"The other economic camp made for quite a different story. James Tobin (an east-coast Ivy League policy advisor) had already won the Nobel Prize when I spoke with him. A true gentleman, he spoke softly about his life and his Keynesian approach to economics. With due respect, I worried after a time that the interview sounded so automatic, so “done” before, that it would add little to the book. Then I brought up Lucas’s criticism. Tobin began to speak much louder and faster (on transcribing the tape I actually had to adjust the volume). He remained reasonable and gentlemanly but his voice betrayed his indignation toward Lucas and his camp, about how they were misleading sensible Keynesian economic thought."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Original Language: English
Available Languages (1)
Sources
Ch. 1 : The strangeness of the discipline
https://en.wikiquote.org/wiki/Arjo_Klamer
Revision History
No revisions have been submitted for this quote.
Categories
Arjo Klamer
7 quotes on TrueQuotesView all quotes by Arjo Klamer →
Related Quotes
"Reciprocity is the basis of each relationship as long as the values to be exchanged are left open to interpretation. …"
"Money talk tends to be confusing. When people talk money, they usually think “wealth”, “costs”, “profit”, “income”, “…"
"A gift is the transfer of a good without an explicit specification of a quid pro quo. The good can be a tangible thin…"
"The euro is bad for Europe. The euro is bad for the Netherlands, it’s especially bad because it is a stimulus for pol…"
"When I tried to sort out the pernicious disagreements between new classical and new Keynesian economists, I conducted…"
"Arjo Klamer, a left wing professor has a rather ominous nickname, “Europe’s Mister Doom” for him, the implosion of th…"
"Private ownership, originally a means to give everybody the possibility of productive work, now has turned into the m…"
"In the present time production is dominated by capital. The capitalist, possessor of money, founded the factory, boug…"
"Labor is a social process. Each enterprise is part of the productive body of society. The total social production is …"
"Public ownership is a middle-class program of a modernized and disguised form of capitalism. Common ownership by the …"