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Real Keynesians understand imbalanced trade

…Keynesian economics from an introductory economics textbook. Unlike real Keynesians they do not understand trade deficits. For example, Obama’s primary economic advisors Lawrence Summers and Timothy Geithner think that one…

May 31, 1889

…spend their summers away from the heat and dirt of bustling Pittsburgh. Ruff owned an abandoned reservoir on Pennsylvania’s Little Conemaugh River in southwestern Pennsylvania. The reservoir had been created…