"I was at a meeting where Buchanan was speaking just a couple of weeks after his prize was announced. It was a meeting on Keynes on the golden anniversary of the General Theory –there are endless anniversaries these days. Speaking before Buchanan, I predicted that he would blame Reagan's deficits on Keynes. And sure enough, he did."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Original Language: English
Available Languages (1)
Sources
James Tobin, "Concluding remarks" in James Tobin et al., eds. Money, macroeconomics, and economic policy: essays in honor of James Tobin (1991)
https://en.wikiquote.org/wiki/Democracy_in_Deficit
Revision History
No revisions have been submitted for this quote.
Categories
Democracy in Deficit
15 quotes on TrueQuotesView all quotes by Democracy in Deficit →
Related Quotes
"John Maynard Keynes was a speculator, in ideas as well as in foreign currencies, and his speculation was scarcely idl…"
"We reject this set of blindfolds. We step back one stage, and we try to observe the political along with the economic…"
"Keynes was not a democrat, but, rather, looked upon himself as a potential member of an enlightened ruling elite. Pol…"
"What happened? Why does Camelot lie in ruin? Viet Nam and Watergate cannot explain everything forever. Intellectual e…"
"Without Keynes, government budgets would have become unbalanced, as they did before Keynes, during periods of depress…"
"Unfortunately for Buchanan and Wagner’s story, Keynes was not a proponent of “continuing and increasing budget defici…"
"The most insidious attack on Keynes was probably James Buchanan and Richard Wagner's book, Democracy in Deficit: The …"
"Then the question comes along: Why didn't we have deficits before? You see the Keynesian economic revolution gave the…"
"Buchanan’s idea is useful as an argument against passing permanent deficit increases during a recession. To use it as…"
"There is a widespread tendency to portray Keynes as the founding father of the Welfare State and to claim that the Ke…"