All Posts Tagged With: "John Maynard Keynes"
The Great Depression According to Milton Friedman
The author 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 monumental events as America ‘s going [...]
1Sep2007 | Ivan Pongracic Jr. | 83 comments | ContinuedWhen 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 | 1 comment | 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 | 40 comments | ContinuedThe Function of The Freeman
On the positive side, of course, our function is to expound and apply our announced principles of traditional liberalism, voluntary cooperation, and individual freedom. On the negative side, it is to expose the errors of coercionism and collectivism of all degrees—of statism,“planning,” controlism, socialism, fascism, and communism. We seek, in other words, not only to [...]
1Jan2006 | Henry Hazlitt | 0 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 | Continued1914 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 [...]
1Mar2004 | FEE Admin | 0 comments | ContinuedA Beautiful Movie, Lousy Economics
A Beautiful Mind, winner of this year’s Academy Award for Best Motion Picture, dramatizes the life of John Forbes Nash, who in 1994 was a co-winner of the Nobel Prize in economics. It was based in part on Sylvia Nasar’s 1998 biography of the same name. As the first major Hollywood movie that centers on [...]
1Aug2002 | Sandy Ikeda | 1 comment | ContinuedTime and Money: The Macroeconomics of Capital Structure by Roger W. Garrison
Routledge • 2001 • 272 pages • $99.00 Reviewed by Robert Batemarco Although it was Tolstoy who said that “the highest wisdom has but one science—the science of the whole,” these words express with uncanny accuracy the practice of the Austrian school of economics. One of the hallmarks of that school is that it sees [...]
1Jun2002 | Robert Batemarco | 0 comments | ContinuedI Like Hayek
Who should take the place of Keynes to lead economics into the 21st century? Should it be the economics of Friedman, Ludwig von Mises, Joseph Schumpeter, or F. A. Hayek? While all four have much to offer, I favor Hayek. I am not alone.
1Sep2001 | Mark Skousen | 0 comments | ContinuedPulling Down the Keynesian Cross
In his third and final volume on John Maynard Keynes, Robert Skidelsky comes to the shocking conclusion that the Keynesian revolution was temporary, that Keynes’s General Theory was really only a “special” case, and that “free market liberalism” has ultimately triumphed. This is all the more amazing given that Lord Skidelsky has spent the past 20 years of his professional career studying Keynes and resides in Keynes’s old estate, Tilton House. Few scholars would have the guts to repudiate the theory of the man they adore.
1Jun2001 | Mark Skousen | 0 comments | ContinuedIt All Started with Adam
Adam Smith, that is. Having just completed writing a history of economics,[1] I have concluded that, despite the protestations of Murray Rothbard and other detractors, the eighteenth-century moral philosopher and celebrated author of The Wealth of Nations deserves to be named the founding father of modern economics.
1May2001 | Mark Skousen | 2 comments | ContinuedEconomics on Trial
“The duty of ‘saving’ became nine-tenths of virtue and the growth of the cake the object of true religion.” —John Maynard Keynes[1] Having Their Cake In his 1920 bestseller, The Economic Consequences of the Peace, John Maynard Keynes made a profound observation about the success of capitalism before the Great War. He lauded “the immense [...]
1Oct2000 | Mark Skousen | 1 comment | ContinuedGottfried Haberler: A Centenary Appreciation
During the first week of July in 1936, an international conference on the “Problems of Economic Change” was held in Annecy, France. It brought together such notable economists as Ludwig von Mises, Wilhelm Röpke, Oskar Morgenstern, Bertil Ohlin, Lionel Robbins, Dennis Robertson, Charles Rist, William Rappard, John B. Condliffe, John Van Sickle, Alvin Hansen, John [...]
1Jul2000 | Richard M. Ebeling | 3 comments | ContinuedNeither Left nor Right
The problem with the pendulum approach is that Adam Smith is characterized as “extreme” as Karl Marx. By implication, neither economist is sensible.
1Jul2000 | Mark Skousen | 0 comments | Continued-
The Latest
Government Beneficence and Other Fairy Tales
I admit I’m amused by the unceasing economic and political malarkey that flows from the pundits at... Read More
The Myths of the Interventionists
One of the most pernicious myths in the economic history of the twentieth century is the belief that... Read More
JPMorgan Chase and Casino Banking
JPMorgan Chase & Co., one of the nation’s leading banks, revealed in May that a London trader racked... Read More
Individualism, Trade-Unions, and “Self-Governing Combinations”
Who do you imagine said this? “[Trade-unions] seem natural to the passing phase of social evolution,... Read More
Bubbles, Malinvestment, and Higher Education
Many commentators are asking whether the next big bubble to burst will be the debt associated with the... Read More
