What’s wrong about the euro, and what is not
byEvery Monday morning the readers of the UK’s Daily Telegraph are treated to a sermon on the benefits of Keynesian stimulus economics, the dangers of belt-tightening…
Keynesianism
America: A threat to liberty?
by“Politics, as hopeful men practice it in the world, consists mainly of the delusion that a change in form is a change in substance,”…
The Keynesians’ new clothes
byIt might seem like yesterday to some but it was already in 2009 that politicians in Europe began to talk about ‘austerity’, a concept…
Contra Richard Koo and the Keynesians: it is not about ‘aggregate demand’ but about real prices
byI do not want to waste your time and my energy with shooting down misguided Keynesian schemes all the time, schemes that have been…
Boom
by“Giarre, a town in eastern Sicily, sits above the sea on the slopes of Mount Etna. It was once a collection point for the…
Money out of thin air, mystical and dreamlike
by“Indeed, the fact that central banks can create money out of thin air, so to speak, is something that many observers are likely to…
Animal spirits
byThe BBC is running a three-part series on notable economists, starting with Keynes. There were a number of errors made, but I shall ignore…
The blind archer
byFinally, the great day has come and gone when the Fed would once again ride to the action, not daring to be left behind…
The purpose of market intervention
byInterventions in markets by governments and central banks are routine and we take them for granted. No one questions them, but they can create…
Anniversary of the credit crunch
byWe are coming up to the fifth anniversary of the financial crisis, at least for the UK’s banking system, because it was five years…