I would put them all in the shoulders of Keynes.
NARRATOR: Governments, said Keynes, should spend against the wind.
Keynes was writing about an absolute "fall in prices relative to costs," during deflation.
It dates back to Keynes, one of the few economists whose reputation has been Burnished by the crisis.
In Keynes model, investment decided by the rate of discount which capital asset's expected earning convert into present value, and analyses financial trade as an uncertain economic action.
The new, cheerful social science that Marshall pioneered and Keynes and others innovated was a genuine revolution in human thinking that changed the lives of everyone on the globe.
THE credit crisis was kind to the reputation of John Maynard Keynes, whose scribbling s from over 70 years ago inspired practical men of action to fight the recession with uninhibited stimulus.
However,with the sustained fall in the general price level,that expansionary effect on the general demand will change to affect the general demand negatively by the direction changing of Pigou-effect,Keynes-effect and the restriction of Mundel-Fleming-effect.
I do think it's useful to read Keynes.
The gold standard — which John Maynard Keynes termed a “barbarous relic” — led to ruinous deflations.
They have drawn on the ideas and research of Keynes from the 1930s, of Friedman and Schwartz in the 1960s, and of many others.
As Keynes famously observed, "you can't push on a string" -quantitative easing is more likely to generate asset bubbles and currency turmoil than employment.
For a long time, the study to Keynes in the academic circles of our country is mainly on his theory of effective demand, which is the general line and key of Keynes's economics.
Keynes, though, could never explain exactly what the mechanism was.
Random thought of the day: what if Lord Keynes was right . . . but only in 1932?
"Only what Keynes called" animal spirits, "or the" urge to action, "will persuade businessmen to embark on such a sea of uncertainty."
凯恩斯(John Maynard Keynes)在20世界40年代就意识到这一点，他提议建立一个全球*清帐银行，其目的是对顺差国家收取税额甚至把顺差充公。
John Maynard Keynes used somewhat gnomic utterances in his General Theory.
The economist J. M. Keynes once remarked that those economists who disliked theory, or claimed to get along better without it, were simply in the grip of an older theory.
But the world is no longer as Keynes described it.
So Keynes whimsically suggested an alternative: have the government bury bottles full of cash in disused coal mines, and let the private sector spend its own money to dig the cash back up.
To deal with this preference, Keynes whimsically suggested burying bottles full of cash in disused mines and letting the private sector dig them back up.
His advice Bridges Fisher and Keynes.
Then the fiscal conservatives led by Andrew Mellon and Irving Fisher were confronted by rebels led by John Maynard Keynes.
