All Posts Tagged With: "John Maynard Keynes"
The 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 | 2 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 about as pointless as [...]
Capital 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 | agardner | 0 comments | ContinuedThe Great Depression According to Milton Friedman
Ivan Pongracic, Jr. teaches economics at Hillsdale College. He extends special thanks to Lawrence H. White and Ivan Pongracic, Sr. for their helpful comments.
Few events in U.S. history can rival the Great Depression for its impact. The period from 1929 to 1941 saw fundamental changes in the landscape of American politics and economics, including such [...]
When the Government Took Over U.S. Investment
In the oft-quoted final chapter of The General Theory of Employment, Interest, and Money, John Maynard Keynes concluded that if we are to avoid a chronic tendency toward economic depression, the state will have to undertake, among other things, “a somewhat comprehensive socialisation of investment . . . though this need not exclude all manner [...]
1Sep2006 | Robert Higgs | 0 comments | ContinuedThe End Run to Freedom
What does the future hold for economic life in the United States? Will we move toward greater freedom or less? What role will ideas and rhetoric play, if any, in making sure that the direction is one that lovers of freedom prefer?
1Jun2006 | Russell Roberts | 0 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 | 32 comments | ContinuedHenry 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 [...]
1914 and the World We Lost
Ninety years ago this month, on June 28, 1914, Archduke Francis Ferdinand, heir to the throne of the Austro-Hungarian empire, and his wife, Sophie, were assassinated by a Bosnian-Serb nationalist in the city of Sarajevo. It served as the spark which set off the events that started World War I later that summer. It also [...]
1Jun2004 | Richard M. Ebeling | 0 comments | ContinuedBook Reviews – March 2004
Economics as Ideology: Keynes, Laski, Hayek, and the Creation of Contemporary Politics
by Kenneth R. Hoover
Rowman and Littlefield • 2003 • 328 pages • $75.00 hardcover; $27.95 paperback
Reviewed by Richard M. Ebeling
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 [...]
Are Financial Markets Inherently Unstable?
Dr. Skousen (http://www.mskousen.com; mskousen@aol.com) is an economist at Rollins College, Department of Economics, Winter Park, FL 32789, a Forbes columnist, and editor of Forecasts & Strategies.
“There is an urgent need to recognize that financial markets, far from trending towards equilibrium, are inherently unstable.”
—George Soros1
In the aftermath of the collapse of emerging economies in Asia, eastern [...]
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The End of Prosperity: How Higher Taxes Will Doom the Economy–If We Let it Happen
By Arthur B. Laffer, Stephen Moore, and Peter J. Tanous
