“I would guess that most MIT Ph. D.’s since 1980 might deem themselves not to be “Keynesians.” But they, and modern economists everywhere, do use models like those of Samuelson, Modigliani, Solow, and Tobin. Professor Martin Feldstein, my Harvard neighbor, complained at the 350th Anniversary of Harvard that Keynesians had tried to poison his sophomore mind against saving. Tobin and I on the same panel took this amiss, since both of us since 1955 had been favoring a “neoclassical synthesis,” in which full employment with an austere fiscal budget would add to capital formation in preparation for a coming demographic turnaround.”

— Paul A. Samuelson

New millennium, An Interview with Paul A. Samuelson, 2003

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Paul A. Samuelson 47

American economist 1915–2009

Robert Motherwell (1915–1991) American artist

'Oral history interview with Robert Motherwell', 1971 Nov. 24 - 1974 May 1, Archives of American Art, Smithsonian Institution
after 1970

“Colander: What’s your view of the New Keynesian approach?
Tobin: I’m not sure what that means. If it means people like Greg Mankiw, I don’t regard them as Keynesians. I don’t think they have involuntary unemployment or absence of market clearing. It is a misnomer to call Mankiw any form of Keynesian.
Colander: How about real-business-cycle theorists?
Tobin: Well, that’s just the enemy.”

David Colander (1947) American economist

David Colander, "Conversations with James Tobin and Robert J. Shiller on the “Yale Tradition” in Macroeconomics", Macroeconomic Dynamics (1999), later published in Inside the economist’s mind: conversations with eminent economists (2007) edited by Paul A. Samuelson and William A. Barnett.
1990s

“Today, Keynesian theorizing does not inspire whispers and giggles from the audience. There are many economists under the age of forty who do not take offense when their work is called ‘Keynesian’, and I count myself as one of them. If Keynesian economics was dead in 1980, then today it has been reincarnated.”

N. Gregory Mankiw (1958) American economist

N. Gregory Mankiw, "The reincarnation of Keynesian economics", European Economic Review (1992).
1990s

“I know of no title that I deem more honorable than that of Professor of the Harvard Law School.”

Felix Frankfurter (1882–1965) American judge

Of Law and Life and Other Things: Papers and Address of Felix Frankfurter (1965).
Other writings

“From the late 1940s until the early 1960s, events seemed to prove the Keynesians correct. Then, beginning in the 1960s, several distinguished economists began to challenge Keynesian ideas. Their counterrevolutionary views, which in many ways mirrored those of the classical economists, were strengthened by events in the 1970s, when the economy’s behavior began to contradict some Keynesian ideas. But in 2008 and 2009, as the economy sank into the most serious worldwide recession since the Great Depression, Keynesian ideas were once again at the center of a heated debate about the causes of the problem and the appropriate remedies.”

Robert Hall (economist)

Robert E. Hall and Marc Lieberman, Macroeconomics (2012).

“Lucas and Sargent’s main argument was that Keynesian economics had ignored the full implications of the effect of expectations on behavior. The way to proceed, they argued, was to assume that people formed expectations as rationally as they could, based on the information they had. Thinking of people as having rational expectations had three major implications, all highly damaging to Keynesian macroeconomics. …
The first implication was that existing macroeconomic models could not be used to help design policy. … The second implication was that when rational expectations were introduced in Keynesian models, these models actually delivered very un-Keynesian conclusions. … The third implication was that if people and firms had rational expectations, it was wrong to think of policy as the control of a complicated but passive system. Rather, the right way was to think of policy as a game between policy makers and the economy. …
To summarize: When rational expectations were introduced, Keynesian models could not be used to determine policy; Keynesian models could not explain long-lasting deviations of output from the natural level of output; the theory of policy had to be redesigned, using the tools of game theory.”

Olivier Blanchard (1948) French economist

Source: Macroeconomics (7th Edition, 2017), Ch. 24 : Epilogue: The Story of Macroeconomics

“I guess everyone is a Keynesian in a foxhole.”

Robert Lucas Jr. (1937) American economist

Robert E. Lucas, to Justin Fox, quoted in Bob Lucas on the comeback of Keynesianism http://business.time.com/2008/10/28/bob-lucas-on-the-comeback-of-keynesianism/ (2008).

“I’ve been in the business since I was 16, so I’ve had a 14-year career. I’ve always had acting in my blood. Doing this, whatever it is, was something I was drawn to since my earliest memories. Ironically, I lived in Hollywood, but never understood that all it took was getting an agent and being persistent.”

Leonardo DiCaprio (1974) American actor and film producer

http://www.popmonk.com/actors/leonardo-dicaprio/quotes-leonardo-dicaprio.htm

“Nobody has tried to swallow us since I've been here. I think they are afraid how we would taste.”

Steve Jobs (1955–2011) American entrepreneur and co-founder of Apple Inc.

At the annual Apple shareholder meeting (22 April 1998)
1990s

“But I guess you would look beatific, too, if the man you had been in love with since the fifth grade had told you that he was in love with you, too.”

Meg Cabot book Teen Idol

Source: Teen Idol

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