Blog

Search

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...
Philip Booth and Richard Wellings
19 February 2010
2 comments

Today’s letters by 60 economists to the Financial Times in support of the government’s policy of delaying cuts in public spending echo the arguments used by mainstream economists during...
Steven Kates
30 December 2009
4 comments

To die at 94, still compos mentis, still engaged in the economic debate, is astonishing. Some people seem to be born lucky, and Samuelson was one of those people. Paul Samuelson taught Keynesian...
Steven Kates
15 December 2009
10 comments

Peter Clarke was Professor of Modern British History at Cambridge and is the author of one of the leading texts on the Keynesian Revolution. He has now written a biography, Keynes: The Twentieth...
Steven Kates
24 November 2009
2 comments

What is one to make of this report? BEIJING, Nov 18 (Reuters) – President Barack Obama gave his sternest warning yet about the need to contain rising U.S. deficits, saying on Wednesday that if...
Steven Kates
18 November 2009
10 comments

There are at least three ways used to determine the success of an economy. We deal with something abstract called economic growth, we look at the most common measure we have for production which is...
Steven Kates
29 October 2009
2 comments

One frequently hears statements that the stimulus package led to a lower level of unemployment or that it contributed to a higher level of GDP growth than would have occurred had no stimulus package...