| Monday January 24, 2011 at 10:49 AM PST
The Great Depression has been a deeply contested subject from the very beginning. After John Maynard Keynes’s General Theory became sacred writ for most mainstream economists, Keynesian interpretations generally prevailed, notwithstanding pockets of resistance among older economists, in general, and Austrian school economists, in particular. Milton Friedman and Anna Schwartz’s monumental Monetary History of...
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Tags: A Monetary History of the United States, American History, Austrian economics, Austrian School of Economics, Economics, FDR, General Theory, Great Depression, Herbert Hoover, John Maynard Keynes, macroeconomics, monetarism, New Classical economics, New Deal, regime uncertainty, Robert Higgs
David J. Theroux
| Tuesday January 26, 2010 at 1:21 PM PST
Here is a splendid and insightful, new rap video pitting the ideas of Nobel Laureate, Austrian School economist Friedrich A. Hayek against those of Lord John Maynard Keynes. As Hayek has shown, economic crises of boom and bust are created by governments that expand credit through central banks, creating unsustainable bubbles that ultimately crash....
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Tags: aggregate demand, American History, and Cold War, animal spirits, Bailouts, Books, broken window, bubble, Budget and Tax Policy, Business, Corporatism, Depression, economic stimulus, Economics, Federal Reserve, Free Market, Friedrich A. Hayek, General Theory, government spending, Government subsidies, Great Depression, Inflation, John Maynard Keynes, Labor, liquidity trap, macroeconomics, malinvestments, Money and Banking, no free lunch, Obamanomics, paradox of thrift, public works, real savings, recession, Robert Higgs, sticky wages, Taxation, The State, underconsumption, Unemployment, Video, War