"Lucas's name, unlike Friedman's, is hardly a household word. He is neither a prolific writer nor easy to read; although he can write clear, forceful English when he chooses, he prefers to express himself through dense mathematics, leaving it to others to popularize his ideas. Where Friedman used his academic notoriety as a stepping stone to a wider public role, Lucas has in recent years seemed to retreat to safe, increasingly technical issues of theoretical economics. And yet for most of the 1970s there was little question that Robert Lucas was having more impact on economic thought, both through his own writings and through the extraordinary devotion of his intellectual disciples, than any other working economist. Above all, he became identified with a much stronger form of Friedman's argument against active monetary policy. Where Friedman argued that such policy would in practice do more harm than good, Lucas argued that in principle it could do nothing but harm."
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Academics from the United StatesNobel laureates from the United StatesEconomists from the United StatesPeople from Washington (state)Nobel laureates in Economics
Original Language: English
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Sources
Paul Krugman, Peddling Prosperity (1994), Ch. 1 : The Attack on Keynes
https://en.wikiquote.org/wiki/Robert_Lucas_Jr.
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Robert Lucas Jr.
Robert Emerson Lucas, Jr. (September 15, 1937 – May 15, 2023) was an American economist at the , who received the Nobel Prize in Economics in 1995. He is widely regarded as the central figure in the development of the new classical approach to macroeconomics.
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