keynesian economics

Despite the constant failures of Keynesian economics and statist policies, people still haven’t realized that free-market economics is the way forward.

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

For more than two hundred years, practically all of even the most free market advocates have assumed that money and banking were different from other types of goods and markets.

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.

Forty years ago, on October 9, 1974, the Nobel Prize committee announced that the co-recipient of that year’s award for economics was the Austrian economist, Friedrich A. Hayek. Never was there a more deserving recognition for one of the truly great free market thinkers of modern times.

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.

Seventy-eight years ago, on February 4, 1936, the British economist John Maynard Keynes (1883–1946) published what soon became his most famous work, “The General Theory of Employment, Interest, and Money.”…

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.

A truly free market economy is one that tends to have the “good deflation,” and we should look forward to it.

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…

Inequality is his middle name.

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.

A general optimism prevails in the United States and Europe that the economies have finally turned the corner and growth is resuming. Don’t get too excited.