Krugman:
Talk with Barack Obama, and you’ll find that he has a basically
Keynesian view of the world. It may have wobbled a bit in the past, at
times when he seemed to buy into the Confidence Fairy, but it’s still
his basic outlook — and his aides are very much IS-LM macro types. True,
they haven’t gone all out to push for fiscal expansion in the face of
opposition (but remember the payroll tax cut), but that’s mainly a
political judgement on their part. It’s not a fundamental difference in
worldview from friendly economists.
Barak presided over the most dismal growth period in recent history and is the most unpopular president in the post war period. So, if that is Keynes, no thanks.
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