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An initial "Keynesian illness"? : Friedman on taxation and the inflationary gap

By: Levrero, Enrico Sergio.
Material type: ArticleArticlePublisher: 2018Subject(s): FRIEDMAN, MILTON | PENSAMIENTO FISCAL | IMPUESTOS | INFLACION | GASTO PUBLICOOnline resources: Click here to access online In: Cambridge Journal of Economics v. 42, n. 5, September 2018, p. 1219-1237Summary: This paper examines Friedman’s writings in the years 1941–43 and compares them with those after the war with a view to assessing differences and similarities. Albeit a first assessment, Friedman’s claim that he was suffering from a ‘Keynesian illness’ in his ‘Washington phase’ appears to have been less ‘serious’ and deep than he himself feared, although he was to some extent influenced by the ‘prevailing Keynesian temper of the time’.
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This paper examines Friedman’s writings in the years 1941–43 and compares them with those after the war with a view to assessing differences and similarities. Albeit a first assessment, Friedman’s claim that he was suffering from a ‘Keynesian illness’
in his ‘Washington phase’ appears to have been less ‘serious’ and deep than he himself feared, although he was to some extent influenced by the ‘prevailing Keynesian temper of the time’.

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