David Starkie
13 March 2015

Government spending on infrastructure is a subject on which Keynesians and Neoclassicists tend to agree. The former are interested in the short-term stimulus effect, while the latter see it as a way...
Steven Kates
17 November 2014

In my view, Say’s Law may be the single most important principle in economics. But it is a principle that was deliberately eliminated from within mainstream economic theory by John Maynard...
Steven Kates
8 October 2014

The text of the first edition of Free Market Economics: An Introduction for the General Reader was written in a kind of white heat over twelve weeks during the first months of the worldwide...
Nick Hayns
13 December 2011

It seems to be something of a truism in politics that if an untruth is repeated loud enough and with enough frequency it becomes imbued with a de-facto plausibility. 'It must be a good idea if...
Mark Littlewood
11 July 2011

The impact of fiscal stimulus packages is very limited in the short-run and positively damaging in the long-run. That was the argument put by Professor Robert Barro at the IEA's twentieth...
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

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
16 August 2010

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
3 August 2010

Mervyn King was appointed Deputy Governor of the Bank of England in 1997 and became an ex-officio member of the Bank’s interest-rate setting Monetary Policy Committee when the...
Steven Kates
8 March 2010

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...
Nick Silver
26 February 2010

" Whilst it might be presumptuous of me to disagree with the sixty eminent economists who wrote to the Financial Times last week, I would like to refer them and the reader to my paper A...
Philip Booth and Richard Wellings
19 February 2010

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...
Dan Mitchell
29 January 2010
1 comment

Tom Papworth
2 December 2009

The government’s economic recovery policy consisted of two tracks: one, a vastly expensive “fiscal stimulus“, involved ramping up spending at a time when tax revenues were falling...
Steven Kates
24 November 2009

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

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

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...
Richard Wellings
10 September 2009

From China to California, the current slump has been marked by enthusiasm for high-speed rail. Projects typically form part of some kind of “Keynesian” stimulus package. Here in Britain...
Steven Kates
30 July 2009

What we call “Keynesian” economics is not some minor sub-division of economic theory but is the very essence of macroeconomics itself. Keynes in 1936 had one central idea in writing his...
David B. Smith
10 June 2009

Britain now faces one of the most serious fiscal crises in its peacetime history. One reason is that the UK is now caught up in a sudden and severe international recession. However, the government...