We are all Keynesians now (including Ronald Reagan)

The New York Times has a surprisingly fun interactive feature on the American government's responses to various recessions, narrated by various economists. The highlight is Jeff Frankel of Harvard's argument that the '81-'82 recession was eased by Ronald Reagan's expansionary fiscal policies, which Frankel calls "Keynesian in consequence, if not in design":

Even though it wasn't done under a Keynesian banner or with Keynesian intention, it did have Keynesian effects, and it did help pull us out of the recession of 1981-82.
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Conor Clarke is the editor, with Michael Kinsley, of Creative Capitalism. He was previously a fellow at The Atlantic and an editor at The Guardian. More

Conor Clarke is the editor, with Michael Kinsley, of Creative Capitalism, an economics blog that was recently published in book form by Simon and Schuster. He was previously a fellow at The Atlantic and an editor at The Guardian. He is also on Twitter.

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