Post Tagged with: "Keynesian theory"

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).

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.