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Philip Booth
6 December 2011
1 comment

Thirty years ago, the economics profession was dominated by naive Keynesians. The author of the standard textbook at the time, used by the majority of A-level students and first-year undergraduates...
Stephen Michael MacLean
25 November 2011
2 comments

Students of public choice theory will recognise the rationale behind the Canadian government’s recent effort to cut waste. In response to an access-to-information request, the Treasury...
G. R. Steele
24 August 2011
11 comments

Lord Robert Skidelsky is unlikely to have understood the anecdote in his opening remarks in the LSE Hayek/Keynes debate. He related that, after addressing an audience of Cambridge economists in...
G. R. Steele
18 August 2011
6 comments

Keynes gave little thought to generalities. He acknowledged that his prescriptions were limited to the special circumstances of the 1930s. With Bolshevism in mind, any fiscal deficit spending was...
Jamie Whyte
4 August 2011
8 comments

Jamie Whyte is the Head of Research and Publications at Oliver Wyman, a strategy consulting firm specialising in the financial services industry. This is his opening statement from the Keynes vs...
Steven Kates
14 June 2011
3 comments

After writing ‘you cannot make an economy grow through public spending’ I received this touching statement of Keynesian faith in response: ‘In terms of a contribution to GDP...
Steven Kates
28 April 2011
4 comments

Only someone with professional training in economics has ever heard of the economic principle now known as Say’s Law of Markets. Indeed it was Keynes’s explicit aim in writing his...
G. R. Steele
21 January 2011
16 comments

A member of the Bank of England’s Monetary Policy Committee believes that inflation has been driven ‘by higher food and energy costs’; and the head of the European Central Bank...
Steven Kates
7 January 2011
8 comments

The recent decisions to retain the ‘Bush tax cuts’ in the United States and to withdraw the trillion-dollar-plus expenditure bill from the American Senate before it was even put to a...
G. R. Steele
29 November 2010
1 comment

In the 1920s, the UK economy was deflated as a prelude to the restoration of the gold standard. The Chancellor responsible was Winston S. Churchill. In opposing that policy, John Maynard Keynes...
Steven Kates
21 September 2010
comments

My life, of late, has been submerged under the burden of finishing off a book which I am happy to say has now, finally, been sent off to the publisher. It is, moreover, being co-published by the IEA...
Steven Kates
25 August 2010
comments

“When John Maynard Keynes talked of persistent under-employment, he did not mean that, following a big shock, economies stay frozen at one unchanging level of depressed activity. But he did...
Steven Kates
16 August 2010
comments

I go to Singapore to teach every six months, which is always instructive. On this occasion, I discovered something I didn’t know and would never have guessed - that the growth rate...
Charles K. Rowley
2 July 2010
12 comments

For those too young to remember, the mid-1970s witnessed the first demise of Keynesian economics as the much-worshipped Phillips Curve turned positive in depicting the relationship between the rate...
Kevin Dowd
24 June 2010
23 comments

By far the best contribution to the parliamentary debate on the Emergency Budget was by the MP for Wycombe, Steve Baker. Using impeccable analysis and respected (ONS and Bank for International...
Andre Johnston Phijuntjitr
17 June 2010
3 comments

Over the past year there have been murmurings of expansive new proposals for a global reserve currency to replace the long suffering, yet still hegemonic, dollar. One such proposal has been the...
Andre Johnston Phijuntjitr
9 June 2010
21 comments

A trillion here, 500 billion there - it seems no amount is too much when the authorities want to fix a perforated economy. Keeping an economy on life support through extensive...
Steven Kates
24 April 2010
2 comments

There is a video doing the rounds at the moment under the name, the “Keynes-Hayek Rap”, although more formally titled, “Fear the Boom and Bust”. It has had a million hits...
Richard Wellings
10 March 2010
1 comment

In this extract of an interview with John O’Sullivan, F. A. Hayek discusses the Great Depression and the influence of John Maynard Keynes. Professor Hayek explains that he spent a year...
Steven Kates
8 March 2010
3 comments

I am now on a 40,000 kilometre round trip to present a paper that will last but a single hour. The nature of this trip can be understood in the context of the invitation I received: “On behalf...