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Keynesian Economics

Theoretical Economics: My Time With Friedrich Hayek -- and Why Understanding Him and Keynes Is Central to This Election, Part 2

Steve Mariotti | Posted 12.26.2012 | Business
Steve Mariotti

Not quite a "Hayekian," because I disagreed with the master that mathematics could not be used to illuminate theory, and distrustful of Keynesian theory, which advocated massive government spending and deficits -- I felt I had no intellectual home.

Theoretical Economics: My Time With Friedrich Hayek -- And Why Understanding Him and Keynes Is Central to This Election, Part 1

Steve Mariotti | Posted 12.25.2012 | Business
Steve Mariotti

As we seek to choose our next president, we are also still trying to decide, as a nation, whether to risk our still-fragile economic recovery on the competing theories of Keynes and Hayek.

Austerity Has Failed in Europe, but What's Next?

Rajan Menon | Posted 11.30.2012 | World
Rajan Menon

To many Europeans, pronouncements that a monetary union without a fiscal counterpart could only have ended in a train wreck smack of an "I told you so" smugness. There's a bigger problem with this conceited view.

10 States Where Wages Are Falling

The Huffington Post | James Sunshine | Posted 07.04.2012 | Business

If you were expecting a raise from your boss, think again. Sure, the job market sort of picked up at the end of last year, but Americans' wages ac...

Sylvia's Grand Pursuit Is a Grand Gift

Laurence J. Kotlikoff | Posted 08.18.2012 | Books
Laurence J. Kotlikoff

Sylvia Nasar's Grand Pursuit is a marvelous intellectual and social history of economics, economists, and economic times during the century when economics came into its own, 1850 through 1950.

It's All Bush's Fault

Al Checchi | Posted 08.17.2012 | Politics
Al Checchi

Having failed to change public perception that we are on the wrong track, if the best President Obama can do is blame his predecessor and make excuses, he is in far greater trouble than the U.S. economy.

Krugman: Reagan Was A Keynesian

The New York Times | Paul Krugman | Posted 06.08.2012 | Politics

There’s no question that America’s recovery from the financial crisis has been disappointing. In fact, I’ve been arguing that the era since 2007...

Mitt Romney's Gaffe Fatigue

Jason Stanford | Posted 07.30.2012 | Politics
Jason Stanford

It's getting to the point where everyone has come to an understanding that nothing Mitt Romney says is meant to be taken seriously. Case in point: Romney's interview with Time's Mark Halperin.

Austerity Offers Europe Their Only Hope

Michael Pento | Posted 07.17.2012 | Business
Michael Pento

Blaming a recession on the idea that an insolvent government was finally forced into reducing its debt is like blaming a morning hangover on the fact that you eventually had to stop drinking the night before.

Bloomberg Businessweek on Obama, Economic Steward

Robert Teitelman | Posted 05.28.2012 | Business
Robert Teitelman

Mostly, it seems to mean that if Obama doesn't fully embrace your economic faith, then he has no faith at all, that he's a sort of economic atheist. But that's not the case at all.

The Pension Wars

Richard Brodsky | Posted 05.27.2012 | Politics
Richard Brodsky

Budget crises cause short-term dislocations. Pension reductions may be inevitable in the short-term. We need a national dialogue on these questions that includes advocates who aren't afraid to defend a decent retirement for public workers.

Obama's Not So New Deal

Tom Silva | Posted 04.28.2012 | Politics
Tom Silva

The truth is that top-down government spending is as old as capitalism and not an invention that starts with Roosevelt and the WPA of the 1930s.

The World's Leading Debtors and America's Exploding Debt Burden

Howard Steven Friedman | Posted 04.28.2012 | World
Howard Steven Friedman

How do we increase federal revenue in ways that don't hurt the fragile economy? How do we control federal spending without stomping on the sprouts of economic growth?

Mitt Romney: 'Closet Keynesian'

The New York Times | Paul Krugman | Posted 04.25.2012 | Politics

Speaking in Michigan, Mr. Romney was asked about deficit reduction, and he absent-mindedly said something completely reasonable: "If you just cut, if ...

Krugman: Austerity Is For Boom, Not Bust Times

The New York Times | Paul Krugman | Posted 03.02.2012 | Business

"The boom, not the slump, is the right time for austerity at the Treasury." So declared John Maynard Keynes in 1937, even as F.D.R. was about to prove...

The Super Committee, Austerity, Stimulus, and Compromise: the Collapse of American Politics

Richard Brodsky | Posted 01.22.2012 | Politics
Richard Brodsky

How deeply do you want to plumb the depths of the collapse of the super committee?

Finding the Right Analogy for the Economy

Jared Bernstein | Posted 12.27.2011 | Business
Jared Bernstein

With the Super Committee meeting, it's time to determine how we should speak about the economy. Some commentators like to analogize government spending to a swimming pool, as if you can only take water from one end and dump it in the other end of the same pool. A dollar that the government spends on stimulus is a dollar someone else won't be spending, so there's no net gain. But this analogy is false. A better way to think of the economy is as a car, with fuel as the demand that propels the car forward. The gas tank is empty, but we've got a tank of gas sitting on the lawn next to the car. If we put the gas in the tank, the car can get started and go somewhere.

Leonhardt on Why the Great Depression Was Good

Robert Teitelman | Posted 12.12.2011 | Business
Robert Teitelman

How can we get back to that marvelous age of the '50s with its amazing economic growth, low unemployment, great equality of incomes and world supremacy? The answer is: suffer through a slump that lasts a decade and that scars every American.

Why We Need a Financial Transactions Tax

John Fullerton | Posted 10.25.2011 | Business
John Fullerton

The truth is simple: A modest financial transactions tax of less than 1 percent would serve as a remarkably efficient tool to achieve needed reform.

Jason Linkins

Paul Krugman Impersonator Uses Google Plus To Make Stupid Arguments In Bad Faith | Jason Linkins | Posted 10.24.2011 | Media

It seems that some hardcore ninny took to the Google+ platform disguised as Paul Krugman and used that venue to disseminate some controversial stateme...

Rick Perry Is a Socialist in a Secessionist Costume

Bob Cesca | Posted 10.18.2011 | Politics
Bob Cesca

Despite his many remarks against the federal government, Rick Perry is in fact responsible for Texas being the second biggest state recipient of stimulus dollars -- ostensibly "redistributed" from tax payers in other states.

Krugman's War Won't Avert Depression

Michael Pento | Posted 10.17.2011 | Business
Michael Pento

Paul Krugman extolled the benefits of war this Sunday on Fareed Zakaria's program Global Public Square. After all, he asserted, only spending equivale...

Why the Jobs Argument Against Military Cuts is Bogus

Robert Naiman | Posted 10.16.2011 | Politics
Robert Naiman

An argument against cuts to projected military spending that is sure to rear its ugly head is that this would cost American jobs. In the current political context, this "jobs" argument is 100% nonsense. Here's why.

Congressman Dennis Kucinich's Briefing to Solve the Debt Crisis

Stephen Zarlenga | Posted 10.11.2011 | Business
Stephen Zarlenga

On Tuesday, July 26th, a day Washington DC was consumed by turmoil and posturing over "solving" a phony budget and debt crisis; in one place in the Capitol there was common sense -- the best America can offer.

Bill Gross: Problem Is 'Insufficient Consumption And investment'

Washington Post | Bill Gross | Posted 10.11.2011 | Business

For a few days there it seemed like President Obama was the master of the bond market. This is a Triple-A nation, he intoned on Monday, and always wil...