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Free Lunch: Easily Digestible Economics by David Smith

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10Keynes gets cooking

If the title of this chapter makes Keynes sound like a master chef, a showy magician might be more appropriate. Keynes weaved his spell over economics at a time when the subject was growing up into a mainstream area of study in universities. Time magazine named him the greatest economist of the twentieth century and, in truth, there were no other serious candidates to challenge him. For the past 80–90 years the economic debate has been dominated by Keynes, both by those who followed and developed his ideas and, as importantly, by those who sought to challenge them. When, after the September 11 2001 terrorist attacks on America, the Bush administration pushed a programme of tax cuts and additional government spending to head ...

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