Monday, October 31, 2011

"Weaponized Keynesians."

Paul Krugman: Republicans know government spending creates jobs; they say so every time there’s a chance military spending will be cut; they just don’t want you “to know what they know, because that would hurt their larger agenda — keeping regulation and taxes on the wealthy at bay.”

A few years back Representative Barney Frank coined an apt phrase for many of his colleagues: weaponized Keynesians, defined as those who believe “that the government does not create jobs when it funds the building of bridges or important research or retrains workers, but when it builds airplanes that are never going to be used in combat, that is of course economic salvation.”


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