Martin Feldstein

"A critical feature of the EU in general and EMU in particular is that there is no legitimate way for a member to withdraw... The American experience with the secession of the South may contain some le…"

"Although 50 years of European peace since the end of World War II may augur well for the future, it must be remembered that there were also more than 50 year of peace between the Congress of Vienna an…"

"The legacy of Keynesian economics — the misdiagnosis of unemployment, the fear of saving, and the unjustified faith in government intervention — affected the fundamental ideas of policy makers for a g…"

"What is clear is that a French aspiration for equality and a German expectation of hegemony are not consistent."

"Thanks to the work of John Maynard Keynes and of Milton Friedman, we now have a better understanding of how governments can reduce the severity of major economic downturns. Keynesian economics taught …"

"Unfortunately, several decades of Keynesian instruction on the virtues of budget deficits have left the public and our political leaders confused about the costs of running persistent deficits. Keynes…"

"But further analysis and experience soon raised doubts about the efficacy of these new tools. Empirical research indicated that the Keynesian multiplier was much smaller than earlier analyses had assu…"

"Instead of increasing intra-European harmony and global peace, the shift to EMU and the political integration that would follow it would be more likely to lead to increased conflicts within Europe."