"Economics is a difficult subject, because we cannot conduct controlled experiments. There are not two or three Argentina's, one following the experiment that I described above, and another adopting the policies that I prefer. But we do have a wealth of experience from which to draw inferences. This wealth of experience all points in one direction: Keynes's teachings are still very much alive, and Argentina today would be in far better shape if his lessons had been taken to heart."
Joseph E. Stiglitz

January 1, 1970

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Original Language: English