Unfortunately, several decades of Keynesian instruction on the virtues of budget deficits have left the public and our political leaders confused abo… - Martin Feldstein

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Unfortunately, several decades of Keynesian instruction on the virtues of budget deficits have left the public and our political leaders confused about the costs of running persistent deficits. [...] Keynes has been that influential defunct scribbler for the past generation. But who would ever have thought that the politician hearing Keynes's voice in the air might be Ronald Reagan

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About Martin Feldstein

Martin Stuart "Marty" Feldstein (November 25, 1939 – June 11, 2019) was an American economist, the George F. Baker Professor of Economics at , and the president emeritus of the National Bureau of Economic Research (NBER). From 1982 to 1984, Feldstein served as chairman of the Council of Economic Advisers and as chief economic advisor to President Ronald Reagan (where his views clashed with Reagan administration large military expenditure policies).

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Native Name: Martin Stuart Feldstein
Alternative Names: Martin S. Feldstein
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Additional quotes by Martin Feldstein

Thanks to the work of John Maynard Keynes and of Milton Friedman, we now have a better understanding of how governments can (at least in principle) reduce the severity of major economic downturns. Keynesian economics taught us that government spending can raise GDP and reduce unemployment.
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