All Posts Tagged With: "deficit spending"
Shame on You, Paul Krugman
We are certainly used to the fallacious Keynesian “economics” that pours forth from most of Paul Krugman’s New York Times columns. That’s bad enough. But dishonesty too? What’s the excuse for that? In a recent column called “Fifty Herbert Hoovers,” Krugman expressed fear that the nation’s governors would follow in the footsteps of Hoover, with [...]
5Jan2009 | Sheldon Richman | 7 comments | ContinuedJohn Maynard Keynes: The Damage Still Done by a Defunct Economist
Seventy years ago, on February 4, 1936, the English economist John Maynard Keynes (1883–1946) published what soon became his most famous work, The General Theory of Employment, Interest, and Money. Few books, in so short a time, have gained such wide influence and generated so destructive an impact on public policy. What Keynes succeeded in [...]
1May2006 | Richard M. Ebeling | 40 comments | ContinuedGovernment, Fiscal Responsibility, and Free Banking
Richard Ebeling is the president of FEE. This paper was delivered at a conference on “One Hundred Years of Dollarization, or a Century without a Central Bank: The Case of Panama,” sponsored by Fundación Libertad in Panama City, Panama, on November 12, 2004. There has been no greater threat to life, liberty, and property throughout [...]
1Feb2005 | Richard M. Ebeling | 1 comment | ContinuedHenry Hazlitt and the Failure of Keynesian Economics
For four decades, from the mid-1930s to the 1970s, Keynesian economics almost monopolized economic policy in the United States and around the world. The “new economics,” as it was called, was going to assure mankind economic stability, full employment, and material prosperity—all through wise government management of monetary and fiscal policy. So dominant was this [...]
1Nov2004 | Richard M. Ebeling | 40 comments | ContinuedDeficits Do Matter
Hans Sennholz served as president of the Foundation for Economic Education from 1992 to 1997. At the time of his retirement, FEE’s Board of Trustees honored him with the title president emeritus. He was chairman of the department of economics at Grove City College for many years. This article is reprinted from the December 1986 [...]
1Mar2004 | Hans F. Sennholz | 8 comments | ContinuedPostconstitutional America?
It’s a cliché that in time of war we must shift the balance between liberty and security, sacrificing some freedom to protect our society from assault. Funny how we blithely forget other fond adages when they become unfashionable, such as Benjamin Franklin’s famous warning about trading freedom for security. It is more important than ever [...]
1Feb2003 | Sheldon Richman | 0 comments | ContinuedChina’s Flirtation with Keynesian Economics
China’s economy has made enormous progress since modernization began in 1978 under the direction of Deng Xiaoping. However, while no one expects the transition from communism toward market-based economies to be painless, the full truth is much more brutal in that China’s economic future may be rather bleak. After nearly 50 years of experimenting with [...]
1Dec1999 | Christopher Lingle | 2 comments | ContinuedTaxing Choice: The Predatory Politics of Fiscal Discrimination
Roy Cordato is Lundy Professor of Business Philosophy, Campbell University, Buies Creek, North Carolina. As faith in big government programs has waned in the past two decades so has the ability of the government to raise revenues through income-tax increases. Until recently, deficit spending has been the route around the public’s resistance, but the people [...]
1Nov1998 | Roy Cordato | 1 comment | ContinuedMilton Friedman, Ex-Keynesian
“I had completely forgotten how thoroughly Keynesian I then was.” —Milton Friedman[1] What?! The world’s most famous free-market economist a former Keynesian? Yes, it’s true. One of the more remarkable revelations in Milton and Rose Friedman’s new autobiography, Two Lucky People, is Milton Friedman’s flirtation with Keynesian economics in the early 1940s. During his stint [...]
1Jul1998 | Mark Skousen | 0 comments | ContinuedTaxing Time
Mr. Bandow, a nationally syndicated columnist, is a senior fellow at the Cato Institute and the author and editor of several books, including Tripwire: Korea and U.S. Foreign Policy in a Changed World. Income Tax Day is three months past, but only now are Americans finally finished paying for government. The Washington-based Tax Foundation reports [...]
1Jul1997 | Doug Bandow | 0 comments | ContinuedRed-Lining the Federal Government Budget
Dr. Timberlake is professor of economics emeritus at the University of Georgia, Athens. Throughout the United States, millions of households and business firms routinely balance their annual expenditures with their annual incomes. They look aghast and uncomprehendingly at a federal government that has not balanced its budget in the last 25 years, while its debt—the [...]
1Nov1996 | Richard H. Timberlake | 0 comments | ContinuedNew Keynesians Finally Reject Keynes’s General Theory
“When people attempt to save more, the actual result may be only a lower level of output . . .” —Paul A. Samuelson[1] “Higher saving leads to faster growth . . .” —N. Gregory Mankiw[2] The two quotations above dramatically demonstrate the stark contrast between the “old” Keynesians and the “new.” Samuelson and the old-style [...]
1Sep1996 | Mark Skousen | 1 comment | ContinuedIs Inflation Dead?
Mainstream economists are telling us that “there’s little or no danger of inflation.” The rates of inflation have come down significantly in recent years and can be expected to remain benign in the future. In the developed countries, average price inflation in 1995 was about 2.5 percent. In most less developed countries, it moderated to [...]
1Aug1996 | Hans F. Sennholz | 2 comments | ContinuedA $5 Trillion National Debt
By the time you read these lines the debt of the federal government will have passed the $5 trillion mark. Does it surpass your imagination and ability just to write the number? How many digits does it take? Are you aroused and alarmed about the ever-rising debt? Many Americans are fearful that it will lead [...]
1Sep1995 | Hans F. Sennholz | 9 comments | ContinuedFreedom from Taxes?
Mr. Bandow is a Senior Fellow at the Cato Institute and the author of The Politics of Envy: Statism as Theology (Transaction). WASHINGTON—Income tax day may be behind us, but the pain is not over. We are still working for government, and we won’t be finished until the middle of this month. According to the [...]
1Jul1995 | Doug Bandow | 0 comments | ContinuedJohn C. Calhoun: Champion of Sound Economics
Mr. Watkins, a recent graduate of Clemson University, is Assistant Editor of The Freeman. History teaches us that pernicious economic policies can destroy a powerful nation in a surprisingly short period of time. When a government uses tools such as currency expansion, debt, and high tariffs, eventually not even force will hold the nation together. [...]
1Feb1995 | William J. Watkins Jr. | 2 comments | Continued-
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