Retrospectives: The Economics of Leon Hirsch Keyserling

The economics of Leon H. Keyserling influenced the Roosevelt era in terms of housing, agriculture, labor, and antitrust legislation. During the Truman era, discussed herein, Keyserling was influential as chair of the Council of Economic Advisors, stressing long-term growth, general and selective fiscal, monetary, and interest rate policies, and the view that economic growth, equity, and welfare are tied together via a full employment goal. Thus he was a liberal Keynesian and a pragmatist realizing that the keys to prosperity were consumption (wages) and investment (profits).