3 ms·
Nitpick - I'm pretty sure Friedman never said "we are all Keynesians now," I think it was Nixon who said it (much to Friedman's dismay).
by mosburger 17y ago
Nitpick - I'm pretty sure Friedman never said "we are all Keynesians now," I think it was Nixon who said it (much to Friedman's dismay).
- trevelyan 17y ago"In one sense, we are all Keynesians now; in another, no one is a Keynesian any longer.... we all use the Keynesian language and apparatus; none of us any longer accepts the initial Keynesian conclusions" (Friedman 1968). Reference: http://www.auburn.edu/~garriro/fm2friedman.htm http://www.auburn.edu/~garriro/fm2friedman.htm Nixon also said something like this, but he was paraphrasing Friedman.