Inflation and Marxism
by“Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch its currency….Lenin was certainly right. There…
Keynesianism
Book Review: The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy
byThis article originally appeared in luckbox magazine, July 2020. In January, the Congressional Budget Office (CBO) released its Budget and Economic outlook for 2020…
Why the US Economy Is Stronger Than the Eurozone’s
byThe United States is showing resiliency and strength compared with other leading economies worldwide. The impact of the covid-19 forced shutdown crisis is lower in the United States…
Why the Fed’s Bazooka Will Not Stop a Wave of Corporate Defaults
byBy Benn Steil and Benjamin Della Rocca Acknowledging the enormous threat to jobs and incomes posed by the coronavirus epidemic, the Federal Reserve on…
Why Keynes Believed Efforts to Fight Income Inequality Hinder Economic Growth
byhe economist John Maynard Keynes (1883-1946) famously said, “in the long run we are all dead.” He wasn’t saying we should ignore the long…
The illusion of the Keynesian multiplier
byFor most economists and financial commentators the heart of economic growth is the increase in the demand for goods and services. It is…
Paul Krugman’s Predictions about “Austerity” Aren’t Aging Well
byPaul Krugman’s arguments do not fare well against evidence in a new book written by economists Alberto Alesina, Carlo Favero, and Francesco Giavazzi titled,…
Macroeconomics Has Lost Its Way
byThe father of modern macroeconomics was Keynes. Before Keynes there were macro considerations, which were firmly grounded in human action, the personal preferences and…
How magical is the Keynesian multiplier?
byFor most economists and financial commentators the heart of economic growth is the increase in the demand for goods and services. The view is…
For Keynesians and Austrians, “Uncertainty” Means Two Different Things
byBy G. P. Manish and Felicia Cowley Keynesian economics has witnessed a remarkable resurgence since the crisis of 2008. The inability of mainstream economics to predict or…