Mises Wire

A
A
Home | Blog | Keynesian Economics: Better Late Than Never

Keynesian Economics: Better Late Than Never

February 15, 2008
Bond guru Bill Gross - of Pimco - on resurrecting Keynes and the New Deal:

As Keynes theorized and then Krugman affirmed, when private demand falters, it becomes the responsibility of government to fill the breach. Because it likely will not do so effectively until after a new Administration is elected in late 2008, the U.S. economy and its somewhat coupled global companion will sleep walk for some time and a resumption of prosperity as we knew it will be dependent on reforms of monetary and fiscal policy resembling the 1930s more than our past decade. Better late than never.

Follow Mises Institute

Add Comment