Conrad Black writes Battle of the Cliches in The National Review excerpt: In economics, Keynes and Hayek have become simplistic labels, Keynes for spending out of recessions with deficit financing and Hayek for economic shrinkage of government. In fact, 75
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from Scott Grannis in his blog The Calafia Beach Pundit, What happened to all the profits? excerpts: Here’s the failure in a nutshell: The government can’t stimulate the economy by borrowing from Peter and sending a check to Paul, because
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One of the recurring general themes in my years of blogging is the flawed logic in many of the ideas proposed by some of our most educated and brightest commentators and policy makers. There are many books that address the
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Economist Scott Grannis writes in his excellent blog, Calafia Beach Pundit Thoughts on Why Real Growth Has Been Disappointingly Slow, 4/27/12. Excerpts: As a corollary, while central banks have the ultimate control over our inflation destinies, they have very little
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In his book comparing the Chicago and Austrian schools of economics, Mark Skousen clarifies the various schools of thought by their faith in Capitalism. Marxists have no faith in capitalism. In the world of capitalism they are the atheists. “To
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A debate between the relative merits of a demand side and supply side stimulus is an oversimplification of the dynamics of our economy. Is our economy more demand driven or supply driven? The answer, like so many answers to questions
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The work of noted economist John Maynard Keynes is used to justify a bigger government role in the economy. After the recent (or more accurately current) crisis it is understandable that many would return to this economist. Yet most who
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“If one truth concerning economic crisis has been established… it is that they are typically brought on by cheap money- i.e., low interest rate policies that encourage excessive borrowing, excessive credit expansion, imprudent speculation, and all the distortions and instabilities
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