Quotation of the Day…

by Don Boudreaux on August 28, 2011

in State of Macro

… is from Jim Buchanan‘s 1987 essay “Keynesian Follies,” reprinted in Vol. 1 of Jim’s Collected Works (pp. 164-178):

Folly is defined as (1) lack of good sense or of normal prudence, (2) inability or refusal to accept existing reality or to foresee inevitable consequences.  Both of these definitions convey something of the policy stance that I associate with the term Keynesian.


62 comments    Share Share    Print    Email

Previous post:

Next post: