Tuesday, November 22, 2011
Posted by dkuehn at 6:13 AM
Also from that speech:
"When I was in the White House, I used to bristle when people would say I was a Keynesian economist. They acted as if I believed that fiscal stimulus mattered because of some theoretical book written in 1936, or because of what I was taught in graduate school. I used to say that I am not a Keynesian economist, I am an empirical economist. I believe what I do because of the empirical evidence."
Except (1.) I don't bristle because I find that old book and several other old books of his to be some of the most insightful books I've read, and (2.) most of my empirical work is elsewhere... but I'm on board with the sentiment.