All Posts Tagged With: "John Maynard Keynes"
Mr. Keynes’s Aggregates
Stimulus spending, bailouts, and extension of unemployment benefits only prevent the fundamental mechanisms of change from doing their work.
15Dec2011 | Steven Horwitz | 8 comments | ContinuedFearing Hayek
I’m sensing some panic in the air. Certain people seem mighty concerned that other people are . . . discovering Hayek. As a W. S. Gilbert character might say, Oh horror!
9Dec2011 | Sheldon Richman | 2 comments | ContinuedEconomics as Ideology: Keynes, Laski, Hayek, and the Creation of Contemporary Politics
Why do people hold the views that they do, including and especially their political and ideological views? That question has generated a vast library of what has generally come to be called “psychobabble,” wherein the author attempts to “deconstruct” his biographical subject and demonstrate why the subject’s upbringing and social circumstances made him the way [...]
20Oct2011 | Richard M. Ebeling | 1 comment | ContinuedEugenics: Progressivism’s Ultimate Social Engineering
According to the received account of the Progressive Era, an enlightened government swept in and regulated markets for goods, labor, and capital, thereby protecting the hapless masses from the vicissitudes of unrestrained laissez-faire capitalism. The Progressives had faith that experts would rise above self-interest and implement wise plans to create a great society. The resulting [...]
21Sep2011 | and Art Carden | 21 comments | ContinuedContradicting Keynes: Bernanke’s Debt Default Scare
Federal Reserve Chairman Ben Bernanke’s remarks last summer about the debt limit and risk of default amounted to a stunning contradiction of Keynes and Keynesian economics. But few seem to have noticed. In response to questions by U.S. Senator Jack Reed (D-RI), Bernanke joined in the chorus of those predicting skyrocketing interest rates in the [...]
21Sep2011 | James C. W. Ahiakpor | 1 comment | ContinuedA Simple Solution
There is always an easy solution to every human problem – neat, plausible, and wrong. —H. L. Mencken I have devised a simple plan for improving Americans’ health by drastically reducing everyone’s weight, thereby significantly increasing longevity and reducing medical costs. All we need to do is revalue the pound. Instead of a pound being [...]
24Aug2011 | Richard W. Fulmer | 1 comment | ContinuedWhich Strategy Really Ended the Great Depression?
“World War II got us out of the Great Depression.” Many people said that during the war, and some still do today. The quality of American life, however, was precarious during the war. Food was rationed, luxuries removed, taxes high, and work dangerous. A recovery that does not make—as Robert Higgs points out in Depression, [...]
24Aug2011 | Burton W. Folsom Jr. | 6 comments | ContinuedHow an Economy Grows and Why It Crashes
Ignorance of economics is rampant. The average person believes the secret to prosperity is consumption and was often led to that fallacy by professional economists who should know better. Economic education in the universities has been as much a part of the problem as the solution, with millions of students taught Keynesian beliefs about government [...]
22Jun2011 | Robert Batemarco | 4 comments | ContinuedEconomic Analysis and the Great Society
Although the Great Society should be understood as primarily a political phenomenon—a vast conglomeration of government policies and actions based on political stances and objectives—economists and economic analysis played important supporting roles in the overall drama. Even when political actors could not have cared less about economic analysis, they were usually at pains to cloak [...]
25May2011 | Robert Higgs | 5 comments | ContinuedA Simple Solution
By overriding market money prices we deny ourselves important data about the country’s fiscal health.
11Apr2011 | Richard W. Fulmer | 3 comments | ContinuedGovernment as Consumer
Destutt de Tracy, as I discussed in the June issue, was a French economist whom Thomas Jefferson did his utmost to bring to the attention of America. The first part of Tracy’s A Treatise on Political Economy (1817), the translation of which Jefferson arranged, is a primer in economics that will satisfy any aficionado of [...]
29Jun2010 | Sheldon Richman | 2 comments | ContinuedDoes Malinvestment Matter?
With literally trillions of dollars having been spent for “stimulus,” the rate of unemployment hovers around 10 percent, many banks remain in a precarious state, and a meaningful economic recovery is as elusive as ever.
26May2010 | William L. Anderson | 9 comments | ContinuedKeynes vs. Hayek Rap
The great debate between Keynes and Hayek finally makes it to rap — thanks to Russell Roberts. Watch and enjoy.
26Jan2010 | Sheldon Richman | 2 comments | ContinuedObama: We Must Spend Our Way Out of This Recession
“President Barack Obama outlined new multibillion-dollar stimulus and jobs proposals Tuesday, saying the nation must continue to ‘spend our way out of this recession’ until more Americans are back at work. “Without giving a price tag, Obama proposed a package of new spending for highway, bridge and other infrastructure projects, deeper tax breaks for small [...]
9Dec2009 | Mike Van Winkle | 4 comments | ContinuedThe Trouble with Keynes
Keynesian theory implies an inherent instability in market economies. Thus the theory cannot possibly explain how a healthy market economy functions—how the market process allows one kind of activity to be traded off against the other.
1Apr2009 | Roger W. Garrison | 3 comments | ContinuedBook Reviews – December 2008
Is the Welfare State Justified? by Daniel Shapiro Cambridge University Press • 2007 • 309 pages • $80.00 hardcover; $27.99 paperback Reviewed by George C. Leef Americans have lived with the welfare state for so long—more than 70 years—that for most, it is simply a fact of life. Asking whether it is justified would seem [...]
1Dec2008 | George C. Leef | 0 comments | ContinuedCapital Letters
Thanks to Milton Friedman’s brilliance, charisma, and diplomacy he became an ardent spokesman for many free-market reforms in this country. And now Ivan Pongracic, Jr. (“The Great Depression According to Milton Friedman,” September 2007) gives him credit for accomplishing what seems miraculous—convincing Fed officials that the Fed itself was responsible for precipitating the crash and [...]
1Dec2007 | FEE Admin | 0 comments | Continued-
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