Lawrence Klein
American economist (1920-2013)
The numbers
2 + 6 = 8
Lo Shu grid
Missing: 3, 5, 7. Present digits repeat to show how many times they occur.
Life path 8 — The Executive
Eight is the number of material consequence — authority, money, scale, the machinery that makes things actually happen. Tradition reads it as unusually comfortable with leverage and unusually clear-eyed about what things cost. It carries the sharpest warning of the nine: 8 is described as the number most able to build something large and most able to be consumed by it, with the reading turning on whether the power is aimed at anything beyond itself.
Complete lines
Cooperation
A complete line in the grid.
Responsibility
A complete line in the grid.
Organisation
A complete line in the grid.
Care
A complete line in the grid.
What is missing
Missing 3
Read as difficulty getting the inner picture out — the thought is complete, the expression lags. Often described in people whose written voice is far stronger than their spoken one.
Missing 5
The centre of the grid, so its absence is weighted heavily. Read as difficulty adapting mid-course — a preference for the plan already chosen over the plan now indicated.
Missing 7
Read as reluctance to sit with an unresolved question. Associated with wanting the working answer rather than the true one.
Vedic — Ank Jyotish
Moolank 5 comes from the day of the month alone; Bhagyank 8 from the whole date. They differ, which is the ordinary case — the two numbers answer different questions.
Budha
Mercury. Intellect, commerce, speech. Read as quickness and adaptability.
Bhagyank uses the same arithmetic as the Western life path, so the two will always agree. That is not two traditions confirming each other — it is one calculation under two names.
In their words
In the past few years there has grown up a large group of young economists who have accepted the theoretical doctrines of the Keynesian Revolution and who have come into national prominence through their support of an economic policy of full employment.
From Keynes' point of view the economic system, before the war failed in its solution of the unemployment problem
People say monetary policy is easy and quick to implement. It can even be done overnight on the telephone, they say fiscal policy drags out in political and congressional debate in our country. It might take months to implement. But the point is that once fiscal policy is implemented, it might go to work much faster than monetary policy.
I think the Kennedy-Johnson tax cut was a marvelous success in 1964. It was too bad it was not implemented a little sooner, and Kennedy died, of course. After that, Johnson dallied for a while about raising taxes to pay for the war in Vietnam. The stimulus did not get reversed until the tax increase and expenditure cap of 1969, and that had a quick effect once it was enacted. As you know, we had a recession in 1969–1970.
There are many reasons there was higher inflation in the 1970s. But that is a complicated story that deals with much more than tax policies.
Balancing fiscal and monetary policies is a problem. If you do just one thing, it is not necessarily enough—neither monetary policy alone nor fiscal policy alone, and neither tax cuts nor expenditure increases alone. You need to mix policy. By having the right balance, you can get high employment and stable prices.
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