No end in sight toUS jobless rise Jul 10, 2009
The Harvard multiplier has seemed to work in reverse, a performance that would be disappointing to Keynesians who faithfully predict that fiscal deficits turn stone into bread and multiply income and employment. It is baffling that such extraordinary expansionary fiscal and monetary policies and gigantic stimuli have failed to at least arrest job losses. (Asia Times Online)
Is Steven Chu too much of a techno-geek? Jun 19, 2009
Keynesians everywhere are wincing ... Our best evidence for this, say the Keynesians, comes from both the outset of the Great Depression, and midway through Roosevelt's second term, in 1937, when the president gave in to deficit hawks and attempted to rein in government spending, a move that is widely seen as crippling the recovery that had at long last gotten under way. (Salon)
Welcome to the Hyperdepression Jun 16, 2009
Just as stagflation referred to the combination of high unemployment and price inflation rates in the 1970s something Keynesians thought was impossible we can use the term hyperdepression to refer to the mix of hyperinflation and a serious recession in real output. In the remainder of this article I'll explain my pessimistic outlook. (The American Conservative)
S Dasgupta: UK gets sinking feeling May 10, 2009
The harsh reality today's born-again Keynesians stubbornly refuse to recognise is that countries like Britain are living well beyond their means, on borrowed money. British government borrowing this year is likely to be 175 billion or nearly 80 per cent of the GDP. By the time Gordon Brown - another economist Prime Minister - is voted out, he would have left behind a collective debt of 1. (India Times, India)
* Forget the Great Depression: There really arent easy answers May 8, 2009
Keynesians have been able to demonstrate that fiscal stimulus can stabilize market expectations and thus provide an overall framework of confidence. Monetarists tell an alternative but parallel story of how stable monetary growth avoids radical perturbations. (Taipei Times, Taiwan -- World)
Sticky times May 5, 2009
By this, Keynesians mean wage rates and other prices that dont change fast enough for a fast-changing economy ... To fight this, Keynesians task governments with pushing money into the system to increase aggregate demand, buying up those previously fallow resources. (Townhall.com)
* A new global reserve system is needed to facilitate recovery Apr 14, 2009
For instance, while it is recognized that almost all countries need to undertake stimulus measures (were all Keynesians now), many developing countries do not have the resources to do so. Nor do existing international lending institutions. (Taipei Times, Taiwan -- Sports)
The Tax Capital of the World: New York is No. 1... Apr 12, 2009
One explicit argument for the $787 billion "stimulus" bill was to help states avoid these tax increases that even Keynesians understand are contractionary. Instead, the state politicians are pocketing the federal cash to maintain spending, and raising taxes anyway. (The Drudge Report)
The G-20's summit of fear Apr 2, 2009
Partisans of the fund say the IMF now sees the merit of massive deficit spending and that, like Richard Nixon, it can say, "we are all Keynesians now". Many critics do not agree. (Asia Times Online)
How to save the world Mar 30, 2009
In the neo-classical case it is the Walrasian Auctioneer and for New Keynesians it is the information generated by the model. Effectively this is the same thing, if subtly different. (iAfrica.com)
Gary Becker Dishes Antidote to Federal Activism Mar 25, 2009
We are all Keynesians now goes the saying oft-quoted by commentators. Mont Pelerin Society members have been replying, Not. (Bloomberg -- Columnists)
Washington Panics, Wall Street Soars: Is Runway Inflation Next? Mar 24, 2009
Keynesians and advocates of big government have always preferred inflation over unemployment and economic collapse. (In my bestselling book , I explain why Keynesian economics is so powerful in today s world. (Human Events Online)
Fed sends wrong message Mar 24, 2009
Keynesians, in concert with their Friedmanite comrades, control everything: monetary policy, fiscal policy, the judiciary, appointments and the research agenda at universities and other think-tanks, the publication programs in the editorial offices of scholarly journals. Keynesians and Friedmanites want to control the rescue effort and they certainly do not want to see their past errors and misdeeds, which lie at the root of the problem, exposed to public scrutiny ... The present crisis is about... (Asia Times Online)
Obama Raising Keynes Mar 21, 2009
(T)he Keynesians are back and economists across the spectrum are calling for government spending, observed National Public Radios Adam Davidson and Alex Blumberg on the January 29 edition of All Things Considered. Progressive-left economist Jeff Madrick a year ago triumphantly declared our country to be at the end of the age of Milton Friedman. (Townhall.com)
* The EU versus ... itself Mar 8, 2009
Keynesians filled up the warm water of fiscal stimulus in a national bathtub. When the national bathtub has holes, and other people benefit from the warmth, the exercise loses its attraction. (Taipei Times, Taiwan -- World)
* Americans hold the key to recovery, not their elected leaders Mar 8, 2009
Ah, say the Keynesians, people arent buying, and thats why businesses arent investing and hiring. Only government can jumpstart the economy. (Taipei Times, Taiwan -- World)
The binge is over, now get ready for the cure Mar 7, 2009
We're all Keynesians again and we're putting money out like there's no tomorrow. That's all fine. (Globe and Mail -- Business)
The market's harsh verdict on Obamanomics Mar 4, 2009
In my book, "The Big Three in Economics," I found that the press has frequently and prematurely written the obituary of Adam Smith and his free-market philosophy, only to see a new and more vibrant global marketplace reemerge after being savagely attacked by Keynesians, Marxists, and assorted socialists. Market capitalism survived and prospered after the boom-bust industrial revolution of the 19th century, and the Great Depression and world wars of the 20th century. (Christian Science Monitor)
Banking crisis drops floor of stocks Mar 3, 2009
Apparently, although all of our politicians are Keynesians, Wall Street is not. Obamanomics is toxic to a growing economy. (Insight on the News)
Proof Is in the Dow Mar 2, 2009
In writing The Big Three in Economics (), I found that Adam Smith and his system of natural liberty have come under attack on many occasions by his sworn enemies Keynesians, Marxists and socialists, and has often been left for dead, but always makes a comeback. As Adam Smith declared in his 1776 classic The Wealth of Nations. (Human Events Online)
News Analysis: Obama's budget aims at recovery, reduced deficit Feb 27, 2009
"If there's anything that economists on the left and right agree on, that supply-siders, classic economists and Keynesians agree on, you don't raises taxes in a recession," Republican Representative Paul Ryan said. "The budget is raising taxes in a recession.". (Xinhuanet, China)
Much Ado About Cutting Feb 26, 2009
Its neither as effortless as fiscal hawks would have it, nor as inconsequential as the permanent Keynesians want it. the 2008-09 deficit will run to $1. (Slate)
Obamanomics Is Making Matters Worse Feb 24, 2009
Today s politicians, from George Bush to Barack Obama, have suddenly become Keynesians during this financial crisis, spending money they don t have in a vain effort to right the ship ... Adam Smith and his system of natural liberty have come under attack many times by his arch enemies, the Marxists and Keynesians. (Human Events Online)
COMMENT: Keynes Had A Point Feb 24, 2009
We are all Keynesians now', was the view shared by most worldly philosophers, at least till one arrived at the Thatcher-Reagan years of the early 1980s. The aftermath of the Arab-Israeli war saw a hardening of oil prices and marked the onset of the phase of stagflation when the Keynesian prescription did not seem to offer magic solutions. (India Times, India)
Rich Lowry: Obama skipping hard choices in favor of high-minded talk Feb 24, 2009
The stimulus has another $140 billion in new tax relief mostly rebates during the next two years, but Keynesians argue that this relief won't stimulate demand because it will mostly be saved ... (This is why Keynesians can insist their theory has never failed, just never been truly tried. (Sacramento Bee -- Opinion)
Choosing the road less travelled Feb 21, 2009
The conventional wisdom has been turned on its head, and we are all Keynesians once again. The challenge is to think through what that means for policy, given the changed world economy, after globalisation and financialisation. (The Star Online, Malaysia -- Business)
What would Galbraith say? Feb 19, 2009
His economists were all Keynesians and eager to put their blackboard models to work. But they disagreed about what to do. (Boston Globe)
Thinking out loud: Democrats like to spend money Feb 19, 2009
Many economists are now Keynesians who seem to support government spending us out of the problem. Few remember that, after the crash of 29, first President Herbert Hoover, and then in 1933 President Franklin Roosevelt, tried to pull us out of the Great Depression by increased government spending. (West Roxbury Transcript, MA)
Some college economists scoff at rescue package Feb 19, 2009
"When Barack said we're all Keynesians now, I just wanted to get up in my chair and say, 'I'm not Keynesian,'" Happel said. "We're free-market economists here.". (Casa Grande Valley Newspapers, AZ)
In advance of Obama's visit, some university economists scoff at stimulus Feb 17, 2009
When Barack said we re all Keynesians now, I just wanted to get up in my chair and say, I m not Keynesian, Happel said. We re free-market economists here. (Sierra Vista Herald, AZ)
Fiscal Stimulus Is a Ruse Absent Fed Pixie Dust Feb 17, 2009
The only thing Keynesians have ever been able to point to that worked was World War II, which isnt something we want to repeat. Claiming Credit. (Bloomberg -- Columnists)
LETTERS: NCT, Feb. 14, 2009 Feb 14, 2009
" Feb. 8, an interview with economics professor George Reisman, was important and helpful. Thanks for publishing it.Dr. Reisman holds that there are two basic schools of economic thought: Keynesian and Austrian. The Austrian school calls for balanced budgets, low taxes, frugal government, and minimal market regulation. The Keynesian school ignores balanced budgets and calls for high taxes, massive government spending and strict regulation of markets.The Austrian school warns of eventual national... (North County Times)
This Isn't Your Grandfather's Recession Feb 13, 2009
Adherents of the tax-cuts-only strategy are suspicious of free-spending Democrats, old-fashioned Keynesians, and big government. They believeno, they knowthat tax cuts are more efficient than government spending, since people and businesses make better and quicker decisions about spending than government does. (Slate)
Commentary: Obama should have told us... Feb 13, 2009
We will quickly learn whether social engineering really works and whether all these Keynesians are right. The opinions expressed in this commentary are solely those of Ed Rollins. (CNN -- Law)
What States Really Need Feb 11, 2009
But whether they re Keynesians or supply-siders, conservatives or socialists, none seem to be focusing on what state governments need and could actually make use of to help them through these tough times. We conservatives aren t opposed to a stimulus package. (Human Events Online)
Economists Beg to Differ With Obama on Stimulus Feb 11, 2009
Maybe Mr. Obama has been cooped up in the White House too long and hasn't seen the dissent, such as that expressed in a strong protest letter signed by umpteen respected economists: "With all due respect Mr. President, that is not true. Notwithstanding reports that all economists are now Keynesians and that we all support a big increase in the burden of government, we the undersigned do not believe that more government spending is a way to improve economic performance." ... Even the... (Newsmax)
Is 'Do Nothing' The Right Response? Feb 11, 2009
In a series of op-ed columns, letters to the editor, and even full page ads, free-market economists and think tanks have taken on President Obama, the Democrats, and the Keynesians in opposing the $900 billion stimulus package ... All the best and brightest economists (John Hicks, Paul Samuelson, and even Milton Friedman and other future Nobel Prize winners became Keynesians. (Human Events Online)
No Consensus on "Stimulus" Bill Feb 10, 2009
Maybe Mr. Obama has been cooped up in the White House too long and hasn't seen the dissent, such as that expressed in a strong protest letter signed by umpteen respected economists: "With all due respect Mr. President, that is not true. Notwithstanding reports that all economists are now Keynesians and that we all support a big increase in the burden of government, we the undersigned do not believe that more government spending is a way to improve economic performance." The letter cites the... (Townhall.com)
Economic Know-Nothingism Feb 8, 2009
They have forgotten Richard Nixon's famous line that "we're all Keynesians now." To them, spending government funds to goose the economy is unacceptable, not just because of the possibility of poor execution i. e., pork. (Slate)
Letters to the Editor Feb 8, 2009
Will President Obama follow former President Jimmy Carter s Keynesians economic policies. I believe he will. (Corvallis Gazette Times, OR)
Wanted: A new economic theory Feb 8, 2009
Now that Prime Minister Kevin Rudd has hailed in his "Monthly' essay a new political era of ''social capitalism'' and embarked on another stimulus package it merely remains to find an economic theory to accompany it. Economics has failed manifestly to see the global financial crisis coming. Only those once derided as doomsayers and crackpots were anywhere near the mark. An entire generation of richly-remunerated experts got it wrong, once again. Even now there is a reluctance to accept that the... (Sydney Morning Herald -- Business)
False hope of protectionism Feb 7, 2009
Protectionist impulses only help to accentuate rather than ameliorate these trends; but since the new Keynesians don't even comprehend the additional borrowings required for their current actions, it is quite unlikely that they could even think about longer-term issues. The most important near-term issue from protectionism is of course inflation, as the inability to substitute higher-cost, lower-quality products (such as American cars) with cheaper, higher-quality competitors (such as Japanese... (Asia Times Online)
