keynesian economics

It seems that every generation or two, fundamental economic ideas are questioned and challenged.

In the 1980s, when supply-side economics emerged as a competitor to Keynesian macroeconomic thought, it was decried by the Keynesians as “trickle-down” economics.

Whatever economic freedom we enjoy in the world today is due, to a great extent, to the ideas and efforts of the classical liberals and economists of the first half of the nineteenth century.

Ludwig von Mises’s majestic magnum opus, Human Action: A Treatise on Economics, was published on September 14, 1949. In the nearly seven decades since its appearance, Human Action has come to be recognized as one of the truly great classics of modern economics.

Forty years ago, during the week of June 15-22, 1974, the Austrian School of Economics was reborn during a conference in the small New England town of South Royalton, Vermont. Why was this important? Because the economists of the Austrian School have developed the most persuasive understanding of why only economic freedom can give mankind both liberty and prosperity.

Instead of deregulation to reduce unnecessary, stifling regulatory burdens and barriers, as both Carter and Reagan did to such fully documented success, Obama regulates mercilessly as if regulation is cost free to the economy, as the most interventionist President in American history.

The full bill for Obama’s failed economic policies has yet to arrive. But no such explosion of debt has ever escaped a day of reckoning, and no such monetary surge has ever had a happy ending.

Achieving and sustaining such economic growth should be the central focus of national economic policy, for it would solve every problem that plagues and threatens us today.

Earlier this month, President Obama tried to change the subject from Obamacare by pitching some rhetoric on “equality” to rally his Far Left base. Not much thoughtful or helpful is…

As a longtime book reviewer, I have read a growing stack of books warning about a financial collapse, but Holland’s book is not only based in the actual debt, but is written in a manner that even a person who has no knowledge of this issue can understand.

A common fallacy is that the Great Depression was ended by the explosive spending of World War II. But World War II actually institutionalized the sharp decline in the standard of living caused by the Depression.

Did Janet Yellen,
(1) see any problem in the housing bubble,
(2) anticipate the bursting of the housing bubble; and,
(3) anticipate its implications for the U.S. economy?

The answers are (1) no, (2) no, and (3) no.

I cringe every time I hear a politician or pundit talk about how a certain policy will create or destroy jobs. Yes, I get why it’s done; the unemployment rate…