All Posts Tagged With: "full employment"

Real Jobs Create Wealth

If the government’s projects were truly worthwhile, they would be undertaken by private efforts, and in their quest for profits, entrepreneurs would handle them more efficiently.

Remember this when President Obama begins to boast about how successful his stimulus plan is.

21May2009 | John Stossel | 9 comments | Continued

Keynesian Economics and Constitutional Government

Last month 650 economists called for an increase in the federal minimum wage, saying it was the responsibility of the government to “improve the well-being of low-wage workers” by mandating the terms under which people may be employed. Among these economists were five recipients of the Nobel Prize in economics. One of them was Lawrence [...]

1Nov2006 | Richard M. Ebeling | 0 comments | Continued

John 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 | 32 comments | Continued

Henry Hazlitt and the Failure of Keynesian Economics

Richard Ebeling is the president of FEE.
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 [...]

1Nov2004 | Richard M. Ebeling | 0 comments | Continued

The Great Swindle

We live in the Age of Inflation. It has become a fixed idea among governments that their paramount economic aim must be to maintain “full employment,” and that full employment can be maintained only by deficit financing, artificially cheap money, or direct recourse to the printing press.
Once under way, inflation sets in motion powerful [...]

21Nov2009 | Henry Hazlitt | 0 comments | Continued