All Posts Tagged With: "Keynesian economics"
Progressive Intolerance
Television pundits increasingly express an attitude that is at once arrogant and ignorant: The people who oppose Keynesian economics—specifically an increase in government deficit spending to create jobs and jumpstart the economy—are the same kind of people who also believe that the earth is only several thousand years old (rather than 4.5 billion), that evolution [...]
26Oct2011 | Sheldon Richman | 7 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 | ContinuedDepression, War, and Recovery
Keynesians find comfort in rising macroeconomic aggregates while ignoring how flesh-and-blood people actually live.
9Sep2011 | Sheldon Richman | 25 comments | ContinuedProgressive Intolerance
Television pundits increasingly express an attitude that is at once arrogant and ignorant: People who oppose Keynesian economics must hate science and rational thought.
19Aug2011 | Sheldon Richman | 38 comments | ContinuedPaul Krugman: We Need to Be Attacked by Aliens
It is widely publicized by now that Paul Krugman, Nobel-Prize-winning economist and all-around smart fellow, said that an attack by aliens would do wonders for the economy because the government would have to engage in massive spending to repel the threat. This is just a variation on the old “War War II Ended the Depression” [...]
16Aug2011 | Sheldon Richman | 1 comment | ContinuedWho Told Whom So?
From Mario Rizzo at ThinkMarkets: In recent months – or has it been years? – Paul Krugman and Brad DeLong have been saying, in effect, “We told you so – the stimulus was not enough. Look at the sluggish economy and high unemployment rate.” They are arguing that the problem with the fiscal stimulus is [...]
15Jun2011 | Sheldon Richman | 1 comment | ContinuedCan Government Manage the Economy?
A doctor says he can cure illness by waving birch wands over the patient. We are skeptical, but being open-minded we agree to give him a chance with ailing Uncle George. He waves a red wand and chants something. The patient shows no improvement. “Let me try a green one,” he says. We’re still tolerant. [...]
21Apr2011 | James L. Payne | 2 comments | ContinuedThe Keynesians’ Special Case
Governments can neither fool Mother Nature nor violate the laws of economics.
6Apr2011 | William L. Anderson | 7 comments | ContinuedGovernment Borrowing Won’t Create Savings
In New York Times columnist Paul Krugman’s world, budget deficits morph into surpluses and savings.
16Mar2011 | William L. Anderson | 7 comments | ContinuedPresidential Hubris
“If we were going to spend $700 billion, it seems it would be wiser having that $700 billion going to folks who would spend that money right away.” — Barack Obama
8Oct2010 | Sheldon Richman | 10 comments | ContinuedMilitary Keynesians Are the Worst Keynesians of All
From the National Journal this week: Two wars are not enough. America’s economic outlook is so grim, and political solutions are so utterly absent, that only another large-scale war might be enough to lift the nation out of chronic high unemployment and slow growth, two prominent economists, a conservative and a liberal, said today. Nobelist [...]
6Oct2010 | Sheldon Richman | 4 comments | ContinuedIs It Spending or Consumption?
Anyone who believes an economy is nothing more than a mechanical operation in which some people produce, others spend, and then government makes up the difference really does not understand economic processes.
21Jul2010 | William L. Anderson | 1 comment | ContinuedWhat’s Missing from this Picture?
Washington Post economics columnist Robert Samuelson wrote last week: [T]he [economic] crisis has also battered the logic of all major theories: Keynesianism, monetarism and “rational expectations.” Economics has become the shaky science; its intellectual chaos provides context for today’s policy disputes at home and abroad. Nowhere does he mention Austrian economics. Had he been familiar [...]
6Jul2010 | Sheldon Richman | 0 comments | ContinuedThe Failure of Keynesian Economics
That anyone can still believe Keynes’s General Theory holds any answers to the world’s economic problems is one of those sad facts that make one realize just how difficult it is to gain headway in the dismal science. An article on John Maynard Keynes in the Washington Post late last year, which argued that “Keynes’s [...]
25Jun2010 | Steven Kates | 19 comments | ContinuedLiquidity Trap or Malinvested Resources?
Many people claim today that the U.S. economy is in a “liquidity trap” and only government can spend us out of this mess. They’re wrong.
2Jun2010 | William L. Anderson | 2 comments | ContinuedBeing for the Free Market Isn’t Enough
Harold Meyerson, an op-ed columnist for the Washington Post, this week launched a devastating attack on what he calls “mainstream economists.” Observe: Has any group of professionals ever been so spectacularly wrong? Pre-Copernican astronomers and cosmologists, I suppose, and for the same reason, really: They had an entire, internally consistent, theoretically rich system that described [...]
2Oct2009 | Sheldon Richman | 1 comment | ContinuedTGIF: Being for the Free Market Isn't Enough
Harold Meyerson, an op-ed columnist for the Washington Post, this week launched a devastating attack on what he calls “mainstream economists.” Too bad he’s oblivious of Austrian economics. The rest of TGIF is here.
2Oct2009 | Sheldon Richman | 2 comments | Continued-
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