US Presidents' Reading Habits

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What might Adam Smith claim about his devotion to moral economy?

He was appalled at sub-prime loans to fiscally insecure people.

How might Marx react to modern financial capitalism?

He would take pleasure in its foundering on its contradictions.

What might Schumpeter lecturing us about the current economic crisis?

The necessity of swallowing another decade of serious depression.

What might Keynes be uneasy about in the current economic situation?

<p>The allocation of more money to buying bad debts than investing in job creation.</p> Signup and view all the answers

What is a concern about the proposed US Treasury plan?

<p>Who will purchase the $1,750bn of US Treasuries to be offered to the market this year.</p> Signup and view all the answers

What is a primary concern for Keynes regarding the US Treasury's proposal?

<p>The uncertainty about who will purchase the $1,750bn of US Treasuries</p> Signup and view all the answers

What is a likely consequence of the US Treasury's plan, according to the passage?

<p>The US will plunge into unprecedented levels of indebtedness</p> Signup and view all the answers

What is implied about the economic situation of the east Asian quartet?

<p>They are experiencing catastrophic collapses in production</p> Signup and view all the answers

What is a possible consequence of the current economic crisis, according to Schumpeter?

<p>A decade of serious depression before a newer, leaner form of capitalism emerges</p> Signup and view all the answers

What is a characteristic of Marx's response to the current economic crisis, according to the passage?

<p>He is still reeling from the perversion of his theories by Lenin and Stalin</p> Signup and view all the answers

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