Tag: John Maynard Keynes
Krugman Attacks Us

When Paul Krugman starts attacking us, we know we’re doing something right. John Maynard Keynes’s presumptive heir, Krugman apparently doesn’t like the findings of our recent book edited by Research Fellow David Beckworth, Boom & Bust Banking: The Causes and Cures of the Great Recession, exposing the profound fallacies of Lord Keynes’s love affair...
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Fight of the Century: Keynes vs. Hayek Rap Video Round Two

“Fight of the Century: Keynes vs. Hayek Round Two” is the superb and very timely sequel to the phenomenally successful and insightful, rap video pitting the views of macroeconomist John Maynard Keynes against those of Austrian School economist Friedrich A. Hayek, “Fear the Boom and Bust.” The original has attracted to date more than...
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Larry Summers Claims Japanese Earthquake/Tsunami Disaster Will Boost Economy

Predictably, within days of the unmitigated disaster and massive loss of life (10,000 and counting) in Japan from the record 8.9-magnitude earthquake and tsunami, a major Keynesian economist has gone on the record in defending the “broken window fallacy” in economics by claiming that the Japanese disaster will actually boost economic growth. The economist...
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Debating the Great Depression: Steve Horwitz’s Latest Contribution

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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The Economist on the Austrian School of Economics’ Relevance in Explaining the Current Crisis

A Buttonwood column in the new issue of The Economist, “Taking von Mises to pieces: Why is the Austrian explanation for the crisis so little discussed?,” discusses the enormous relevance of the Austrian School of economics, including the work of F.A. Hayek, Ludwig von Mises, and Lawrence White in explaining the current economic crisis....
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Can the Dead (Capitalism) Be Brought Back to Life?

I pose this question seriously, not as a physiologist, but as an economic historian. I am provoked to raise the question by an advertisement that Amazon sent me recently, calling my attention a book titled Can Capitalism Survive? Creative Destruction and the Future of the Global Economy. Seeing this sales pitch, my immediate reaction...
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“Fear the Boom and Bust”: Hayek vs. Keynes Rap Video

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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“Stimulus Package” Parallels

The “stimulus package” is to sensible economic policy as— military justice is to justice John Maynard Keynes is to F. A. Hayek “I Love Lucy” is to “Much Ado about Nothing” Pat Robertson is to Mother Teresa a shipload of gravel is to the Rock of Gibraltar Reader’s Digest is to Tolstoy’s War and...
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Haiku for Dear Leader’s Cadres

Billions come bursting From huge hydrants of money I’m stimulated Credit freeze thaws now Fed heats pipes until they steam Winter is lovely Consumers feel fine Ready to mortgage their souls John Maynard Keynes smiles Saving’s so passé Capital may be assumed Let K be the stock Giant debt you bet Chinese will serve...
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