27 Feb
John Maynard Keynes joins the board
They’re all Keynesians for now.
Faced with an economy reeling from the worst financial crisis since the Great Depression, executives at the Reuters Manufacturing Summit in Chicago this week largely backed the deficit spending spree lately embarked upon by the U.S. government.
It is an interventionist approach that owes much to John Maynard Keynes, the liberal economist who is not often championed in corporate boardrooms — a domain more normally ruled by conservative “hands-off” economic ideas.
But these are not normal times, which might also explain why some of the language used by executives at the summit would not have sounded out of place in a speech by President Barack Obama.
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