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.
Presented by

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.

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register with Disqus.

Please note that The Atlantic's account system is separate from our commenting system. To log in or register with The Atlantic, use the Sign In button at the top of every page.

blog comments powered by Disqus

Video

The Absurd Psychology of Restaurant Menus

Would people eat healthier if celery was called "cool celery?"

Video

This Japanese Inn Has Been Open For 1,300 Years

It's one of the oldest family businesses in the world.

Video

What Happens Inside a Dying Mind?

Science cannot fully explain near-death experiences.

Video

Is Minneapolis the Best City in America?

No other place mixes affordability, opportunity, and wealth so well.

More in Politics

Just In