Nobel prize winning economist Paul Krugman is, of course, a Keynesian. All economists – or practically all – are now Keynesians. So are all government officials. “We’re all Keynesians now,” announced Richard Nixon in the ’70s…
October 21st, 2008 | Bill Bonner | 3 comments | ContinuedAll Posts Tagged With: "Keynesian"
Keynesian Economists Bluff in Global Economic Gamble
One step forward, three steps back. That’s what the trading action looks like in the markets now. For every big one day advance of 1% to 5% or more, you’re going to get a corresponding sell off equal or greater to that. It’s not normal to see these kinds of one-day moves. But these aren’t normal times. We’re back on the edge of a credit abyss. Just when investors were convinced that the Gordon Brownification of the world’s banking sector had put the credit crisis behind us, we have more bad news.
October 16th, 2008 | Dan Denning | 3 comments | Continued
Austrian vs. Keynesian Economics & Bastiat’s Broken Windows
The long-standing battle between Austrian and Keynesian economists is one that will most likely rage on forever. But why? Well, as Lew Rockwell points out, seeing the fundamental differences between these two schools of thought can be fairly easy. Just look at Frédéric Bastiat’s allegory that has come to be known as the story of the broken window.
February 15th, 2008 | Lew Rockwell | 25 comments | Continued
