"The only disagreement among economists is whether Burns fully understood the mistakes he was making, or was so wedded to incorrect Keynesian theories that he didn't realize what he was doing. The only alternative is that he was under irresistible political pressure from Nixon and had no choice. Neither explanation is very favorable to Burns. Economists now recognize the Nixon era as Exhibit A in how the adoption of bad economic policies in pursuit of short-term political gain eventually turns out to be bad politics as well."
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Academics from the United StatesEconomists from the United StatesBusiness theorists from the United StatesChairs of the Council of Economic AdvisorsChairs of the Federal Reserve
Original Language: English
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Sources
Bruce Bartlett (2006). Impostor: How George W. Bush Bankrupted America and Betrayed the Reagan Legacy. New York: Doubleday. p. 147.
https://en.wikiquote.org/wiki/Arthur_F._Burns
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Arthur F. Burns
Arthur Frank Burns (August 27, 1904 – June 26, 1987) was an American economist. His career alternated between academia and government. From 1927 to the 1970s, Burns taught and researched at , , and the .
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