“Thanks to the work of John Maynard Keynes and of Milton Friedman, we now have a better understanding of how governments can (at least in principle) reduce the severity of major economic downturns. Keynesian economics taught us that government spending can raise GDP and reduce unemployment.”

"Economic Conditions and U.S. National Security in the 1930s and Today" (2009).

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Martin Feldstein 9
American economist 1939–2019

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