Economists Are Generally Negligent Of Their Heroes.

There Can Be No Question, However, That Prolonged Commitment To Mathematical Exercises In Economics Can Be Damaging. It Leads To The Atrophy Of Judgement And Intuition. . .

Broadly Speaking, Keynesianism Means That The Government Has A Specific Responsibility For The Behavior Of The Economy, That It Doesn't Work On Its Own Autonomous Course, But The Government, When There's A Recession, Compensates By Employment, By Expansion Of Purchasing Power, And In Boom Times Corrects By Being A Restraining Force. But It Controls The Great Flow Of Demand Into The Economy, What Since Keynesian Times Has Been The Flow Of Aggregate Demand. That Was The Basic Idea Of Keynes So Far As One Can Put It In A Couple Of Sentences.

There's No Question That In My Lifetime, The Contrast Between What I Called Private Affluence And Public Squalor Has Become Very Much Greater. What Do We Worry About? We Worry About Our Schools. We Worry About Our Public Recreational Facilities. We Worry About Our Law Enforcement And Our Public Housing. All Of The Things That Bear Upon Our Standard Of Living Are In The Public Sector.

Franklin Delano Roosevelt And J.f Kennedy Were Presidents In Very Different Times.

It Was Herbert Spencer, Not Charles Darwin, Who Coined The Phrase Survival Of The Fittest.