Tag Archives: keynesianism

This debunks the idea by the authors (Ben Fine and Alfredo Saad-Filho) that “underlying Keynesianism is the idea that there is a natural or equilibrium full-employment interest rate”. Keynes quotes proving the point.econoblog 101A Post-Keynesian comment on “Marx’s “Capital”‘ (6th ed.)Dirk Ehnts | Lecturer at Bard College Berlin

Brad rates this as a should-read. For anyone interested in Keynesianism, Post Keynesianism and MMT, the history of economics, or economic theory, it is a must-read. Conventional economists have apparently concluded that they don't need to read it if they even thought about, which most probably haven't, being under the spell of the "normal paradigm" in spite of its poor results empirically.Washington Center for Equitable GrowthJohn Maynard Keynes: Essays In Biography Brad DeLong Here...

Right here. Except this libertarian idiot connects Keynesianism to Herbert Hoover, which demonstrates, if nothing else, how libertarians never seem to get anything right.Apparently Trump did an interview recently where he said this:“Mr. Trump himself said in a telephone interview last week that he believed more borrowing and spending would help lift economic growth, a departure from traditional Republican economics.‘It’s called priming the pump,’ Mr. Trump said. ‘Sometimes you have to do...

A career and a job where one does economically and socially useful work is an important part of any successful, healthy and wealthy society. But more than this, it gives people an identity through the job that they have and a social dignity lacking in long-term unemployment.There are of course a lot of difficult, boring, dirty and sometimes dangerous jobs that have to be done, but a technologically advanced society like ours can use its inventive genius to create more and better machines and...

Let us look at the simple facts relating to the rise of the Nazi party in the 1930s.This is the Nazi party share of the vote in federal elections in the Weimar Republic from 1924 to 1933: Date | % of Vote | Reichstag Seats May 1924 | 6.5% | 32 Dec. 1924 | 3.0% | 14 May 1928 | 2.6% | 12 Sep. 1930 | 18.3% | 107 July 1932 | 37.3% | 230 Nov. 1932 | 33.1% | 196 March 1933 | 43.9% | 288 http://en.wikipedia.org/wiki/Nazi_Party#Federal_election_results By 1928, during the economic boom in Germany,...

After almost seven years of relative calm and stability, a stock market crash is finally upon us. This is a very predictable crash stemming from a very widely known cause. Hundreds of analysts including myself — following the trail illuminated by Michael Pettis — have for a long time been banging on about a Chinese slowdown gathering an uncontrollable momentum, sending China into a panic, and infecting global markets. What’s less clear yet is whether this is a correction or a crisis. My...

Consumer prices may not be deflating as quickly as Labour’s electoral chances did earlier this month, but — even after £300 billion of quantitative easing — price deflation for the first time in more than half a century is finally here. The Bank of England continues to throw everything at keeping prices rising at close to their 2 percent target. Yet it’s not working. And this is not just about cheaper oil. Core inflation has also been dropping like a rock. I argued that “deflation was...