| 单词 | Keynesian |
| 例句 | Mélenchon’s program is classic old French Left with a large dose of Keynesian economics and a lot more populist fire. “The Intouchables”: Racial comedy, French style 2012-05-22T20:45:00Z Meanwhile, the “New Affordability” in housing went the way of the “Keynesian resurgence.” Let them eat McMansions! The 1 percent, income inequality, and new-fashioned American excess 2014-04-13T11:00:00Z When he faces the King of Diamonds in a contest of chance and averages based on a concept known as The Keynesian Beauty Contest, he gives each a workout. Why some see this "Alice in Borderland" breakout as a role model for survival 2022-12-31T05:00:00Z Perhaps Keynesian interpretive dance is an aspect of the great man's work that, in these difficult economic times, we should continue to celebrate. Virginia Woolf's play exposes the silly side of the Bloomsbury group 2012-05-23T16:01:15Z The content itself tends to be more oblique, with movement and text assembled from many sources: silent movies, sporting events, Keynesian economics. Yvonne Rainer Prepares Her Newest Dance for New York 2015-06-04T04:00:00Z For a while there was this ridiculous view that there was this massive consensus in favour of Keynesian stimulus. What can we learn from the Great Depression? 2012-08-27T11:45:00Z An explanation of Keynesian economics accompanies ballet exercises. Dance Review: Yvonne Rainer and Group at Danspace Project 2013-01-26T00:51:55Z Photograph: Leonard Woolf Keynesian interpretive dance is not a familiar concept. Virginia Woolf's play exposes the silly side of the Bloomsbury group 2012-05-23T16:01:15Z And while Milton Friedman’s early days as a Keynesian and supporter of the New Deal are mentioned, there is no real examination of his evolution into an influential champion of free markets. Books of The Times: ?Grand Pursuit? by Sylvia Nasar - Review 2011-12-01T22:20:40Z It’s not even, as some liberals contend, because the Obama administration hasn’t spent enough on a temporary Keynesian stimulus. We’ve been brainwashed 2012-06-14T17:21:00Z It’s probably fair to say that it’s a variable mixture of free-market hopefulness and lightweight Keynesian interventionism, driven more by political calculation than by core beliefs. Hillary’s predicament and the history of capitalism: Former Monty Python member explains it all 2016-03-08T05:00:00Z Keynesians, mostly Democrats, would raise taxes so government would have money to improve public services that create jobs directly. 'Age of Greed': What Wall Street avarice cost our economy 2011-06-17T19:35:04Z Without the Great Depression, there would have been no New Deal and no Keynesian revolution in economics. What the 21st century can learn from the 1929 crash | Larry Elliott 2017-03-04T05:00:00Z Quite the contrary: as the response of the Obama administration suggests, the reversion to Keynesian economics is but a tactical retreat. Tony Judt: A manifesto for a new politics 2010-03-20T00:07:00Z Both Keynesians and neoliberals claimed that their theories were bulwarks against authoritarianism, but neither side could claim the moral high ground by the mid-1970s. John Maynard Keynes Died in 1946. An Outstanding New Biography Shows Him Relevant Still. 2020-05-20T04:00:00Z Just like Crosland, though without his Keynesian grasp of the dangers of recurring boom and bust, New Labour believed capitalism had been tamed. Ralph Miliband and sons 2010-09-06T07:00:00Z Expansionist Keynesian economists are proved to be a “gang of charlatans.” The bankruptcy of liberal America: ‘The Mandibles,’ by Lionel Shriver 2016-06-20T04:00:00Z Neoliberals like Milton Friedman were advising the Pinochet military dictatorship in Chile, while successive American administrations resorted to Keynesian fiscal maneuvers to fund the prolonged bloodshed of the Vietnam War. John Maynard Keynes Died in 1946. An Outstanding New Biography Shows Him Relevant Still. 2020-05-20T04:00:00Z The Germans favour budget austerity even in hard times; the French favour fiscal stimulus on Keynesian lines. France v Germany 2016-10-27T04:00:00Z Although anticommunism and the Keynesian approach to capitalism animated the effort, the Marshall Plan was nonetheless not some clever attempt to sell American surpluses to broken economies. Why American Pragmatists Saved Postwar Europe 2018-04-13T04:00:00Z Keynesian economics is largely focused on demand, changes in which, it posits, cause the business cycle to fluctuate. Edward C. Prescott, 81, Dies; Won Nobel for Studying Business Cycles 2022-11-23T05:00:00Z In the Keynesian view, officials should always have their hands on the economic levers. Edward Prescott, Nobel laureate economist with policy influence, dies at 81 2022-11-09T05:00:00Z Keynesian economic policies, with their emphasis on government spending to increase consumer consumption, helped raise the country out of the Depression. American Government 2021-07-28T00:00:00Z John Maynard Keynes got it right and thus was born Keynesian economics starting with this basic concept in 1936. Introductory Business Statistics 2017-11-29T00:00:00Z Focusing on the tightness of labor markets as a basis for forecasting inflation is firmly within progressive Keynesian tradition. Opinion | The stock market liked the Fed’s plan to raise interest rates. It’s wrong. 2022-03-17T04:00:00Z We saw this in a big way between 1950 and 1980, when Keynesian economics reigned and labor unions helped wages — and the taxes they paid — steadily rise for working people. GOP's new plan: Raise taxes on working people, end Social Security and Medicare 2022-03-14T04:00:00Z Dr. Prescott countered that the Keynesian template is incomplete. Edward Prescott, Nobel laureate economist with policy influence, dies at 81 2022-11-09T05:00:00Z As you would expect, Keynesians and supply-siders disagree about which forms of tax policy are best. American Government 2021-07-28T00:00:00Z Even if policy in the pandemic effectively embraced the idea that you do not have to pay for your spending, that idea, he said, was also Keynesian. Time For a Victory Lap* 2022-02-06T05:00:00Z Tobin was one the most important Keynesian economists of the late 20th century, helping to establish the empirical basis for government interventions in the economy. Yellen carefully navigates inflation test, challenging skeptics one more time 2021-06-17T04:00:00Z That earlier committee initially focused on giant monopolies, but its final report in 1941 stressed Keynesian public spending — which World War II provided in Depression-ending abundance. Opinion | America won’t be ‘back’ as long as inequality is still a problem 2021-06-15T04:00:00Z Stagflation was a serious challenge to the Keynesian economic consensus, forcing the Federal Reserve to drive interest rates close to 20 percent to finally tame inflation and inviting a wave of business deregulation. Review | From commerce to chaos: An economic history of the United States 2021-06-02T04:00:00Z Keynesians, with their concern about whether consumers can really stimulate demand, prefer progressive taxes systems that increase the effective tax rate as the taxpayer’s income increases. American Government 2021-07-28T00:00:00Z Keynesian theory was little known in the U.S. at the time and certainly wasn’t in the forefront of New Dealers’ thoughts. Column: Is Biden the next FDR? That depends on what you think about the New Deal 2021-04-15T04:00:00Z By 1971, a Republican president — Richard M. Nixon — was quoted as saying that he was “now a Keynesian in economics.” Opinion | No one seems bothered by massive deficits. And that bothers me. 2021-03-29T04:00:00Z Like Keynesians of yesteryear, Modern Monetary Theorists urge government to achieve full employment through fiscal policy, even when it requires deficit spending. Welcome to the age of Modern Monetary Theory: It's turning conventional economics upside down 2021-03-20T04:00:00Z This is rightly understood as a Keynesian shift — but there is more to Keynes than deficits: He was, above all, a thinker for an age of crisis. Opinion | The Coronavirus Killed the Gospel of Small Government 2021-03-11T05:00:00Z They staved off disaster using traditional Keynesian principles and the Biden administration has taken the necessary next steps with the American Rescue Plan to restore the economy as we emerge from the crisis. Biden's big COVID bill proves a lot of his critics wrong 2021-03-12T05:00:00Z A common estimate of this effect, known as the Keynesian multiplier, is 1.5, which means bringing the economy back to potential requires $444 billion of stimulus. The Biden Economy Risks a Speeding Ticket 2021-02-26T05:00:00Z This was the right thing to do, but the Keynesian economic theory that supports deficit spending during recessions has always been hard for many people to grasp. Biden is the big spender America wants 2021-02-15T05:00:00Z By the 1960s, even conservative economist Milton Friedman admitted, “We are all Keynesians now.” Go big: Why Biden’s stimulus is the best medicine 2021-02-12T05:00:00Z The Keynesian approach has shaped Democratic economic policy ever since. Opinion | Why Are Republican Presidents So Bad for the Economy? 2021-02-02T05:00:00Z If this president who was elected as a return to traditional politics follows that part of the Keynesian model he could end up being the most transformative president since FDR. Biden's big COVID bill proves a lot of his critics wrong 2021-03-12T05:00:00Z He studied Keynesian economics at M.I.T., ultimately becoming the first Italian to receive a doctorate there. Can the Man Who Saved the Euro Now Save Italy? 2021-02-04T05:00:00Z Opposite the libertarians, Keynesians and certain kinds of "socialists" also focus on capitalism's alternative adjectives. How capitalism’s dogged defenders and propagandists defend it from criticism 2021-01-29T05:00:00Z Because Uncle Sam can run budget deficits, he has no difficulty administering the Keynesian medicine once those issues get hashed out. Opinion | Will Maryland Democrats ‘tax into the wind’? 2020-12-31T05:00:00Z Ms. Yellen is a Keynesian economist, which means she believes markets have imperfections and sometimes need to be rerouted or kick-started by government intervention. Janet Yellen, Biden’s Expected Treasury Pick, Has Broken More Than Gender Barriers 2020-11-23T05:00:00Z Trump's opponent, Biden, is not advocating for such a systemic change, but rather a modest Keynesian stimulus akin to a smaller version of the New Deal. The US is experiencing a "K-shaped" economic recovery. Here's what that means 2020-09-09T04:00:00Z In his Aug. 20 op-ed, “Just say no to a new New Deal,” George F. Will argued that Keynesian economics doesn’t work. Opinion | Say yes to a new New Deal 2020-08-24T04:00:00Z Keynesians therefore promote a more intrusive system of governmental monetary and fiscal policies, a state-macro-managed kind of capitalism. How capitalism’s dogged defenders and propagandists defend it from criticism 2021-01-29T05:00:00Z To get out of this box, Blueprint advocates are poised to break Keynesian law by “taxing into the wind.” Opinion | Will Maryland Democrats ‘tax into the wind’? 2020-12-31T05:00:00Z The spending package House Democrats flung at Senate Republicans like a $3 trillion bale of wet hay is a Keynesian dream machine. Don and Nancy, at it again 2020-05-19T04:00:00Z We could nickname this one the "Keynesian option." Stay home or reopen? We can avoid Trump's fake choice with a big, bold stimulus 2020-04-28T04:00:00Z Mr. Will called Keynesian economics a failure because Roosevelt wasn’t Keynesian enough. Opinion | Say yes to a new New Deal 2020-08-24T04:00:00Z Further-left Keynesians want government intrusions to also reduce income and wealth inequalities. How capitalism’s dogged defenders and propagandists defend it from criticism 2021-01-29T05:00:00Z If it hurts to see the Tories lauded for turning Keynesian overnight, it doesn’t show. Gordon Brown on Covid-19, recession and Trump: 'When there’s a crisis you have to act quickly' 2020-04-16T04:00:00Z FDR was more constrained than people think, in terms of applying the Keynesian medicine in large enough doses to get the economy off a dead stop. Former Reagan aide Bruce Bartlett: Why Republicans are such massive hypocrites on stimulus 2020-03-26T04:00:00Z But Germany’s stance should not be taken as a sign that its people have traded an aversion to debt for a newfound appreciation for Keynesian stimulus. Europe’s Leaders Ditch Austerity and Fight Pandemic With Cash 2020-03-26T04:00:00Z But the most important lesson from Keynesian economics is not about money — it’s about belief. Perspective | The $1 trillion stimulus isn’t about cash. It’s about restoring faith in the system. 2020-03-18T04:00:00Z “There is a big-picture element that looks more Keynesian, but there are lots of areas of government that are at best standing still.” With a Torrent of Money, Britain Takes Aim at Coronavirus and Austerity 2020-03-11T04:00:00Z It strongly advocated Keynesian economics — including the importance of federal deficit spending during periods of high unemployment. Opinion | How Politics Plays Out in Textbooks 2020-02-08T05:00:00Z But as I explained, the Keynesian medicine only works when deficits are used to buy stuff. Former Reagan aide Bruce Bartlett: Why Republicans are such massive hypocrites on stimulus 2020-03-26T04:00:00Z He relies on a blended theory that both “classical monetarist thinking and the competing Keynesian explanations” unlock the hows and whys of Great Depression. Review | Florida in the 1920s: Fun, sun and a looming financial disaster 2020-01-31T05:00:00Z In reality, our current economic boom is a Keynesian mirage. Perspective | Our current economic boom is a mirage, and our politics are going to break it 2020-01-23T05:00:00Z Enter Abe, hawkish on defence and conservative on social issues, but wedded to Keynesian notions of the state as a benign spending force for economic good. How Japan has fared in 30 years since the stock market bubble burst 2019-12-28T05:00:00Z Despite massive budget deficits that any Keynesian would expect to goose gross domestic product, future expansion of the U.S. economy is projected to average less than 2 percent per year. Opinion | Populists are popular because they give easy answers to problems that don’t have them 2019-10-11T04:00:00Z I should mention that an inevitable and necessary aspect of the proper Keynesian medicine is that inflation and interest rates will rise. Former Reagan aide Bruce Bartlett: Why Republicans are such massive hypocrites on stimulus 2020-03-26T04:00:00Z Today young people coming out of college with business degrees can be expected to debate Keynesian economics with the best/worst of them. Editorial Roundup: Recent editorials in Arkansas newspapers 2019-10-01T04:00:00Z So, the only immediate solution for India seems to be to boost consumption through a stimulus given directly to people, in the classical Keynesian mould. Viewpoint: How serious is India's economic slowdown? 2019-08-27T04:00:00Z Adding that supply side stimulus to a Keynesian dreamboat of a budget deficit of more than $1 trillion and business and consumers were ready for liftoff. Can Trump have a boom without a bust? 2019-08-20T04:00:00Z An orthodox Keynesian recession of this sort, unaccompanied by a financial market crisis, is the normal kind – and one of the best understood problems in economic policy. Forget a 2008 Lehman Bros-style crash – this is how a ‘normal’ recession could start | Dan Davies 2019-08-16T04:00:00Z Conservatives hated this, and Friedman spent most of his professional career undermining Keynesian theory any way he could. Former Reagan aide Bruce Bartlett: Why Republicans are such massive hypocrites on stimulus 2020-03-26T04:00:00Z Gradually, Dr. Feldstein drew away from those notions, writing in 1981 that “the Keynesian framework was not the right way to analyze the current problems of the American economy.” Martin Feldstein, conservative economist who called for Social Security cuts, dies at 79 2019-06-12T04:00:00Z “If they really are hell bent on delivering a surplus, the Australian economy and its people will suffer,” said Frank Stilwell, an emeritus professor and Keynesian economist at the University of Sydney. Winning during economic slowdown, Australia's Morrison must halt rot 2019-05-20T04:00:00Z Frank Stilwell, an emeritus professor and Keynesian economist at the University of Sydney, said concerns about debt and deficits were an “accountant’s view” of the economy. Right or Left: Can Australia's election winner revive a slowing... 2019-05-16T04:00:00Z The author of “The Right Side of History: How Reason and Moral Purpose Made the West Great” noted that massive government programs and Keynesian economics are not new ideas before defending his conservative worldview. Ben Shapiro walks off BBC show; Republican ‘Dark Ages’ worry framed as objective reporting 2019-05-10T04:00:00Z It was only because of the war that Keynesian policy was allowed to continue after 1940. Former Reagan aide Bruce Bartlett: Why Republicans are such massive hypocrites on stimulus 2020-03-26T04:00:00Z During the 1997-98 Asian financial crisis, Keynesian economic advisers told the Japanese government the best way to stimulate GDP growth was to dig a hole in the ground and fill it. Concrete: the most destructive material on Earth 2019-02-25T05:00:00Z As Keynesian principles promoted demand side, their theories promoted the opposite: supply side. Opinion | The Real Legacy of the 1970s 2019-02-02T05:00:00Z China also plans to step up fiscal expenditure this year, in what looks like a Keynesian push to help companies. China stimulus hopes boost markets as Beijing announces tax cuts - business live 2019-01-15T05:00:00Z If the strong growth is going to be sustained, we’re going to need to see a handoff from Keynesian stimulus to stronger investment in higher productivity. Three Key Factors That Will Determine How Long the Hot Job Market Lasts 2018-11-02T04:00:00Z That's how it's supposed to work anyway, at least according to standard Keynesian economic principles. Now Mitch McConnell wants massive cuts to social programs after GOP blew up the deficit 2018-10-17T04:00:00Z In 1981, President Ronald Reagan famously dismissed Keynesians and embraced what is known as the Chicago School of almost religious devotion to the free market, shunning interventions. Will Trumponomics Collapse? 2018-10-12T04:00:00Z Keynesian economists warned that the recovery was too fragile to withstand austerity measures, but many conservative economists strongly supported them. The Real Cost of the 2008 Financial Crisis 2018-09-10T04:00:00Z There was a green narrative, a Keynesian narrative and a Marxist narrative, all of which had merit and all of which had their adherents. Ten years after the financial crash, the timid left should be full of regrets | Larry Elliott 2018-08-30T04:00:00Z Some Keynesian economists argue that the U.S. economy’s recent uptick is only a “sugar high.” Opinion | The Good Times Can Roll On 2018-08-23T04:00:00Z The tax cuts that Congress approved in December, along with the spending increases it approved in February, amounted to a sizable Keynesian stimulus package—Republican paeans to the merits of small government notwithstanding. The Hidden Danger for Donald Trump in the Economy’s Growth Spurt 2018-08-02T04:00:00Z But there is one idea that Keynesians and Chicago School thinkers have long agreed upon. Will Trumponomics Collapse? 2018-10-12T04:00:00Z In textbook Keynesian style, these retrenchments sent the Greek economy into an even deeper recession, further diminishing the country’s capacity to repay its debts. The Real Cost of the 2008 Financial Crisis 2018-09-10T04:00:00Z “In China we believe in Keynesian economics,” said Mr. Zhang, the Jinfuzi chief executive, referring to the economic theory that favors a bigger role for government. Latest Sign of China’s Slowdown: A Technology Cash Crunch 2018-07-16T04:00:00Z Economic theories that revolve around the “rational economic man” are fundamentally misguided from a Keynesian point of view. Let’s use our collective uncertainty to foster bipartisanship 2018-05-17T04:00:00Z The Keynesian demand management that followed kept unemployment fairly low for several decades. A jobs guarantee is a flawed idea 2018-05-10T04:00:00Z GO also dispels the popular Keynesian myth that consumer spending is the driver of economic growth. If GDP Lags, Watch the Economy GO 2018-04-23T04:00:00Z Many neoclassical economists rejected the “New Keynesian consensus” and worked along separate lines. Economists still lack a proper understanding of business cycles 2018-04-19T04:00:00Z Second, while I don’t consider deficit reduction a major priority, I understand Keynesian Economics 101 well enough to understand that this is not a good time to run massive shortfalls. Every criticism of the Republican tax plan is proving true 2018-04-10T04:00:00Z “We are all Keynesians now,” Milton Friedman said. Trump’s infrastructure scheme: Tearing down 150 years of federal support 2018-02-17T05:00:00Z Republicans are apparently wild-eyed Keynesians now, cutting taxes and boosting spending in an attempt to stimulate the economy. Opinion | Trump tells lots of little lies. This is the big one. 2018-02-12T05:00:00Z “Basically, the very best argument for Keynesian economics doesn’t apply now. So it really is the time to be austere.” It may be the wrong time for GOP’s mammoth fiscal-stimulus plans 2018-02-06T05:00:00Z Yet the Keynesians’ heavy-handed approach never sat well with classically minded economists. Economists still lack a proper understanding of business cycles 2018-04-19T04:00:00Z Keynesian economics suggests that, ceteris paribus, the federal government should run surpluses in the good times and deficits in the bad times, thereby ameliorating the low and high amplitudes of inevitable economic downturns and upturns. Opinion | Right in theory but wrong in practice about the federal deficit 2018-01-05T05:00:00Z It was a classic Keynesian economic manoeuvre to use billions of dollars to sustain household spending, demand and employment. Will Australia's 'miracle economy' keep on winning? 2017-10-21T04:00:00Z The crucial feature underpinning this success was full employment, guaranteed by Keynesian macroeconomic management. Socialism with a spine: the only 21st century alternative | John Quiggin 2017-10-08T04:00:00Z Slowing growth, wobbling currencies and rising inflation upset the status quo and bolstered sceptics of Keynesian ideas, like Robert Lucas. Stanley Fischer and the twilight of technocracy 2017-09-14T04:00:00Z The synthesis of Keynesian and neoclassical ideas informed a new approach to managing the business cycle. Economists still lack a proper understanding of business cycles 2018-04-19T04:00:00Z The capital controls used to prevent financiers and speculators from sucking money out of balanced Keynesian economies collapsed. George Monbiot: how do we get out of this mess? 2017-09-09T04:00:00Z They characterize this as adherence to the Phillips curve, which is associated in many peoples’ minds with Keynesian thinking. Is there a wage growth puzzle in America? 2017-09-01T04:00:00Z The success of Keynesian stimulus in the immediate aftermath of the GFC and the disastrous outcomes from the shift to austerity after 2010 show that Keynesian economic management is as vital as ever. Socialism with a spine: the only 21st century alternative | John Quiggin 2017-10-08T04:00:00Z His textbook for undergraduate economics students included Keynesian ideas. The life of Samuelson 2017-08-31T04:00:00Z The gap between many neoclassical economists and the New Keynesians running central banks remained unbridgeable. Economists still lack a proper understanding of business cycles 2018-04-19T04:00:00Z But the best on offer from major political parties is a microwaved version of the remnants of Keynesian social democracy. George Monbiot: how do we get out of this mess? 2017-09-09T04:00:00Z This is less banal, but still inconsequential; a Keynesian accepts this description happily. Neoliberalism: the idea that changed the world 2017-08-18T04:00:00Z And his lack of economics training did not stop him from backing Keynesian stimulus after the Depression, even before Keynes himself had published “The General Theory”. Who will be the next chair of the Federal Reserve? 2017-08-10T04:00:00Z Socialist Party was advocating for now-familiar social programs: massive public infrastructure investment, jobs, and social welfare programs, funded through Keynesian stimulus. The Democratic Socialists of America hit 25,000 members. Here’s why this could mark a political turning point 2017-08-05T04:00:00Z The Reagan and Bush tax cuts combined the logic of supply-side economics and of Keynesian stimulus. A Tax Cut Might Be Nice. But Remember the Deficit. 2017-06-02T04:00:00Z The political history of the second half of the 20th century could be summarised as the conflict between its two great narratives: the stories told by Keynesian social democracy and by neoliberalism. George Monbiot: how do we get out of this mess? 2017-09-09T04:00:00Z A brief summary page from the FDR library tells the tale: “FDR: From Budget Balancer to Keynesian.” The GOP’s biggest budget lies: Take these down, and progressives will start to win 2017-05-21T04:00:00Z Down the road, in 2020 or 2024, it’s easy to foresee a Keynesian crew in power that will promote massive social spending increases to supposedly expand the economy. Perspective | How the free-lunch fallacy is hurting our government, health care and retirement 2017-05-19T04:00:00Z It’s a colorful way of characterizing the Keynesian response to a shortfall in aggregate demand: When the economy is in recession, you temporarily endure bigger budget deficits in order to encourage more private-sector activity. Opinion | Trump’s worst lie about ‘priming the pump’ isn’t that he made up the expression 2017-05-15T04:00:00Z Keynesians argue that leaving more money in people’s pockets, rather than in government coffers, increases spending and that greater demand for goods and services expands employment. A Tax Cut Might Be Nice. But Remember the Deficit. 2017-06-02T04:00:00Z This is partly because the troubles that beset the Keynesian model in the 1970s have not disappeared. George Monbiot: how do we get out of this mess? 2017-09-09T04:00:00Z Are there any other concepts from Keynesian economics the president might wish to learn about? Priming the Pump: The Economic Metaphor Trump ‘Came Up With’ 2017-05-11T04:00:00Z From the moment we come to power, we will implement a massive, environmentally focused Keynesian stimulus funded via a public bank, thus kickstarting the French economy and creating hundreds of thousands of jobs. Jean-Luc Mélenchon should be French president. Here’s why | Olivier Tonneau 2017-04-19T04:00:00Z If done with small subsidies to everyone over 6 years old throughout a poor country, income subsidies would have a Keynesian multiplier as businesses developed to capture some of the expenditures. The Future of Not Working 2017-02-23T05:00:00Z Some have said, well, it’s kind of Keynesian economics, because it relies on tax cuts, government spending, a demand-side approach to getting the economy going. Total resistance or selective engagement? Economist Gerald Epstein on how progressives should counter Trumponomics 2017-02-26T05:00:00Z He thinks the Keynesian “multiplier” model that $1 in spending produces $1.70 in growth is nonsense, as do most people who didn’t get a Ph.D. at MIT or Princeton. The Keynesians vs. Kudlow 2016-12-21T05:00:00Z In Keynesian economic theory, the strategy makes the most sense when there are underutilized economic resources to be tapped, such as during a recession or depression. Priming the Pump: The Economic Metaphor Trump ‘Came Up With’ 2017-05-11T04:00:00Z But now that they are about to get their hands on the federal checkbook, Republicans have decided that we are all Keynesians once again. Republicans are finally willing to spend on the economy — at the exact wrong time 2016-12-12T05:00:00Z His proposals—such as extending unemployment benefits and cutting the payroll tax—were conventionally Keynesian. At Long Last, the Fed Faces Reality 2016-12-14T05:00:00Z The current Fed governors and staff are steeped in Keynesian models that don’t see much benefit from tax cutting or deregulation. The Fed and Donald Trump 2016-12-15T05:00:00Z In Keynesian jargon, there is still a large multiplier on fiscal policy. Will Trump herald a US economic boom? 2016-12-07T05:00:00Z Goldman Sachs is a hothouse of Democratic donors and Keynesian economics, and perhaps as a result Mr. Mnuchin appears to face a steep policy learning curve. Trump’s Money Men 2016-12-01T05:00:00Z "The greatest irony of this latest outpouring of populism may well be a set of policies which favor capital over labor, and look more Keynesian than neo-liberal," M&G Investments said on Wednesday. Nowhere to run? Trump shock raises doubts over investor havens 2016-11-09T05:00:00Z Some of our Keynesian friends are saying that’s nothing to worry about, since a falling currency will also boost British exports and gain market share by making them cheaper. A Pound of Worry 2016-10-12T04:00:00Z Some Keynesians will welcome the pound’s decline in the name of lifting exports. A Pound of Warning 2016-10-07T04:00:00Z The opponents who remained were liberal Keynesian economists in the White House, beneficiaries of tax loopholes that derived their value from high rates, and deficit-hawk Republicans in Congress. Return to JFK’s ‘Rising Tide’ Model 2016-09-11T04:00:00Z Fifty years ago, Keynesian economists like Nicholas Kaldor and P. J. Verdoorn examined the close links between rising demand and rising productivity. The Great Productivity Puzzle 2016-08-10T04:00:00Z He explains his thinking in classic Keynesian terms. The Real Debate Underneath the Mud 2016-08-03T04:00:00Z Go back to the contemporaneous blogs and papers of the deficit hawk economists and the Keynesians. One Economic Sickness, Five Diagnoses 2016-06-17T04:00:00Z But Mr. King says this misdiagnoses the problem, which isn’t lack of demand, but structurally lower growth: “Relying solely on traditional Keynesian monetary and fiscal stimulus” risks re-creating the imbalances of the last cycle. Post-Recession Rethink: Growth Potential Dimmed Before Downturn 2016-06-01T04:00:00Z But Mr. Xi does seem determined to tread a new path by disavowing Keynesian stimulus and turning to the market to generate entrepreneurial growth. Beijing’s Supply-Side Struggle 2016-05-17T04:00:00Z “That simple Keynesian idea should be no more controversial today than Darwinian natural selection or global warming.” A Growth Rate Weighed Down by Inaction 2016-05-17T04:00:00Z Lincoln’s concept of political economy, Guelzo wrote, “was a very long way from a Keynesian, not to say a Clintonian concept of government”. ‘I work. I write. And do some politics’: Sidney Blumenthal talks Lincoln, Clinton and Trump 2016-05-14T04:00:00Z They noted that this finding is “difficult to reconcile with Keynesian theory.” One Economic Sickness, Five Diagnoses 2016-06-17T04:00:00Z “There’s still Keynesians. There’s still monetarists. There’s still Austrians. Still arguing about it. And the worst part to me is that everybody looks at the other side and goes ‘What a moron!’ When All Economics Is Political 2016-05-14T04:00:00Z But he is the one representative of Hu Jintao’s faction in the Politburo Standing Committee and seems to favor Keynesian stimulus as well. Beijing’s Supply-Side Struggle 2016-05-17T04:00:00Z “Neoliberalism’s triumph reflects … the failure of the left,” Monbiot wrote, explaining how the current system was already set in place when the previous Keynesian economic model collapsed in the 1970s. The Sanders revolution is coming: More than half of young Americans now oppose capitalism 2016-05-03T04:00:00Z The white- and blue-collar middle classes each tended to vote Democratic, which made sense: The new middle class’s good fortune was the combined product of the New Deal, postwar Keynesian economic policy, the G.I. Is the U.S. Ready for Post-Middle-Class Politics? 2016-04-27T04:00:00Z President Obama’s advisers relied on standard Keynesian theory when they proposed a large increase in government spending to energize the economy. One Economic Sickness, Five Diagnoses 2016-06-17T04:00:00Z Richard Nixon, who in 1971 described himself as "now a Keynesian on economics," followed his old boss' lead in supporting the mixed economy. The Case for Big Government 2016-04-30T04:00:00Z At first, the results of the stimulus were just as feeble as a stalwart Keynesian might predict. President Obama Weighs His Economic Legacy 2016-04-28T04:00:00Z Stagflation did the same for the Keynesian economic consensus. How Trump Killed Reaganism 2016-04-26T04:00:00Z Many of Sanders’s proposals are supported by the far-left flank of the Keynesian consensus: raising the minimum wage, setting higher taxes on wealthy estates, supporting unions, strengthening Social Security, imposing a financial-transactions tax. Bernienomics Might Not Be Feasible — But It’s Useful 2016-04-13T04:00:00Z Now Germans face demands to spend their money for Keynesian projects they don’t want, for the benefit of those same neighbors. Germany Can’t Save Europe 2016-04-17T04:00:00Z To propose Keynesian solutions to the crises of the 21st century is to ignore three obvious problems. Neoliberalism – the ideology at the root of all our problems 2016-04-15T04:00:00Z The Keynesian economic models that assume that $1 of spending produces some “multiplier” of higher GDP. Cracking Washington’s Black Box 2016-04-03T04:00:00Z After taking the U.S. off the gold standard in 1971, President Nixon famously announced: “I am now a Keynesian in economics.” How Trump Killed Reaganism 2016-04-26T04:00:00Z But the so-called mainstream of economic thought, based on Keynesian models, is supported by decades of data, peer review and argument. Bernienomics Might Not Be Feasible — But It’s Useful 2016-04-13T04:00:00Z First, the Keynesian orthodoxy of fiscal stimulus of the 1950s and 1960s, with its Phillips curves and the like, was shown to be spectacularly wrongheaded. The Transformation of Economics 2016-03-01T05:00:00Z When Keynesian demand management hit the buffers in the 70s, there was an alternative ready. Neoliberalism – the ideology at the root of all our problems 2016-04-15T04:00:00Z He admits that this “is not standard macro,” and described it as the understanding of an earlier generation of economists — a sub-tribe of Keynesians he called “Joan Robinson Keynesians.” Uncovering the Bad Math (or Logic) of an Economic Analysis Embraced by Bernie Sanders 2016-02-26T05:00:00Z That is the traditional argument for Keynesian policies. Bernie Sanders and the Case for a New Economic Stimulus Package 2016-02-25T05:00:00Z Over the last 75 years, the actual people designing Republican economic policies — figures like Martin Feldstein, Gregory Mankiw, Glenn Hubbard — have nearly all relied on Keynesian principles and models of the economy. Bernienomics Might Not Be Feasible — But It’s Useful 2016-04-13T04:00:00Z Perhaps Mr Trump is a secret admirer of Paul Krugman, a liberal economist, and plans a big Keynesian stimulus? Donald ducks the big questions 2016-02-24T05:00:00Z But in the 1970s, when Keynesian policies began to fall apart and economic crises struck on both sides of the Atlantic, neoliberal ideas began to enter the mainstream. Neoliberalism – the ideology at the root of all our problems 2016-04-15T04:00:00Z My sense was that there still had to be something off -- that you had to really drink the Keynesian kool-aid to buy Friedman's results as plausible. Uncovering the Bad Math (or Logic) of an Economic Analysis Embraced by Bernie Sanders 2016-02-26T05:00:00Z Sanders’s method of boosting demand is more orthodox: Keynesian stimulus. Bernie Sanders and the Case for a New Economic Stimulus Package 2016-02-25T05:00:00Z The interesting thing is that the results of the past strongly support them while at least half of Keynesian Theory is contradicted by historical results. Bernienomics Might Not Be Feasible — But It’s Useful 2016-04-13T04:00:00Z Decades later, the campaign finance system still inhibits genuine participatory democracy; the exhaustion of Keynesian policies in the 1970s allowed corporate capitalism to persist; Reaganomics and neoliberalism took hold. Democrats shouldn’t fear Sanders’s talk of revolution. Their party was built on it. 2016-02-12T05:00:00Z One reason is that Ms. Yellen and the Federal Reserve staff adhere to a Keynesian economic model that closely follows unemployment. Yellen and the Markets 2016-02-12T05:00:00Z Many students would like to hear about the applicability of other different approaches to economics - about Marxism, Schumpeter, classical, Austrian, Keynesian, behavioral, developmental economics. Are economics degrees fit for purpose? - BBC News 2016-02-04T05:00:00Z Time was, the Democratic Party was at least thoughtful about its Keynesian economics. After Iowa, will Republicans finally get a contest without Trump? 2016-02-03T05:00:00Z Bill Clinton’s declaration that “the era of big government is over,” was a stark contrast to Nixon’s earlier claim that “we’re all Keynesians now.” Bernie Sanders could be the next Ronald Reagan 2016-01-25T05:00:00Z “The old model of Keynesian economics no longer works for China,” said a senior official close to China’s top leadership. Global Growth at Risk of Going Off Track 2016-01-18T05:00:00Z His intellect was too restless to be pigeonholed, but when pressed he would say that he saw himself as a Keynesian in spirit, but not letter. Edward Hugh, Economist Who Foresaw Eurozone’s Struggles, Dies at 67 2015-12-30T05:00:00Z Kemp made the argument that most government leaders prefer Keynesian, big government policies because it gives those same leaders more control and power. The GOP's Savior 2015-11-20T05:00:00Z After the 2008 collapse, right-wing politicians tried to choke government further, rejecting the Keynesian model of government stimulus and pump-priming to compensate for the retrenchment of business. Paul Krugman does his victory dance, celebrates the defeat of feeble-minded austerity politics 2015-10-23T04:00:00Z Although academic economists have been intrigued, central bankers have not been rushing to pick up on his very Keynesian idea. The smartest economist you’ve never heard of 2015-10-02T04:00:00Z Economists basically discarded Keynesian policy and relied on a narrow version of monetary policy: the manipulation of interest rates by the Federal Reserve, the nation’s central banking system. Stop listening to these clowns: Economists’ bad ideas have been damaging our economy for years 2015-10-03T04:00:00Z Of this dramatic repudiation of gold as a monetary metal Nixon famously declared, “I am now a Keynesian,” more often misquoted as “We are all Keynesians now.” What Keynes Would Think of ‘Neo-Keynesians’ 2015-09-20T04:00:00Z The models are usually called “new-Keynesian,” but that is a poor description since their operation is almost diametrically opposed to anything Keynesian. The Fed Needn’t Rush to ‘Normalize’ 2015-09-16T04:00:00Z The Liberals ran on a frankly, openly Keynesian vision, and won big.” Paul Krugman does his victory dance, celebrates the defeat of feeble-minded austerity politics 2015-10-23T04:00:00Z It was at a conference organized by the Federal Reserve Bank of Boston in 1978, just as Blanchard was setting out in his career, that the revolution against the old Keynesian consensus was launched. The smartest economist you’ve never heard of 2015-10-02T04:00:00Z Summers, a onetime Keynesian, had for the moment changed his tune, and in this he represented economists generally. Stop listening to these clowns: Economists’ bad ideas have been damaging our economy for years 2015-10-03T04:00:00Z Earlier this week, Schäuble hit out at his critics, claiming he was “the better Keynesian”. Oil prices could fall to $20 a barrel says Goldman Sachs - as it happened 2015-09-11T04:00:00Z The economy is stable, not subject to Keynesian “spirals” requiring constant Fed intervention. The Fed Needn’t Rush to ‘Normalize’ 2015-09-16T04:00:00Z M.I.T.’s economics department has a long record of economic thought in the Keynesian tradition, and it produced several of the top policy makers who have guided the world economy through the tumultuous last several years. How Stanford Took On the Giants of Economics 2015-09-10T04:00:00Z These observations led Lucas, Sargent and their followers to a wholesale rejection of Keynesian economic policies. The smartest economist you’ve never heard of 2015-10-02T04:00:00Z He noted that “old-style Keynesian stimulus,” by which he meant more government spending, was now “secondary.” Stop listening to these clowns: Economists’ bad ideas have been damaging our economy for years 2015-10-03T04:00:00Z Earlier this week, Schäuble hit out at his critics, claiming he was “the better Keynesian”. Oil prices could fall to $20 a barrel says Goldman Sachs - as it happened 2015-09-11T04:00:00Z To be fair to Fed officials, forecasting is hard and they rely on the Keynesian models of the Fed staff. A Fine Fed Mess 2015-08-21T04:00:00Z Long gone is the optimistic Keynesian belief in managed capitalism, which, according to Piereson, supported the centrist two-party politics of the postwar era. Are we headed for a four-party moment? 2015-08-12T04:00:00Z Keynesian macroeconomic models were based solely on data about how the economy had performed in the past, without any theory or explanation for why people behaved the way they did. The smartest economist you’ve never heard of 2015-10-02T04:00:00Z We’re all absolutely fine with the basics of Keynesian economics around here, that in a period of deficient demand then boosting that demand will indeed grow the economy, produce more jobs and so on. Nick Hanauer Is Wrong: It's Investment, Not Demand, That Creates Jobs 2015-08-01T04:00:00Z Unlike traditional Keynesian stimulus programs, which are typically conducted at the central-government level, in China fiscal easing primarily involves providing additional state-bank money to local governments. Why China Will Still Reach Its Target Growth Rate 2015-07-31T04:00:00Z For all the rows about austerity, preaching it sounded more reasonable to voters than Keynesian wizardry. The snail loses pace 2015-07-30T04:00:00Z Or to put it another way, many economists responded to stagflation by turning their backs on Keynesian economics and its call for government action to fight recessions. Krugman's Claiming Milton Friedman For The MIT Gang Now? What? 2015-07-24T04:00:00Z But his MIT colleagues Fischer and Dornbusch had already acknowledged that there was some truth to the critique and set out to find ways to incorporate “rational expectations” and “microfoundations” into the Keynesian model. The smartest economist you’ve never heard of 2015-10-02T04:00:00Z If an opposition to strict austerity and a Keynesian outlook characterize one side of Labour ideology, then a substantial Europhilia characterizes the other. The EU Stands For Austerity, And Labour Faces A Dilemma 2015-07-14T04:00:00Z What governments don’t spend – and at this point members of the Keynesian religion should avert their eyes while skipping to the next paragraph – is redirected into the profit motivated and market disciplined private sector. The Greek 'Disaster' Was A Backdoor-Bailout Of Banks Located Outside Greece 2015-07-13T04:00:00Z And it really is just about all Treasuries and central banks, they all run economic models based upon New Keynesian reasoning and sticky prices, especially of wages downwards, is a central tenet of such models. The Euro Is The Basic Problem. So Let's Solve The Basic Problem And Get Rid Of The Euro 2015-07-13T04:00:00Z And do note that we are talking about New Keynesian models here. Greek Debt Deal Seen Swirling Plughole As Tsipras And IMF Disagree 2015-06-24T04:00:00Z Blanchard’s foray into British politics was part of larger campaign on his part to restore Keynesian policies to their rightful place and discredit the notion that reducing budget deficits can pull economies out of recession. The smartest economist you’ve never heard of 2015-10-02T04:00:00Z As one would expect, Bush’s stated desire for more vibrant economic activity quickly aroused Keynesians like Josh Barro who think the very idea of substantial economic progress laughable. Jeb Bush's Call For Puny 4% Growth Would Get Him Fired In The Private Sector 2015-06-21T04:00:00Z Focused solely on consumption, Keynesians say the economy is harmed when people fail to consume. If You Want To Redistribute The Wealth Of The Rich, Stop Taxing The Rich 2015-06-17T04:00:00Z It’s the major insight at the heart of New Keynesian theory, those sticky prices, that wages are sticky downwards. Finland's Problem Is The Same As Greece's; Neither Should Be In The Euro As Krugman Says 2015-06-14T04:00:00Z Keynes and Keynesians say that it doesn’t quite work like that. If You're A Keynesian Then You Must Believe The Minimum Wage Increases Unemployment 2015-06-13T04:00:00Z According to Lucas and Sargent, the 1970s stagflation — high inflation and high unemployment — had undermined the theoretical underpinnings of the Keynesian economic framework, which held that the two could not coexist. The smartest economist you’ve never heard of 2015-10-02T04:00:00Z First, most economists beliefs on the effectiveness of Keynesian policies aren’t motivated by how big they want the government to be. Macroeconomics Isn't All Ideology 2015-06-06T04:00:00Z Economists also had a workable theory of how the economy as a whole operates: Keynesian economics. The Triumph (and Failure) of John Nash’s Game Theory 2015-05-27T04:00:00Z “It’s not about Keynesian politics anymore — it’s about finding enough money to repair a simple road.” With Money Drying Up, Greece Is All but Bankrupt 2015-05-25T04:00:00Z While this assumption is more notable in New Keynesian models it is there in the original and is a point made by Keynes. If You're A Keynesian Then You Must Believe The Minimum Wage Increases Unemployment 2015-06-13T04:00:00Z Moreover, even if government were to try to smooth or speed these adjustments by lowering interest rates or increasing government spending, these traditional Keynesian tools would not work in stimulating spending and investment. The smartest economist you’ve never heard of 2015-10-02T04:00:00Z This is important because contrary to what you hear from Keynesian thinkers, savings are not only good for the individual, but also for the economy itself. Life Without Free Trade Would Be Defined By Cruel Deprivation 2015-05-20T04:00:00Z So did virulent attacks from the Conservative media, and the difficulty of explaining Keynesian economics to non-economists. After a Dramatic Election, What Now for the United Kingdom? 2015-05-08T04:00:00Z But they also rejected both pure laissez-faire and Keynesian demand management. Of rules and order 2015-05-07T04:00:00Z If you really are a Keynesian then you must therefore also believe that the minimum wage causes unemployment. If You're A Keynesian Then You Must Believe The Minimum Wage Increases Unemployment 2015-06-13T04:00:00Z The “New Classical” economists, as they came to be called, also had a methodological beef with the Keynesians. The smartest economist you’ve never heard of 2015-10-02T04:00:00Z In this blog post, Bernanke dispensed advice to Germany that was unimaginative, unadulterated Keynesian orthodoxy—a flawed theoretical paradigm with a dismal track record. Free To Speak His Own Mind, Ben Bernanke Shows Himself To Be An Unreconstructed Orthodox Keynesian 2015-04-22T04:00:00Z That is a traditional Keynesian position, but one that the public doesn’t appear to support. Keynes Is Set To Lose the British Election, but Piketty May Win 2015-04-20T04:00:00Z In Germany, says Mr Bofinger, “I’m the last Keynesian—and I feel like the last Mohican.” Of rules and order 2015-05-07T04:00:00Z This doesn’t mean that therefore the Keynesians, or the austerians, are correct. It's Normal That UK GDP Is Still Below Pre-Crisis Levels 2015-03-31T04:00:00Z Solow, who was at the Boston conference that day, was as dismissive of Lucas and Sargent as they had been of the Keynesian consensus. The smartest economist you’ve never heard of 2015-10-02T04:00:00Z The Keynesian argument was academic, because Labour was in no position to prove its case, and because it made such an obvious hostage to fortune. Ed Miliband’s one-legged stool 2015-03-19T04:00:00Z A standard part of the standard Keynesian economics of our day is that fiscal policy becomes necessary at the zero lower bound. Is There Really A Zero Lower Bound To Interest Rates? 2015-03-01T05:00:00Z One school says we should race off and do some Keynesian demand management. The Eurozone Crisis Is The ECB's Fault 2015-02-27T05:00:00Z After 1945 the experience of the Depression persuaded most governments to opt for Keynesian demand management, allowing deficits to expand in order to ward off recession. Polls apart 2015-02-26T05:00:00Z In the end, these “New Keynesians” arrived at the same policy conclusions as the old ones had, only this time by a different and more rigorous route. The smartest economist you’ve never heard of 2015-10-02T04:00:00Z One amusing thing about watching financial TV these days is that no analyst wants to be identified as Keynesian even as they use the Keynesian framework almost exclusively in their analysis. Current Monetary Policy: A Keynesian Distortion 2015-02-18T05:00:00Z That link being that the standard Keynesian theory does in fact insist that we should always try monetary policy first. Sweden's Rates Go Negative, Denmark's More Negative And The Death Of Keynesian Fiscal Policy 2015-02-13T05:00:00Z Given low interest rates, now would be a golden opportunity to borrow and invest more at home, boosting the economy and providing a Keynesian stimulus to the entire sluggish euro zone. No new deal 2015-02-12T05:00:00Z When the euro crisis began a half-decade ago, Keynesian economists predicted that the austerity that was being imposed on Greece and the other crisis countries would fail. Joseph Stiglitz: Europe and austerity failed Greece 2015-02-06T05:00:00Z Within the IMF there were still pockets of resistance, but in time Blanchard and his Keynesian allies prevailed. The smartest economist you’ve never heard of 2015-10-02T04:00:00Z Keynesians would say that this failure reflects an excessive focus on public-sector austerity, but demography is also a constraint, and a lasting one: workforces in many developed countries are stagnant or shrinking. Not kicking the habit 2015-02-05T05:00:00Z That puts pressure on Democrats to raise taxes that will inevitably fall on the middle class, and more so as Keynesian policies sputter. As the budget battle begins, what does the GOP have in mind? 2015-02-02T05:00:00Z There’s a misconceived notion that Keynesian ideas about fiscal policy are outdated. Fretting over the world economy 2015-01-22T05:00:00Z But he is not a garden variety Keynesian. Voodoo Economics: The Weird World Of Paul Krugman 2015-01-15T05:00:00Z Something which is, agreed, in theory actually conceivable but which manages when worked through with numbers to miss a very basic part of Keynesian thought: the marginal propensity to save. A 30% Rise In The Minimum Wage Destroys 0.7% Of All Jobs 2015-01-14T05:00:00Z It’s at the centre of a Keynesian explanation of business cycles in fact. Paul Krugman Is Most Unfair To Mitch McConnell Here 2015-01-09T05:00:00Z An early Keynesian by the name of F. Scott Fitzgerald sketched the event as a failure of capitalism. Grant's Law: 1920s Record Undermines Modern Consensus 2015-01-05T05:00:00Z President Ronald Reagan used the Keynesian theory of spending to build up the military. Harold Meyerson’s wrongheaded thoughts on Keynes 2015-01-04T05:00:00Z And despite the fears it engenders in polite society, this New Left is less Marxian than it is — oh, the horror — Keynesian. Harold Meyerson: European austerity engenders a Keynesian outlook 2014-12-31T05:00:00Z Critics such as economist Paul Krugman object that rapid growth during the Reagan years was driven more by conventional Keynesian deficit spending than by reductions in tax rates. The Laffer Curve turns 40: the legacy of a controversial idea 2014-12-26T05:00:00Z And the thing is, this is at the heart of one Keynesian tale about recessions: business confidence we might call it, animal spirits is another phrase: Paul Krugman Is Most Unfair To Mitch McConnell Here 2015-01-09T05:00:00Z For it’s a fairly basic part of the Keynesian case that savings, in a recession, are a bad thing. Japan's Savings Rate Turns Negative; Isn't This What Everyone Wanted? 2014-12-27T05:00:00Z Keynesian economic theory was meant to save capitalism from its excesses. Harold Meyerson’s wrongheaded thoughts on Keynes 2015-01-04T05:00:00Z Inside Q3 GDP: A Keynesian Puzzle Palace Where ‘Spending’ Soars, Income Stagnates That is the primary drawback of measuring economic progress from an expenditure standpoint. Economic Vital Signs in 3rd Quarter Were Strongest in a Decade 2014-12-23T05:00:00Z After years of negotiating, the NBA’s economy now resembles a standard postwar Keynesian national model, with a familiar four-bracket marginal progressive tax structure used to redistribute revenue to smaller teams. NBA’s socialist revolution: How a new plan could radicalize the league — and America 2014-12-22T05:00:00Z The EPI does in general subscribe to some form of Keynesian economics and this is one of the central points of that type of economics. The Number Of US Jobs Lost To The China Trade Is Around And About Zero 2014-12-15T05:00:00Z However, when we think in terms of Keynesian economics, and we’re at that lower bound of the zero interest rate, possibly also facing deflation worries, then the normal rules become somewhat inverted. Japan's Savings Rate Turns Negative; Isn't This What Everyone Wanted? 2014-12-27T05:00:00Z Importantly, the downturn proclaimed by the astrologists who populate economics, along with their confused Keynesian enablers in the press, isn’t really a recession. Japan's Economy Suffers Confused Pundits, Not Export Competition And Low Birthrates 2014-12-10T05:00:00Z Still, Moody’s report on Japan falls short of sounding the alarm on the tragic reality of its disastrous 30 year Keynesian experiment. Moody's Japan Credit Downgrade Still Underestimating Risk Of Financial Crisis 2014-12-08T05:00:00Z Keynesian—policies led to faster growth and a lower deficit. The U.K.’s “Mr. Austerity” Doubles Down 2014-12-04T05:00:00Z All economists, whether they are of an Austrian, Keynesian or Monetarist persuasion, as well as nearly every investor, would agree that money plays a vitally important role in the economy and financial markets. Money Supply Metrics, the Austrian Economists' Take 2014-11-30T05:00:00Z It’s absolutely nothing at all to do with the Keynesian model, nor any other economy model: it’s an attribute of the way that we calculate GDP, nothing else. Of Course The Keynesian Model Is True; That's How We Define The Keynesian Model 2014-11-29T05:00:00Z This rescheduling of purchases increased “growth” prior to the tax hike, and then it decreased the consumption that confused Keynesians view as growth once the tax was implemented. Japan's Economy Suffers Confused Pundits, Not Export Competition And Low Birthrates 2014-12-10T05:00:00Z Take for example one of the most widely held economic delusions of our day—what is known as the Keynesian Multiplier. The Myth Of The Keynesian Multiplier 2014-11-26T05:00:00Z It is an elementary precept of Keynesian economics that tax increases lead to a fall in aggregate demand and, thus, to a fall in output. Why the World Should Hope Shinzo Abe Wins 2014-11-19T05:00:00Z The fact is the Keynesian and Monetarist formulations of the money supply, the ones published by every central bank the world over, are founded on a faulty definition of money. Money Supply Metrics, the Austrian Economists' Take 2014-11-30T05:00:00Z And if we look closer at this, and we find that the relationship is actually only one to one, then we’ve a disproof of the central Keynesian contention. Of Course The Keynesian Model Is True; That's How We Define The Keynesian Model 2014-11-29T05:00:00Z The CBO – over and over again – produced reports based on Keynesian methodology to claim that Obama’s so-called stimulus was creating millions of jobs even as the unemployment rate was climbing. Proper Staffing and Reform of JCT and CBO Is an IQ Test for the Republican Party 2014-11-17T05:00:00Z Central banks are proving the validity of the Keynesian liquidity trap, and they push on strings in vain. Deflationary Game Plan 2014-11-05T05:00:00Z Kaletsky then goes on to argue that those countries and economies that followed traditional Keynesian fiscal policies did better than those that didn’t. I Wonder Which Universe Anatole Kaletsky Is Observing Here? 2014-11-02T04:00:00Z The following February, Congress passed a $787 billion stimulus, albeit smaller than Keynesian economists advocated and with no Republican votes in the House. John Maynard Keynes Is the Economist the World Needs Now 2014-10-30T04:00:00Z It wasn’t clear to me why this data was important, but then I’ve never really understood the appeal of Keynesian economics. Of Course The Keynesian Model Is True; That's How We Define The Keynesian Model 2014-11-29T05:00:00Z Keynesians who like Professor Krugman engage in magical thinking have never been infrequent. Paul Krugman: The Dollar's Reserve-Currency Role Is A 'Much Over-Rated Phenomenon' 2014-10-27T04:00:00Z To the Keynesians who populate the fraudulent economics profession, falling prices are the author of bread lines. There's No 'There' There With The Latest 'Deflation' Scare 2014-10-26T04:00:00Z Since Madame Yellen, rightly, is considered an eminent Keynesian, why not begin with Keynes? Janet Yellen, The New Magoo? 2014-10-20T04:00:00Z The IMF, to its credit, has pivoted away from the austere prescriptions of the “Washington Consensus” that it championed through the 1990s and toward a more Keynesian perspective. John Maynard Keynes Is the Economist the World Needs Now 2014-10-30T04:00:00Z Scott Sumner points us to this interesting proof that the Keynesian economic model must be true. Of Course The Keynesian Model Is True; That's How We Define The Keynesian Model 2014-11-29T05:00:00Z What is new is that they are being joined in growing numbers by Keynesians who don’t. Paul Krugman: The Dollar's Reserve-Currency Role Is A 'Much Over-Rated Phenomenon' 2014-10-27T04:00:00Z Evidence that Yellen still hews to at least some elements of behavioral economics, a form of Keynesian economics, appears in other recent papers and remarks by her. Is It the Market Going Crazy? Or Is It Traders? Can this Fed – not you or I, but the aggressively Keynesian members sitting on that board – justify raising rates if inflation is only 1.5% and falling? Economic Sea Change Ahead 2014-10-14T04:00:00Z In the 1950s and 1960s, Keynesian thinking ruled. John Maynard Keynes Is the Economist the World Needs Now 2014-10-30T04:00:00Z We were certainly in recession, government spending certainly changed, but if GDP only changed by the amount of spending change then that’s a disproof, not a proof, of the central Keynesian claim. Of Course The Keynesian Model Is True; That's How We Define The Keynesian Model 2014-11-29T05:00:00Z It ducked the great recession thanks to a textbook Keynesian stimulus response combined with the momentum of an unprecedented mining boom. An apology from Australia to the rest of the world is now warranted 2014-10-12T04:00:00Z Japan, a modern nation, tried every Keynesian and monetary trick. Charlie Munger and the 2014 Daily Journal Annual Meeting - Part Four 2014-10-08T04:00:00Z Simon was probably calling the Keynesians’ and the monetarists’ bluff in the 1970s. Greenspan Lets His Hair Down; Talks Up Gold 2014-10-06T04:00:00Z “That was the first time in history that a president specifically endorsed and adopted the Keynesian approach,” Heller told the New York Times in 1987. John Maynard Keynes Is the Economist the World Needs Now 2014-10-30T04:00:00Z Keynesian theory prescribed deficit spending during times of business recessions and the accumulation of surpluses during good times, in order to be able to pay down debts that would inevitably accrue down the road. A 15 Year Tour of Economic Analysis 2014-10-06T04:00:00Z And this, to central bankers schooled in Keynesian economics, is a no-no, for it raises the specter of deflation and recession. Draghi Firing Up the Inflation Engine, But Will It Work 2014-09-30T04:00:00Z Keynesians argue that Abe had the right idea, he just didn’t spend enough and will need to spend a lot more in the near future. Where's the Economic Growth? 2014-09-23T04:00:00Z Keynes was a genius, and Friedman is right: we are all Keynesians now. Why Oh Why Can't We Have A Better Economist Corps? 2014-09-22T04:00:00Z This fear of being called a Keynesian is silly.I was once in a three-way telephone conversation with a friend and his son. The Time Is About Right For King Dollar 2014-09-15T04:00:00Z The problem is that the model developed by Keynesian theory begins to break down as we near the event horizon of a black hole of debt…. A 15 Year Tour of Economic Analysis 2014-10-06T04:00:00Z Because they don’t they can’t expand credit in the modern Austrian model any more than they can spend the economy to prosperity in the discredited Keynesian model. Sorry China Skeptics, The Communist Party Cannot 'Expand Credit' 2014-09-12T04:00:00Z This finger-pointing by Keynesian monetary theorists is their tried and true strategy for deflecting criticism from their own economic policies. Where's the Economic Growth? 2014-09-23T04:00:00Z This Keynesian concept is embodied in the Fed’s “dual mandate” from Congress. As Jobs Stagnate, Janet Yellen Plays Economic Pinball 2014-09-07T04:00:00Z Unfortunately, many recognize the former as a “Keynesian” position and thus dismiss it as such. The Time Is About Right For King Dollar 2014-09-15T04:00:00Z Not trying the last tool in the box if the economy is rolling over is just not something that will be considered by those of the Keynesian persuasion. A 15 Year Tour of Economic Analysis 2014-10-06T04:00:00Z There is no conceivable, even Keynesian, model of the economy where that is going to be true. A $15 An Hour Minimum Wage Would Be a $17,500 A Year Tax On Jobs 2014-09-06T04:00:00Z Our Keynesian masters know their policies and theories are correct – we must only give them time to more perfectly practice them. Where's the Economic Growth? 2014-09-23T04:00:00Z In the post-war years the Treasury was a hub for Keynesian demand management. Your money or your life 2014-09-04T04:00:00Z They were debating some economic issue, and, in frustration, the son called his father a Keynesian. The Time Is About Right For King Dollar 2014-09-15T04:00:00Z The Keynesian Cowboys are saddling their QE horses, and they intend to ride. A 15 Year Tour of Economic Analysis 2014-10-06T04:00:00Z Readers do not have the advantage of referring to our multiple previous discourses in which you argued that growth under Republican administrations and supply-side economics has been weaker than growth under Democratic and Keynesian policies. Growth 2014-09-02T04:00:00Z Generally held to be members of opposite schools – “freshwater” and “saltwater,” Chicago and Cambridge, liberal and conservative, Austrian and Keynesian – both sides share an essential economic vision. Where's the Economic Growth? 2014-09-23T04:00:00Z Now Keynesians think inflation is good when the economy is weak, but inflation only taxes holders of money rather than actually growing the economy. Negative Real Interest Rates Are Just Income Redistribution Disguised As Monetary Policy 2014-08-28T04:00:00Z It’s true that this doesn’t leave all that much room for the effects of stimulus which will somewhere between disappoint and annoy Keynesians. Ben Bernanke; The 2008 Financial Crisis Was Worse Than The Great Depression 2014-08-27T04:00:00Z He was responding to Outside the Box, about the future of robotics and automation, which I introduced with a shot off the bow at the reigning Keynesian paradigm. A Nation of Shopkeepers 2014-08-26T04:00:00Z And thus Keynesians assert that in times of economic inactivity or a recession, governments should run deficits in order to spur consumption, to restart the engines of the economy … to recharge the “animal spirits.” Growth 2014-09-02T04:00:00Z Remember that a lack of demand is, in the Keynesian religion, the original sin and the source of all economic troubles. Where's the Economic Growth? 2014-09-23T04:00:00Z As much as liberals in general are currently obsessed with inequality, Keynesian economists are focused on demand. Negative Real Interest Rates Are Just Income Redistribution Disguised As Monetary Policy 2014-08-28T04:00:00Z In simple Keynesian models, this would reduce the overall level of income and production. Impacts of Inequality: Economic Stagnation 2014-08-25T04:00:00Z Keynesians then responded with several articles in the 1980’s and 1990’s, stressing the importance of price stickiness and other frictions in the macroeconomy while still incorporating the microeconomic foundations introduced by Lucas and Sargent. After New Keynesian Economics 2014-08-18T04:00:00Z Keynesian monetary policy, by lowering rates, encourages people to take on debt. Growth 2014-09-02T04:00:00Z Monetary policy as it is currently practiced is an outright war on savers, which sees them as collateral damage in the Keynesian pursuit of increased consumer demand. Where's the Economic Growth? 2014-09-23T04:00:00Z As Keynesian economists and Democrats continue to fret about the imagined lack of demand in the economy, describing our current situation as “secular stagnation,” many are calling for even more extraordinary monetary policies. Negative Real Interest Rates Are Just Income Redistribution Disguised As Monetary Policy 2014-08-28T04:00:00Z Though Keynesians and modern Austrians may tell you otherwise, money doesn’t grow on trees, nor can it be multiplied. The Closing Of The Austrian School's Economic Mind 2014-08-17T04:00:00Z Not to mention, Michael Woodford, author of the canonical New Keynesian textbook, Interest and Prices, has backed the concept. After New Keynesian Economics 2014-08-18T04:00:00Z But note that, in what must be a shock to most Keynesian economists, growth has historically done better when the levels of consumption were low – another way of saying savings were high. Growth 2014-09-02T04:00:00Z Then I’ll outline a few reasons why I think the new Keynesian mantra of “secular stagnation” is nothing more than an excuse for more of the same failed policies. Where's the Economic Growth? 2014-09-23T04:00:00Z We’re still sticking with the basic Keynesian idea, that in a slump we want to increase aggregate demand in the economy. Strangely, Fiscal Stimulus Can Be So Badly Designed That It Reduces Aggregate Spending 2014-08-05T04:00:00Z This reflects the economics profession’s widely shared belief in the efficacy of Keynesian fiscal stimulus. Jobs And GDP Reports Reveal Keynesians' Cluelessness 2014-08-03T04:00:00Z Keynesian economic theory, the idea that stimulus can spur aggregate demand, was developed largely as a response to the Great Depression. After New Keynesian Economics 2014-08-18T04:00:00Z The problem with the punk growth is not their Keynesian uber-easy monetary policy – gods forbid you would think so – no, it’s the fault of the free market for not responding. Growth 2014-09-02T04:00:00Z And funny things happen in the Keynesian endgame. Where's the Economic Growth? 2014-09-23T04:00:00Z When I was in school, majoring in economics, the world was divided between the free-market Chicago School, led by Milton Friedman, and the Harvard centric Keynesian school. Happy Birthday Milton Friedman--Advocate of School Choice 2014-07-31T04:00:00Z Now, let’s talk about the scourge of Keynesian economics. Jobs And GDP Reports Reveal Keynesians' Cluelessness 2014-08-03T04:00:00Z As a result of this modelling failure, those on the left like Paul Krugman have called for a return to traditional Old Keynesian models to justify larger stimulus packages. After New Keynesian Economics 2014-08-18T04:00:00Z A keen admirer of Keynesian economics, Moscovici said it was crucial for Europe to refocus on growth and jobs via higher investments. Moscovici says confident will have important economic role in EU Commission 2014-07-30T04:00:00Z This is after one of the most massive Keynesian quantitative easing efforts in the history of the world. Where's the Economic Growth? 2014-09-23T04:00:00Z The Initiative on Global Markets at the University of Chicago — hardly a hotbed of liberal or Keynesian thought — regularly surveys a number of the leading American economists about a variety of policy issues. What Debate? Economists Agree the Stimulus Lifted the Economy 2014-07-29T04:00:00Z Ms. Yellen is a Keynesian, and she believes in monetary stimulus and government management of the economy. Jobs And GDP Reports Reveal Keynesians' Cluelessness 2014-08-03T04:00:00Z All that being said, Mr. Krugman, I don’t think GDP as it is measured today is a Keynesian plot. Time to Put a New Economic Tool in the Box 2014-07-28T04:00:00Z A centre-left politician twice defeats conservative opponents to become president, implements a Keynesian stimulus package and—as the recovery takes hold—warns of the scourges of inequality and stagnant wages. The Labor Party 2014-07-24T04:00:00Z There are many economists, with Paul Krugman at their fore, who believe that Keynesian monetary policy is responsible for the United States doing better than Europe. Where's the Economic Growth? 2014-09-23T04:00:00Z The very act of measuring GDP as we do gives the high and easy intellectual ground to those of the Keynesian persuasion. GDP: A Brief But Affectionate History 2014-07-20T04:00:00Z But we are in uncharted territory in many ways, and it is possible that the world may not work the way standard Keynesian economic models suggest it will. Ways the Everything Boom Might End: The Good, the Bad and the Ugly 2014-07-08T04:00:00Z In particular, it has led to the misguided Keynesian notion that consumer and government spending drive the economy rather than saving, business investment, technology and entrepreneurship. Time to Put a New Economic Tool in the Box 2014-07-28T04:00:00Z But shortly after the Keynesian revolution, Milton Friedman led a new push against government intervention under the guise of monetarism. This is not a democracy: How the Supreme Court allowed the 1 percent control 2014-07-04T04:00:00Z The presupposition in much of academic economics is that the Keynesian, and in particular the neo-Keynesian, view of economics is how the world actually works. Where's the Economic Growth? 2014-09-23T04:00:00Z It is because intellectuals keep telling them that this Keynesian idea is true. Our Wonderful Politicians -- Why Do They Pass So Many Bad Laws And Repeal So Few? 2014-06-27T04:00:00Z The claim is also distinct from the Keynesian argument that preparing for war lifts government spending and puts people to work. The Lack of Major Wars May Be Hurting Economic Growth 2014-06-13T04:00:00Z Lost on the Keynesians is that to love the borrower is to love the saver, by definition. The Enron-Style Accounting That Deprives Americans Of Economic Growth 2014-06-08T04:00:00Z Otherwise, the Keynesian framework would probably be more useful, especially if your view of monetary policy focuses on interest rates rather than the money supply. Monetarist vs Keynesian: Velocity Is the Key 2014-06-02T04:00:00Z Schlichter expands his critique of the logic of pursuing more of the same debt-driven policies and highlights some of the obvious flaws in the pervasive Keynesian thinking: Where's the Economic Growth? 2014-09-23T04:00:00Z But if money is unstable, or cheap thanks to the adolescent doings of monetarist and Keynesian meddlers, those with wealth are less likely to put it to work. Steve Forbes Aims To End Four Decades Of Slow-Motion Wealth Destruction 2014-06-01T04:00:00Z The organization consistently advocates income redistribution, Keynesian stimulus and carbon taxes. College Students Dismiss Dialogue When Protesting Commencement Speakers 2014-05-29T04:00:00Z This is why Milton Friedman was dead-set against austerity, and in favor of monetary stimulus, and why he said “We’re all Keynesians”. This Is The Fundamental Thing That Most People, Including Paul Krugman, Don't Get About Economics 2014-05-19T04:00:00Z He rejected naïve Keynesian orthodoxy and chose to promote supply-side policies rather than artificially stimulate aggregate demand by pumping up government spending and running large fiscal deficits. Leszek Balcerowicz Transformed Poland Through An Embrace Of Economic Freedom 2014-05-19T04:00:00Z Yet Balls's mild Keynesian tendencies collided with Miliband's determination "not to become the party of protest", as he put it. For those who think Labour chose the wrong Miliband … 2014-05-19T04:00:00Z Some Keynesian progressives go further, suggesting the Democrats’ bill would actually create jobs by stimulating consumer spending. How Republicans Can Take Back the Minimum Wage 2014-05-15T04:00:00Z It was five years ago this month that the new president signed the $800 billion Keynesian stimulus package, also known as the Recovery Act. Today's Economist: Lessons From the Recovery Act 2014-02-24T16:00:27Z So it pursued the world's largest Keynesian response to the crisis, spending over 10% of GDP to keep the economy going. 2014 Could Be the Year of China 2014-01-04T13:20:27Z “I’m an Austrian economist by background, and we’re the guys who like gold, but not for the reasons our Keynesian critics accuse us of,” he says. Does It Make Any Sense for Overstock.com to Accept Bitcoin? 2013-12-27T20:33:49Z Paul Krugman is using Uber’s surge pricing as an example, as something to bolster a core part of the Keynesian economic model. Paul Krugman's Excellent Point About Uber's Surge Pricing 2013-12-22T15:02:00Z In this era of electronics Keynesian economic model has become irrelevant. Economic history: A Keynes for all seasons 2013-11-26T13:30:00Z If copper is being used to build Keynesian pyramids rather than productive factories, another credit crisis is inevitable. Economics and the markets: The risk that dare not speak its name 2013-11-28T13:33:15Z Such ideas came to dominate economics in the thirty years after the Second World War, so much so that Republican president Richard Nixon declared in 1971 that “we are all Keynesians now”. Economic history: A Keynes for all seasons 2013-11-26T13:30:00Z He did so in order to run a larger budget deficit, because his economic advisers, including Arthur Okun and Walter Heller, believed this would provide a Keynesian stimulus to demand. John F. Kennedy: This week in up-is-downism 2013-10-21T16:08:47Z Those of a Keynesian bent downplayed these concerns. Stimulus v austerity: Sovereign doubts 2013-09-26T15:05:58Z Such ideas came to dominate economics in the 30 years after the second world war, so much so that Republican president Richard Nixon declared in 1971 that “we are all Keynesians now”. Economic history: A Keynes for all seasons 2013-11-26T13:30:00Z Her lecture notes from a class she took with Yale economist James Tobin—a Keynesian who also won a Nobel Prize—were so clear that generations of graduate students relied on them as study guides. Ten Facts About Janet Yellen, the Woman Who Could Run the Fed 2013-05-13T18:05:22Z But whether Keynes’ ideas were ever as simple or consistent as some modern-day Keynesian economists suggest is a matter of great contention. Economic history: A Keynes for all seasons 2013-11-26T13:30:00Z I readily bow to the Keynesian philosophers and to the "Austrian" Priests; but, where in the heck is Capitalistic structure mentioned? Monetary policy: An unfinished revolution 2013-08-09T12:53:04Z Keynesians questioned Mrs Reinhart’s and Mr Rogoff’s conclusions, noting that slow growth might be a cause of high debt rather than a symptom of it. Stimulus v austerity: Sovereign doubts 2013-09-26T15:05:58Z Too bad that modern economists who don’t understand the difference wallow nostalgically in the Keynesian and Hayekian landscape of “money” of “printing money” and of “managing money” as though it were an important commodity. Economic history: A Keynes for all seasons 2013-11-26T13:30:00Z But to Keynesian critics who believe in the healing power of fiscal stimulus, the country’s recent slide back into recession is offered as proof of the futility of austerity. Can Ireland’s Celtic Tiger roar again? 2013-08-16T15:56:20Z The Economist noted as long ago as the 1960s that the ideas of Keynes the man were diverging from contemporary Keynesian economics. Economic history: A Keynes for all seasons 2013-11-26T13:30:00Z Don’t be startled that the three other books don’t include Keynesian stimulus either, let alone treat Keynesian stimulus as “standard issue.” Economix Blog: More on Consumer Spending and Growth 2013-08-01T13:55:43Z What is more, the Keynesians asserted, multipliers are much higher during nasty downturns than at other times. Stimulus v austerity: Sovereign doubts 2013-09-26T15:05:58Z It serves to distinguish the theories of Austrian and Keynesian economics. Economic history: A Keynes for all seasons 2013-11-26T13:30:00Z Unfortunately, some consciously and the so-called left unconsciously caught into the Neo-Classical and Keynesian cobweb. The Clash Between Two Famous Indian Economists 2013-08-01T08:05:26Z Margaret Thatcher and Tony Benn both argued in the 1970s that the UK was suffering from deep structural problems impervious to Keynesian remedies. New direction needed to lead us out of Wongaland 2013-07-28T15:00:49Z The chancellor has finally got the Keynesian point, that starved economies recover when you print cash and throw it at them. At last, George Osborne has got in touch with his inner Keynes 2013-07-26T05:01:00Z The classical economists thought that inflation was the Achilles’ heel of Keynesian economics, and they hammered this point relentlessly. Today's Economist: Inflationphobia, Part I 2013-07-09T04:01:25Z The point implied, but not fully stated, is that Joan Robinson tended to keep Keynesian ideas frozen as one philosophy whereas with Keynes they were changing and developing. Economic history: A Keynes for all seasons 2013-11-26T13:30:00Z To be fair, American Keynesians too often suggest that if only European Union countries would increase government spending and backstop the banks, everything would fall into place. Today's Economist: Dispatch From Europe: Learning, or Not, From Policy Mistakes 2013-07-08T15:34:56Z Keynesian stimulus proponents argued that temporary tax cuts and additional government spending would bolster hiring. Economic View: Austerity Won’t Work if the Roof Is Leaking 2013-07-06T20:15:02Z Mr. Mosler’s ideas, which go under the label of “modern monetary theory,” or M.M.T., are clearly on the fringe, drawing skeptical reactions even from many liberal Keynesian economists who agree with some of his arguments. Warren Mosler, a Deficit Lover With a Following 2013-07-04T23:42:29Z Throughout the 1950s and 1960s they continued to wage war against Keynesian economics, certain that the abiding truths of classical economics would triumph in the end. Today's Economist: Inflationphobia, Part I 2013-07-09T04:01:25Z This is the principle distinction between Keynes and Keynesians. Economic history: A Keynes for all seasons 2013-11-26T13:30:00Z But the argument between austerians and Keynesians over how to encourage sustained recovery intersects with another debate. Stimulus, not austerity is the key to global economic recovery 2013-07-01T15:01:29Z The financial crisis prompted a more obvious whiff of Keynesian policies. The economy: Dissecting the miracle 2013-06-13T15:10:47Z There are always risks, but there were always risks with austerity and it has pushed up borrowing by as much if not more than a Keynesian stimulus would have done. 9 reasons Keynesians aren't winning the argument – and what to do about it 2013-06-07T11:20:18Z In truth, the Keynesians were vulnerable on that issue, believing that a little inflation was a small price to pay for bringing down the unemployment rate. Today's Economist: Inflationphobia, Part I 2013-07-09T04:01:25Z Mr. Jalili argues that the answer to Iran’s problems lies not in “Western concepts” like Keynesian economics or human rights, but he propounds vague slogans like Islamic development and creating an Islamic lifestyle. Qum Journal: In Iran, Qum Is a Required Campaign Stop 2013-06-05T22:56:02Z George Osborne has been left isolated by the increasingly Keynesian tone of the IMF's advice. Now everyone is a Keynesian again – except George Osborne 2013-06-02T08:00:09Z It may sound like Keynesian social democratic job creation scheming of the kind usually frowned upon in Berlin and Frankfurt. Merkel's medicine is unlikely to cure Europe's disease of youth unemployment 2013-05-29T00:49:19Z Keynesian economics is a valid response to the UK's protracted economic depression. 9 reasons Keynesians aren't winning the argument – and what to do about it 2013-06-07T11:20:18Z Keynesian economics was essentially reduced to something called the Phillips curve, which showed that there was always a trade-off between inflation and unemployment – more of one would reduce the other. Today's Economist: Inflationphobia, Part I 2013-07-09T04:01:25Z Those determined to push back against the Keynesian experiment came armed with economic evidence. Britain is a lab rat for George Osborne's austerity programme experiment 2013-05-26T12:05:32Z Temporary Keynesian demand measures may help to sustain short-run internal growth, but they will not solve France's long-run competitiveness problems. Eurozone crisis: time for France to step up 2013-05-23T15:09:55Z A Victory for Keynesians Leaves Policy Unscathed To go by the statements of most mainstream economists, one would be forgiven for believing this is the best of times for Keynesian economics. Economic Scene: Despite Keynesians’ Victory, Economic Policy Holds 2013-05-21T22:23:20Z It's important, then, that Keynesians win the argument. 9 reasons Keynesians aren't winning the argument – and what to do about it 2013-06-07T11:20:18Z By the 1980s, these economists had essentially overthrown the Keynesians by asserting that inflation had one and only one cause – excessive money growth by the Fed. Today's Economist: Inflationphobia, Part I 2013-07-09T04:01:25Z Witnessing this massive rise in government spending, Martin Wolf, a journalist at the Financial Times, proclaimed, “We are all Keynesians now.” Paul Krugman’s right: Austerity kills 2013-05-19T18:45:00Z Alongside this plan is the expansion of the money supply by the Bank of Japan, which together with the spending boost will be the ultimate test of the Keynesian answer to a slump. US budget deficit's fall should make European 'austerians' think again 2013-05-15T16:31:43Z The goal: Keynesian today, when the economy needs it, but not tomorrow. Economic Scene: Despite Keynesians’ Victory, Economic Policy Holds 2013-05-21T22:23:20Z Unfortunately the Keynesians have fallen into the trap of thinking that the case they make is incontrovertible. 9 reasons Keynesians aren't winning the argument – and what to do about it 2013-06-07T11:20:18Z In July 1971, he said that Keynes was obsolete because big business and big labor so controlled the economy that Keynesian economics didn’t work. Today's Economist: Bruce Bartlett: Keynes and Keynesianism 2013-05-14T04:01:32Z What unites today's economists, Keynesian or not, is the conviction that we are still a long way from "yet". John Maynard Keynes's hypothetical grandchildren 2013-05-08T19:59:01Z Keynes’s Biggest Mistake Over the weekend, there was a kerfuffle about whether Keynesian economics ignores the long-run implications of its policies. Today's Economist: Bruce Bartlett: Keynes’s Biggest Mistake 2013-05-07T04:01:24Z But in many ways it is the worst of times for Keynesian economists. Economic Scene: Despite Keynesians’ Victory, Economic Policy Holds 2013-05-21T22:23:20Z Here are nine assumptions that trip the Keynesians up. 9 reasons Keynesians aren't winning the argument – and what to do about it 2013-06-07T11:20:18Z That year, Prime Minister James Callaghan of Britain, leader of the left-wing Labor Party, gave a speech to a party conference that repudiated the core Keynesian idea of a countercyclical fiscal policy. Today's Economist: Bruce Bartlett: Keynes and Keynesianism 2013-05-14T04:01:32Z Like Krugman, Shapiro backs the central Keynesian argument for a government spending boost, but urges him to engage with concerns from left and right about what happens to that money. Paul Krugman's call to arms against austerity 2013-05-06T13:16:00Z But even economists who had no interest in this aspect of Keynes’s life, like the economist James Buchanan, have criticized Keynesian economics for its excessively short-term focus and negative long-run consequences. Today's Economist: Bruce Bartlett: Keynes’s Biggest Mistake 2013-05-07T04:01:24Z Some of Summers’s views, like his support of stimulus spending, are core left-leaning Keynesian economics. Larry Summers and Glenn Hubbard Square Off on Our Economic Future 2013-05-02T09:01:08Z If only the other person were intelligent enough to understand, they would realise that Keynesian economics is the only way to view the world. 9 reasons Keynesians aren't winning the argument – and what to do about it 2013-06-07T11:20:18Z My point was that policy makers in the early postwar era routinely accepted the idea that Keynesian stimulus was justified whenever the economy wasn’t doing as well as they wanted. Today's Economist: Bruce Bartlett: Keynes and Keynesianism 2013-05-14T04:01:32Z In the debate dividing left and right, Keynesian and deficit hawk, infrastructure investment and shares for rights, the balance of economic opinion is gradually shifting from the latter to the former. Economic recovery: why do we still get it so wrong on small businesses? 2013-04-27T23:03:05Z This was an unfortunate error, because the core insight of Keynesian economics is that there are very special economic circumstances in which the general rules of economics don’t apply and are, in fact, counterproductive. Today's Economist: Bruce Bartlett: Keynes’s Biggest Mistake 2013-05-07T04:01:24Z The politics of the 1930s in Germany were different, so today there is no Keynesian tradition. Austerity: Views across Europe 2013-04-26T15:43:47Z Yet officials and politicians in Brussels are well aware of Keynesian theory and the history of the 1930s. 9 reasons Keynesians aren't winning the argument – and what to do about it 2013-06-07T11:20:18Z I acknowledge that this view derived mainly from economists who called themselves Keynesians rather than Keynes himself. Today's Economist: Bruce Bartlett: Keynes and Keynesianism 2013-05-14T04:01:32Z With Keynesians it is harder to work out how their recipes will address this problem. Margaret Thatcher's macroeconomic legacy: How Mrs Thatcher smashed the Keynesian consensus 2013-04-09T14:13:09Z Does Keynesian economics completely ignore the long run? Today's Economist: Bruce Bartlett: Keynes’s Biggest Mistake 2013-05-07T04:01:24Z But Keynesians, who have always ignored Keynes, have no more interest than anyone else in promoting that surplus in good times; it would be political suicide. Recommended economics writing: Weekend link exchange 2013-04-15T00:39:08Z But that is what plenty of Keynesian economists, including Krugman, advocate. 9 reasons Keynesians aren't winning the argument – and what to do about it 2013-06-07T11:20:18Z The Times’s economics columnist Leonard Silk quickly noted the significance of Nixon’s remark and said the president was actually carrying out Keynesian policies at that moment. Today's Economist: Bruce Bartlett: Keynes and Keynesianism 2013-05-14T04:01:32Z While Mrs Thatcher was raising taxes in 1981, Reagan was slashing them and boosting defence spending—textbook countercyclical Keynesian fiscal policy, even if he didn’t call it that. Margaret Thatcher's macroeconomic legacy: How Mrs Thatcher smashed the Keynesian consensus 2013-04-09T14:13:09Z But in their rejection of Keynesian economics at a time when it needed to be rejected, conservatives threw the baby out with the bathwater and are now preventing its adoption when it is badly needed. Today's Economist: Bruce Bartlett: Keynes’s Biggest Mistake 2013-05-07T04:01:24Z And before anyone throws up their hands and says ‘Keynesian claptrap,’ there is nothing necessarily Keynesian in what I am about to say. Why Austerity Can Be a Dangerous Idea 2013-04-18T11:05:24Z By so thoroughly discrediting the postwar Keynesian consensus, and by doing so more convincingly than in America, Thatcherism moved the center of gravity in economics from fine-tuning and stabilization and towards more rules-based, non-discretionary policy. Margaret Thatcher's macroeconomic legacy: How Mrs Thatcher smashed the Keynesian consensus 2013-04-09T14:13:09Z This statement was really no less controversial than the one Nixon made about Keynesian economics. Today's Economist: Bruce Bartlett: Keynes and Keynesianism 2013-05-14T04:01:32Z With the money-supply targets and inflation still overshooting, it proposed tax increases and other fiscal tightening worth 2% of GDP, apostasy to the Keynesian consensus that then permeated academia. Margaret Thatcher's macroeconomic legacy: How Mrs Thatcher smashed the Keynesian consensus 2013-04-09T14:13:09Z It is a simple Keynesian message that is undermined by survey data published on Wednesday by the Bank of England. Lending survey shows dire situation faced by small businesses 2013-04-03T13:21:57Z But this has nothing to do with Thatcherite conservatism – and everything to do with a Keynesian view of how a capitalist economy functions. The chancellor is for turning after all. And, whisper it, he's switching to Keynes 2013-03-24T00:06:20Z With the money supply targets and inflation still overshooting, it proposed tax increases and other fiscal tightening worth 2% of GDP, apostasy to the Keynesian consensus that then permeated academia. Margaret Thatcher's macroeconomic legacy: How Mrs Thatcher smashed the Keynesian consensus 2013-04-09T14:13:09Z Galbraith said that it was “sad that Mr. Nixon has proclaimed himself a Keynesian at the very moment in history when Keynes has become obsolete.” Today's Economist: Bruce Bartlett: Keynes and Keynesianism 2013-05-14T04:01:32Z Other academic Keynesians seem to be more opaque ... if one reads their columns in the newspapers one gets the idea that they just want to muddle through ... Margaret Thatcher's macroeconomic legacy: How Mrs Thatcher smashed the Keynesian consensus 2013-04-09T14:13:09Z The chancellor was never going to take the Keynesian counsel of his shadow to jump-start the economy by easing austerity and allowing more borrowing. George Osborne's Plan C: invest all your hopes in a Canadian 2013-03-24T00:06:28Z Simply put, Keynesian stimulus does not necessarily entail more government debt, as popular discourse seems to assume. Increasing taxes during an economic crisis makes perfect sense 2013-03-21T18:50:28Z However, it was not simply a disavowal of Keynesian stabilisation policies that represented a break with the past. Margaret Thatcher's macroeconomic legacy: How Mrs Thatcher smashed the Keynesian consensus 2013-04-09T14:13:09Z His full statement was, “In one sense, we are all Keynesians now; in another, nobody is any longer a Keynesian.” Today's Economist: Bruce Bartlett: Keynes and Keynesianism 2013-05-14T04:01:32Z But it also led to an extraordinary period of social creativity that left large parts of the world with welfare states and Keynesian economics, the UN and human rights. Are we back to the 1930s again? Here's why we shouldn't panic 2013-03-19T09:00:02Z When Keynesians claim that deficit spending is imperative, they mean that current taxpayers should be supported at the expense of the future ones. We can't spend our way out of economic crisis. But we can cut taxes 2013-03-17T00:06:04Z Not from any Keynesian dogma, not from idealism, not from sentimentality towards fellow Europeans, but in its own enlightened national interest, Germany needs to do more. Germany has one last chance to really save the eurozone 2013-03-13T21:00:03Z While Mrs Thatcher was raising taxes in 1981, Reagan was slashing them and boosting defence spending - textbook countercyclical Keynesian fiscal policy even if he didn’t call it that. Margaret Thatcher's macroeconomic legacy: How Mrs Thatcher smashed the Keynesian consensus 2013-04-09T14:13:09Z By 1976, it was common to hear world leaders denigrate Keynesian economics as primarily responsible for the problem of inflation. Today's Economist: Bruce Bartlett: Keynes and Keynesianism 2013-05-14T04:01:32Z This system of financial regulation and Keynesian demand management helped to promote rapid growth of the world economy until the early 1970s. More quantitative easing is not the answer to stagnation 2013-02-21T17:30:01Z This upwards spiral of investment, production and consumption is known as the Keynesian Multiplier. Because I'm worth it: the relationship economist 2013-02-09T09:00:00Z But then we are back to standard foreign policy questions about how much to spend on the military — and the Keynesian argument is effectively off the table. Economic View: Budget Sequestration: How to Do It Right 2013-02-02T19:11:10Z A sound Keynesian, Dow thought that the management of aggregate demand, with the object of maintaining high output and employment, depended mainly on fiscal policy. Facade of central bank control is starting to crumble 2013-01-27T00:06:26Z “The time for Keynesian economics is past,” Mr. Schmidt explained, “because the problem of the world today is inflation.” Today's Economist: Bruce Bartlett: Keynes and Keynesianism 2013-05-14T04:01:32Z This would satisfy the desire of Keynesian economists to stimulate demand, and in a way that would be hard for conservatives to oppose. Today's Economist: Bruce Bartlett: When Tax Cuts Were a Tough Sell 2013-01-22T11:00:31Z And so I started to think like a Keynesian. Because I'm worth it: the relationship economist 2013-02-09T09:00:00Z Limiting these investments would bring the Keynesian argument into play, and perhaps harm productivity, too. Economic View: Budget Sequestration: How to Do It Right 2013-02-02T19:11:10Z The useful justification for fiscal deficits at a time of recession is the Keynesian one of supporting demand. Safe assets: Make it so 2013-01-03T16:42:48Z On his blog last week, Paul Krugman took me to task for misconstruing the generality of Keynesian theory. Today's Economist: Bruce Bartlett: Keynes and Keynesianism 2013-05-14T04:01:32Z Here are their respective reasons: The Keynesians: Sure, the U.S. government is running budget deficits of more than $1 trillion per year, while the total national debt sits at more than $16 trillion. Why Economists Are United in Their Hatred of the Fiscal Cliff Deal 2013-01-03T10:45:40Z Keynesians don't believe that balancing a budget is the immediate solution to economic malaise. Because I'm worth it: the relationship economist 2013-02-09T09:00:00Z So we should look to substitute some areas for others — and turn to Keynesian macroeconomics for guidance. Economic View: Budget Sequestration: How to Do It Right 2013-02-02T19:11:10Z From the Keynesian perspective held by many Democrats, it won’t stop a 2 percent jump in payroll taxes, which will sap almost as much consumer demand as extending middle-class tax cuts will preserve. Proposed ‘fiscal cliff’ deal falls short under three economic theories 2013-01-01T23:49:33Z When I began studying economics in the early 1970s, the term “Keynesian” was already losing its luster. Today's Economist: Bruce Bartlett: Keynes and Keynesianism 2013-05-14T04:01:32Z There is the Keynesian camp, which believes that the economy is being hindered by a general lack of demand, and that the government needs to spend more in order to get the economy going again. Why Economists Are United in Their Hatred of the Fiscal Cliff Deal 2013-01-03T10:45:40Z Keynesian governments try to restore the thing that badly performing economies are generally lacking: confidence. Because I'm worth it: the relationship economist 2013-02-09T09:00:00Z THE Keynesian argument suggests that spending cuts do the least harm in economic sectors where demand is high relative to supply. Economic View: Budget Sequestration: How to Do It Right 2013-02-02T19:11:10Z The deal would not inject more consumer spending power into the economy this year compared with last year — in Keynesian terms, it does the opposite. Proposed ‘fiscal cliff’ deal falls short under three economic theories 2013-01-01T23:49:33Z After the cameras were off, he made an offhand comment to Howard K. Smith of ABC News that he was “now a Keynesian in economics.” Today's Economist: Bruce Bartlett: Keynes and Keynesianism 2013-05-14T04:01:32Z As all Keynesian economists would argue, governments need to step in when the private sector and, in the case of the US, state legislatures, are pulling in their horns. Obama must tackle tax reform and restore some balance to the books 2012-12-30T00:06:10Z The Keynesians overwhelmed public discussion in the United States and Britain until the 1970s, when Hayek, along with Milton Friedman and his Chicago school, became more popular. God Save the British Economy 2012-12-19T10:00:00Z In Keynesian terms, a contractionary fiscal policy would be one in which taxes are increased and spending is cut, sucking money out of the hands of consumers and cutting demand for goods and services. Backing Off Deal, Boehner Invokes ‘Plan B’ on Taxes 2012-12-18T15:22:37Z Take for example the debate over fiscal easing and Keynesian economics vs austerity. David Brooks And The Failings of The New Romantics 2012-12-12T15:54:11Z The irony, of course, is that Keynesian economics, which had dominated macroeconomic thinking since the war, was already dying. Today's Economist: Bruce Bartlett: Keynes and Keynesianism 2013-05-14T04:01:32Z The French want the eurozone budget as a Keynesian growth tool, but do not want the commission enforcing policy in France. Eurozone crisis live: EU finance ministers to discuss banking supervision 2012-12-12T14:44:59Z Left-leaning Keynesian economists support government stimulus, because they think it will increase overall economic demand and give an incentive for employers to hire more workers. God Save the British Economy 2012-12-19T10:00:00Z It’s tempting to say that we are now witnessing the backlash against Keynesian policies enacted from 2008 onwards. I'll See Your Fiscal Cliff, and Raise You One Continent 2012-12-09T15:40:32Z Keynes even said at one point that he wasn't as Keynesian as the Keynesians. hedgefundguy Nov 17th 2012 19:22 GMT Mr Smith’s talk was full of interesting historical information. Monetary policy: Will next time be different? A report from the 30th Cato monetary conference 2012-11-16T23:06:54Z Their most well-known spokesman was Milton Friedman, who argued against the Keynesians’ focus on fiscal policy – federal spending and taxing policy – and their inattention to monetary policy, which is conducted by the Federal Reserve. Today's Economist: Bruce Bartlett: Keynes and Keynesianism 2013-05-14T04:01:32Z It's a horror to see New Keynesian policymakers conduct policy as though rational expectations were simply false. Monetary policy: Making better institutions, in America and Europe 2012-11-20T16:19:10Z The quantity theory you see in textbooks is the "simplified" Cambridge equation, a pure Keynesian creation. Business cycles: Just what is a recession? 2012-12-03T17:04:43Z I guess it’s finally true that we all are Keynesians now. Viewpoint: The Fictions Behind the Fiscal Cliff Fight 2012-11-30T23:20:25Z With its tax base decimated, no means for Keynesian short-term deficit spending to promote recovery, the City Council was forced to declare bankruptcy in June. American cities are dropping like flies 2012-11-28T18:30:00Z As it happens, Friedman had said in 1965 that “we’re all Keynesians now” in the Dec. 31 issue of Time magazine. Today's Economist: Bruce Bartlett: Keynes and Keynesianism 2013-05-14T04:01:32Z Padoan’s line on the “fiscal cliff” echoed that of many Democrats and moderate Keynesian economists warning off a swift push for austerity. Europe’s debt crisis is greater threat than the “fiscal cliff” 2012-11-27T16:43:00Z Spending has a cyclical component because of the cost of unemployment benefit as well as the use of deliberate Keynesian stimulus. Buttonwood: Converging world 2012-11-15T16:05:22Z Believe it or not, Keynesian economics is not the only way to interpret the job openings data. Today's Economist: Casey B. Mulligan: What Job Openings Tell Us 2012-11-14T11:00:56Z Since the 2008 financial crisis, however, Republicans have increasingly questioned the logic and legitimacy of such Keynesian stimulus. An October surprise: When the candidates agree 2012-10-05T21:41:00Z I think Milton Friedman was right that in a sense we are all Keynesians and not Keynesians at the same time. Today's Economist: Bruce Bartlett: Keynes and Keynesianism 2013-05-14T04:01:32Z Balls used the infrastructure announcement to highlight how Labour was prepared to embark on a major Keynesian stimulus of the economy. Ed Balls vows to 'rebuild Britain anew' 2012-10-01T18:51:26Z Turning away from the disturbing effects of public spending cuts and unemployment across continental Europe, the US has moved closer to a model of recovery supported by Keynesian demand theory. Ed Miliband is right to threaten the banks 2012-09-29T19:00:07Z In the Keynesian view, the two changes would be correlated only by coincidence. Today's Economist: Casey B. Mulligan: Labor-Market Scars Left by Redistributive Public Policy 2012-09-26T10:00:45Z How or how did they do that without New Keynesian economists to tell them what to do? Wage flexibility: No wriggling out of trouble 2012-09-11T17:20:27Z What I think he meant is that no one advocates Keynesian stimulus at all times, but that there are times, like now, when it is desperately needed. Today's Economist: Bruce Bartlett: Keynes and Keynesianism 2013-05-14T04:01:32Z Slam 40 Billion every 30 days Makes Keynesians feel good, so many ways Milk the middle class to keep from running out. The Federal Reserve launches QE3: The power of positive thinking 2012-09-13T21:11:28Z That is not the monetarist stance but the Keynesian stance on monetary policy. Monetary policy: A victory, and a test 2012-09-14T19:13:01Z This line of argument is consistent with standard New Keynesian theory. Inflation: The global output gap 2012-09-19T17:00:29Z How did we get in this mess if New Keynesians really understand the economy? Wage flexibility: No wriggling out of trouble 2012-09-11T17:20:27Z Traditional Keynesian economics predicts that a big government deficit boosts growth. Will the Stock Market Keep On Rising? 2012-09-11T13:05:30Z This whole idea of "value growth" in the financial markets, which precipitates the burgeoning of debt, is NOT Keynesian. The Federal Reserve launches QE3: The power of positive thinking 2012-09-13T21:11:28Z In response to the Financial Panic of 2008, most policymakers and many economists, previously disposed to free enterprise capitalism, lost their heads and reverted to crude Keynesian type. The Wonders of Wealth, the Path to Poverty 2012-08-30T15:10:06Z Another example: the fiscal cliff would put millions of Americans on the alternative minimum tax, which Keynesian analysis said would shrink the economy solely because it collected more revenue. Today's Economist: Casey B. Mulligan: Is the Fiscal Cliff a Big Deal? 2012-08-29T10:00:47Z On the one hand, there are Democrats who accept the Keynesian notion that counter-cyclical spending is essential for spurring growth and job creation in times of economic distress. Why Obama should run on the success of the stimulus 2012-08-27T17:12:49Z Keynesian ideas have come to dominate much of the academic and policy world, but the Occupy and Tea Party movements make clear that there is increasing interest in previously ignored radical ideas. It’s the Economy: Prime Time for Paul Ryan’s Guru (the One That’s Not Ayn Rand) 2012-08-21T15:50:59Z Keynesians would argue that Beijing has the tools to stoke aggregate demand. Economic View: Two Ways to See China’s Problems - Economic View 2012-08-11T19:31:04Z But the old Keynesian lesson about the zero bound is still valid. Monetary policy: Rethinking macro 2012-07-26T19:59:10Z The issue is creating a lot of fervor on both sides of the debate while also illustrating the heart of the political divide: “Classical” versus “Keynesian” economics, which separate Republicans from Democrats. Presidential Race: Classical Divide or Limited War? 2012-08-09T16:48:37Z But you don’t have to be a raging Keynesian to have trouble with Laffer’s argument. Arthur Laffer’s Anti-Stimulus Curve Ball is a Foul 2012-08-09T13:00:53Z The narrower of the two is a reminder that, for all its unpopularity, a Keynesian response to an economic crisis really can make a difference. Capital Ideas: Why Washington Is Doing So Well 2012-08-04T16:34:05Z In the Austrian perspective, the government has less ability to set things right than in Keynesian theories. Economic View: Two Ways to See China’s Problems - Economic View 2012-08-11T19:31:04Z As a result, by the early 1980s, Mr. McCracken, like other economists, questioned the Keynesian assumptions that had been dominant since the war. Paul W. McCracken, Adviser to Presidents, Dies at 96 2012-08-04T01:21:49Z Second, Alistair Darling's mix of deficit reduction and Keynesian economics was working. Letters: The Tory plan to crash the economy 2012-08-01T20:00:01Z Laffer, he argues, “is embarrassing himself” with his WSJ op-ed by pretending that Estonia, Ireland, the Slovak Republic, and Finland have been ruined by an excess of Keynesian zeal. Arthur Laffer’s Anti-Stimulus Curve Ball is a Foul 2012-08-09T13:00:53Z When his “Monetary History” was published in 1963, a Keynesian view held sway: that inflation was a supply-side creation, driven by input costs. Free exchange: The Chicago question 2012-07-26T15:11:14Z For Western economies, the Keynesian view is much more popular than the Austrian view among mainstream economists. Economic View: Two Ways to See China’s Problems - Economic View 2012-08-11T19:31:04Z On the basis of these insights, Keynesians came to dominate the early postwar economic order. Monetary policy: Rethinking macro 2012-07-26T19:59:10Z "A classic Keynesian stimulus plan does not seem to us to be the best way forward," he said. Analysis: Hollande's growth drive dogged by reality of austerity 2012-07-25T09:01:16Z We need to agree internationally, however, to return to Keynesian economics to move forward, otherwise nothing will change. Letters: Cameron cools on climate change 2012-07-24T20:00:05Z But would Keynes be today what is described as a Keynesian? A Point of View: What would Keynes do? 2012-07-21T23:52:09Z Keynesian economics holds that aggregate demand — the sum of all consumption, investment, government spending and net exports — drives stability, and that government can and should help in difficult times. Economic View: Two Ways to See China’s Problems - Economic View 2012-08-11T19:31:04Z Keynesians suggested that “incomes policies” or wage and price controls, could fix the problem, while Friedman’s monetarists argued that only the Fed could bring inflation to heel. Monetary policy: Rethinking macro 2012-07-26T19:59:10Z The Keynesian school sees that the aggregated response of rational individuals might have perverse outcomes, as in the paradox of thrift, so calls on the government to take action in response. Economic history: Muddled models 2012-07-20T09:47:55Z |
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