Thursday, June 05, 2008

Interesting combination of birthday’s today:

It's the birthday of economist Adam Smith, born in Kirkcaldy, Fife, Scotland (1723), a little fishing village with a busy seaport. Out the windows of his boyhood home, Smith could see all of that bustling activity, and he grew up to write an important book in the history of economics: The Wealth of Nations (1776), which said that market forces serve the public good, and that government regulation, for the most part, does not.

Today is also the birthday of the economist John Maynard Keynes, born in Cambridge, England (1883). He's best known for his book The General Theory of Employment, Interest and Money, published during the Great Depression in 1935. He argued that governments can correct severe depressions by spending lots of money, even if it means running a deficit, to put people back to work. Keynes's ideas greatly influenced Franklin D. Roosevelt's New Deal polices, and his ideas have been used to justify budget deficits ever since.

It's the birthday of Richard Scarry, born in Boston (1919). He's the author of more than 300 books for children. He said that what made him happiest as an author was receiving letters from people telling him that their copies of his books were all worn out, or were held together with Scotch tape.

From The Writer’s Almanac

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