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Frank Hollenbeck
29 May 2014
2 comments

Should we print, not print? Stimulate, not stimulate? Is austerity the right or wrong policy? Is government spending or printing effective? If we ask two economists these questions, we will likely...
Steven Kates
14 May 2014
2 comments

I am reading the Economist and Financial Times 2013 book of the year, Stephen D. King's When the Money Runs Out: The End of Western Affluence. From its pages I can certainly see what the latest...
G. R. Steele
4 December 2013
comments

Keynesian demand management endures with the regular adjustment of short-term interest rates and the lowering of long-term interest rates, once short-term interest rates have been driven to their...
Pete Comley
15 July 2013
2 comments

If you look at UK inflation over the last few centuries, you are immediately struck by the change that occurred after 1945. Until then, inflation took place mainly during major wars and then periods...
G. R. Steele
4 March 2013
2 comments

Keynesian economists have an enduring disposition to spend their way out of trouble. This is so even when overspending has caused the trouble. Gone are the days when expenditure and taxation were...
Steven Kates
28 February 2013
10 comments

Has Keynesian economics reached the final frontier of idiocy? I may live on the other side of the world, but this article in The Telegraph found its way to me. It is a story that makes me think...
G. R. Steele
14 January 2013
2 comments

A review of Keynes Hayek: The Clash That Defined Modern Economics by Nicholas Wapshott. As the Luftwaffe targeted culturally-rich cities in 1942, two economists took their turn in fire-watching...
G. R. Steele
30 October 2012
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One estimate (from the Olympic Delivery Authority) for the overall ‘Public Sector Funding Package’ for the London 2012 Olympic Games, placed it in the region of £10...
Jose-Maria Garcia-Casado
12 July 2012
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Occasionally we hear the voices of a minority with a penchant for the Austrian School of thought, questioning the current monetary system and calling for a return to the gold standard or a similar...
G. R. Steele
1 June 2012
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Martin Wolf recently committed the Financial Times to a $71.88 lunch-time interview with Paul Krugman. Whatever the quality of the meal, the interview was poor value. Three questions were covered:...
Steven Kates
9 March 2012
2 comments

There was a passage in the Wall Street Journal’s Notable & Quotable column the other day from an essay written by John Stuart Mill in 1844, which I suppose was included...
Philip Booth
20 February 2012
7 comments

Recent US growth figures seem to have re-energised naive Keynesians who, lacking any real evidence or credible prior theory for their case, leap upon anything that can justify policies that involve...
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...