Classifier Instance:

Anchor text: Robert Lucas
Target Entity: Robert_Lucas\u002c_Jr\u002e
Preceding Context: Friedman suggested that sustained Keynesian policies could lead to both unemployment and inflation rising at once – a phenomenon that soon became known as stagflation. In the early 1970s stagflation appeared in both the US and Britain just as Friedman had predicted, with economic conditions deteriorating further after the 1973 oil crisis. Aided by the prestige gained from his successful forecast, Friedman led increasingly successful criticisms against the Keynesian consensus, convincing not only academics and politicians but also much of the general public with his radio and television broadcasts. The academic credibility of Keynesian economics was further undermined by additional criticism from other Monetarists trained in the Chicago school of economics, by the Lucas Critique and by criticisms from Hayek's Austrian School. So successful were these criticisms that by 1980
Succeeding Context: was saying economists would often take offence if described as Keynesians.
Paragraph Title: null
Source Page: John Maynard Keynes

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