Intellectuals and politicians often try to verbally summarize or justify conventional thinking in pithy ways. Milton Friedman (in 1965) and Richard Nixon (in 1971) both said different versions of the phrase “we are all Keynesians now.” . . . . Friedman and Nixon were describing the thoughts behind the implementation of Great Society redistribution programs and an inflationary monetary policy designed to offset the cost of those programs. — We Are All Keynesians Now, Brian Wesbury, Robert Stein of First Trust Advisors, 4/4/22 If there is one central myth supporting the folly that passes for monetary policy and by extension … Continue reading →
Intellectuals and politicians often try to verbally summarize or justify conventional thinking in pithy ways. Milton Friedman (in 1965) and Richard Nixon (in 1971) both said different versions of the phrase “we are all Keynesians now.” . . . . Friedman and Nixon were describing the thoughts behind the implementation of Great Society redistribution programs and an inflationary monetary policy designed to offset the cost of those programs. — We Are All Keynesians Now, Brian Wesbury, Robert Stein of First Trust Advisors, 4/4/22 If there is one central myth supporting the folly that passes for monetary policy and by extension … Continue reading →
