saltwater

merivesi New Keynesian or Keynesian, in reference to macroeconomics and economics departments on the East Coast and West Coast of the United States of America.
2004, Arnold Kling, Learning Economics, Xlibris (1st ed.), ISBN 1462834205, page 29.

Sweetwater and Saltwater economists tend to differ on policy issues.

These findings suggest that the divide between fresh and saltwater departments has all but disappeared. The ideological battle is over.

Despite their often heated debates, saltwater and freshwater economists agreed on one fundamental point: that macroeconomic analysis must be based on the foundations of neoclassical microeconomics.

In the US, economists were said to be from sweetwater departments – from Chicago and Minnesota, where they were new classical – and from saltwater departments – MIT, Harvard and Yale, where they continued to be Keynesians who did not concede the ground totally to the new classical economists.

A tax rate of say, 91 per cent – as suggested by the very saltwater Nobel Prizewinner, economist Paul Krugman – would force Americans to hand over a much larger proportion of their income than most are comfortable with.