Post Tagged with: "Keynesian stimulus"

February 25, 2013 12:02

Our Keynesian Depression

In the same way the Great Depression and the depressions before it lasted eight to 10 years, we will likely continue to see constrained economic growth until 2015-2016 (roughly nine years after U.S. home prices began to slide).

December 11, 2012 04:45

1992 Prediction of America’s Death – Milton Friedman

“The most unresolved problem of the day is precisely the problem that concerned the founders of this nation: how to limit the scope and power of government. Tyranny, restrictions on human freedom, come primarily from governmental institutions that we ourselves set up.”

December 12, 2011 07:08

The New Deal Was A Failure: Govt spending prolonged the depression as Obama is doing today

If Obama had spent less time seeking out Marxist professors in college he might have learned some basic economics.

November 10, 2011 04:50

Christina Romer’s Toxic Cookbook

It is this weird combination of childlike belief in the simplicity of the problem (aggregate demand, lack of optimism) and the striking arrogance of the notion that the government can and should control the economy by simply pulling at the right strings hard enough that makes Romer’s article such an illustrative example of the intellectual dead end that is mainstream economics today.

September 12, 2011 07:34

Half-educated economics graduates are leading us to ruin

You don’t see how governments can borrow their way out of debt? You’re just revealing your ignorance! You’ve had to cut back on your own spending, and you think the public sector ought to do the same? You know nothing about economics! You worry that we’re leaving our children with an unprecedented debt level? Go away and do GCSE history!

September 12, 2011 06:52

A High Stakes Clash of Economists

Keynes’ view was that the government had to spend lots of money on public housing, better roads, and improvements to the electricity grid to get money into general circulation, stimulate the economy, and restore business confidence. The unemployed had to be given work even if it was the government not private enterprise that would provide the capital.

September 9, 2011 08:37

Why Bother Working?

Since we have yet to address the real cause of this recession, we are moving inexorably closer to causing The Greater Depression. If policymakers and mainstream economists fail to understand that the progenitor of a depression is debt and inflation, they will also be unable to provide a genuine solution. And the “solutions” they do offer are tantamount to seeking the avoidance of a hangover by forcing down a few more drinks.

September 8, 2011 07:07

Obama’s New Stimulus Czar

Krueger’s resume includes advocating a value-added consumption (VAT) tax in addition to our dysfunctional income tax, directing economic policy at the Treasury from 2009-10, and creating the Small Business Lending Fund, a program modeled on the low-cost mortgage lending that produced the housing bubble. For an administration that claims to be searching for new policy options, bringing in Krueger seems to broadcast a reluctance to change.

July 6, 2011 05:57

Obama’s failed economic adviser’s naïve Keynesianism

Economics has numerous schools of thought, but Romer’s writing reflects nothing but the most simplistic Keynesian framework. The fact that the huge Keynesian stimulus of recent years that she supported has coincided with the slowest economic recovery since World War II seems to be of little concern to her.