the Japanese economy has been very sluggish. In response to this situation a number of eminent economists suggested the usual Keynesian nostrum of spend, spend and spend. As expected, Krugman was one of them — as was Milton Friedman. (Most economists do not know that Chicago was Keynesian before Keynes). Friedman claimed that Japan could climb out of recession by inflating the money supply. According to Friedman the answer lay with the central bank.
By Gerard Jackson, BrookesNews.Com
Monday 11 September 2006
Read more here
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