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"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 longe
by 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.