Supplement to John Maynard Keynes: Latin + Stimulus in Recession?

choi

I detour to tell you why there is an additional i in sapiens, which means knowing or being wise.

In my Apr 15, 2021 posting titled "        预览Caravaggio? + Latin," I has a Latin posting. THIS posting is identical up to (I)(c).


(I) Latin conjugation
https://en.wikipedia.org/wiki/Latin_conjugation
(a) Read the opening statement. I then explain quotations from this Wiki page. (Grammatically called a macron, the bar atop a vowel in Latin signifies a long vowel.)
(b) section 1 Number of conjugations: "Modern grammarians generally recognise four conjugations, according to whether their active present infinitive has the ending -āre, -ēre, -ere, or -īre (or the corresponding passive forms), for example: (1) amō [I love], amāre 'to love', (2) videō, vidēre 'to see,' (3) regō, regere 'to rule' and (4) audiō, audīre 'to hear.' There are also some verbs of mixed conjugation, having some endings like the 3rd and others like the 4th conjugation, for example, capiō, capere 'to capture.' "

From section 2 (see next), we know amō, meaning "I love," is "the first person singular of the present indicative active;" and amāre "to love" is "the present infinitive active" (the latter corresponding to "infinitive" in English grammar.
(c) section 2 Principal parts: "* * * The present indicative active and the present infinitive are both based on the present stem. * * * In a [Latin] dictionary, Latin verbs are listed with four 'principal parts' (or fewer for deponent and defective verbs), which allow the student to deduce the other conjugated forms of the verbs. These are:
1. the first person singular of the present indicative active
2. the present infinitive active
3. the first person singular of the perfect indicative active
4. * * *"
(d) section 5 Non-finite forms, section 5.4 Gerund: "The gerund is formed similarly to the present active participle. However, the -ns becomes an -ndus, and the preceding ā or ē is shortened [in pronunciation duration, to become a short vowel]. Gerunds are neuter nouns of the second declension * * * The gerund is a noun, meaning 'the act of doing (the verb)' * * * "

You need not know more about gerund in Latin. The takehome message is that in Latin, there is gerund.

(II) Magister Howard Chang, Lesson 30  Participles; Gerund. Mr Chang's Latin Honor II WordPress Page, February 2015.
https://latin2h.files.wordpress. ... latin-two-years.pdf
("Note[:] The present active participle is formed by adding the ending -ns to the present stem. However, in -iō the third conjugation verbs an i is inserted before the final e of the stem, and in fourth conjugation verbs an e is inserted before the -ns ending")

The examples given in this Web page are three Latin verbs: present active infinitive servāre  to keep (belonging to first conjugation verbs); capere  to take (belonging to third conjugation verbs); impedīre  to impede (belonging to fourth conjugation verbs). Correspondingly "the first person singular of the present indicative active" for them (the preceding three Latin verbs) are: servō (I keep, save), capiō (I take), and impediō (I impede).
(a) The term "in -iō the third conjugation verbs" is superfluous, in that third conjugation verbs always have "the first person singular of the present indicative active" ending in -iō.  
(b) In Latin, "present stem" is formed by dropping the last two letters (-re) of a verb. In this Web page, present stem of these three verbs are shown: servā, cape, and impedī.
(c) quotation from (II): "The present active participle is formed by adding the ending -ns to the present stem."
(i) In Latin, present active participle perform the same function as gerund (ending with -ing) in English.
(ii) In (II) also, the present active participle of the three verbs are shown: servāns, sapiēns, and impediēns.
(d) impediō (etymology: from in- into, in +‎ pēs foot +‎ -ō; literally, to "shackle the feet")
https://en.wiktionary.org/wiki/impedio

(e) Who is Chang?
(i) Citation for Magister Howard Chang JD
https://camws.org/awards/teaching_awards/chang.php
("Magister Chang is Department Chair and Upper School Coordinator at Flint High School in Oakton, VA. He teaches a range of Latin from beginning to AP [advanced placement; there is a Wiki page for it], managing a department of 5 FT [full-time] teachers")
(A) Magister Howard Chang is his name; JD his law degree.
(B) English does not have the word magister (see next), but adjective "magisterial" only.
https://www.merriam-webster.com/dictionary/magisterial
(C) Latin-English dictionary:
* magister (noun masculine): "master"
https://en.wiktionary.org/wiki/magister
   ^ The English noun master came ultimately from this Latin word.
(ii) Oakton, Virginia
https://en.wikipedia.org/wiki/Oakton,_Virginia

choi

Philip Delves Broughton, Cambridge Values; John Maynard Keynes was both a far-seeing economist and a shrewd investor, a savant who was undaunted by the churn of the markets. Wall Street Journal, Mar 30, 2021
("John Maynard Keynes is best remembered as an economist who made the case for governments to spend their way out of recessions")

What do neoclassical macroeconomists think of stimulus during recession? In a nutshell, they choose to do nothing. I am in this camp. Unfortunately economics can not do experiments side by side with control, so there is no way to know whether stimulus is needed, or its long-term effect (much like Coronavirus vaccines; we do not know how long the immunity will last, because these vaccines are new and observations necessarily short). And politicians can not stand the heat for appearing to do nothing -- eve though we tend to believe people in OTHER nations facing debt crises(such as Greeks in euro crisis) should adopt austerity measures, which are hard sells everywhere.

(1) Balancing Keynesian and Neoclassical Models. In Module 9: Keynesian and Neoclassical Economics, Macroeconomics. Lumen Learning, undated
https://courses.lumenlearning.co ... eoclassical-models/

Note:
(a) Boundless (company)
https://en.wikipedia.org/wiki/Boundless_(company)
(founded in 2011; is based in Boston, Massachusetts; "In May 2017, it was announced that Boundless course materials would not be available after September 2017. Lumen Learning archived the Boundless collection on the Lumen platform")
(b) There is a Wiki page for classical economics.

And there is a Wiki page for neoclassical economics.
https://en.wikipedia.org/wiki/Neoclassical_economics

Opposite is Keynesian economics (there is a Wiki page for that also).

(2) Neoclassical Fiscal Policy and Supply-Side Economics. In Module 11 Fiscal Policy, Macronomics. Lumen Learning, undated
https://courses.lumenlearning.co ... ply-side-economics/

(3) Noah Smith, Even Trump Is a Keynesian. Opponents claimed fiscal stimulus did nothing. Not only does the data say otherwise, but no one listened to them anyway. Bloomberg Opinion, Nov 18, 2016https://www.bloomberg.com/opinio ... rump-is-a-keynesian  
https://www.bloomberg.com/opinio ... rump-is-a-keynesian
("Noah Smith is a Bloomberg Opinion columnist. He was an assistant professor of finance at Stony Brook University, and he blogs at Noahpinion")

Note:
(a) In the subtitle, "no one listened to them anyway" -- the "they" refers to stimulus opponents, including neoclassical economists.
(b) I browse Noah Smith's latest commentaries, which support President Biden's stimulus and spending, and asks for more.

(4) Noah Smith, Tribal Warfare in Economics Is a Thing of the Past. For years, Keynesian, Austrian and other schools fought for intellectual dominance. That's over. Bloomberg Opinion, Jan 11, 2017.
https://www.bloomberg.com/opinio ... a-thing-of-the-past



````````````````Separately
(1) quantitative easing
https://en.wikipedia.org/wiki/Quantitative_easing  
("The term "quantitative easing" was coined by German economist Richard Werner in 1995[3] in the context of the Japanese crisis")

Note:
(a) Reference 3 is
"Richard A Werner (1995), Keiki kaifuku, ryōteki kinyū kanwa kara (How to Create a Recovery through 'Quantitative Monetary Easing'), The Nihon Keizai Shinbun (Nikkei), 'Keizai Kyōshitsu' ('Economics Classroom'), 2 September 1995 (morning edition), p 26; English translation by T John Cooke (November 2011)."
(i) Keiki kaifuku 景気回復
(ii) ryōteki kinyū kanwa  量的金融緩和
(A) The teki is Chinese pronunciation of kanji 的 (whose meaning is the same in Japan as in China).
(B) 量的・質的金融緩和   quatitative and qualitative  easing
(iii) kara から (preposition): "from"
(iv) Nihon Keizai Shinbun  日本経済新聞
(iv) Keizai Kyōshitsu  経済教室
(b) Richard Werner
https://en.wikipedia.org/wiki/Richard_Werner
(1967- ; BSc in economics at London School of Economics, DPhil in economics from Oxford in 1991(

The German surname Werner is "from a personal name composed of the Germanic elements war(in) guard + heri, hari army."

(2) Lisa Smith, Quantitative Easing: Does It Work?  Investopredia, updated Mar 24, 2021
https://www.investopedia.com/art ... titative-easing.asp  
("Whether quantitative easing works is a subject of considerable debate. * * * This process is often referred to as 'printing money,' even though it's done by electronically crediting bank accounts and it doesn't involve printing")

Note: Clicking author's name leading to a new Web page about the author: "Lisa Smith is a freelance writer and editor * * * She herself has been an expat for over 15 years living and working from Bali, Indonesia, away from her original home in London."

It does not say what degree she had in what.