cato.org - 1/31/2009
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This article appeared in the National Post on January 29, 2009 Federal policymakers are moving ahead with a huge $800-billion stimulus plan to return the U.S. economy to growth. Will it work? Decades of macroeconomic research suggest that it won't. Indeed, the revival of old-fashioned ...
gregmankiw.blogspot.com - 2/7/2009
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gregmankiw.blogspot.com —
As I previously noted , the older (and
presumably wiser) John Maynard Keynes was skeptical of using...
infrastructure projects as a countercyclical tool. NYU economist Mario Rizzo now brings to my attention that the mature Mr Keynes also favored the ...
(more)
The Mature Keynesian Perspective II
chequer-board.net - 2/2/2009
chequer-board.net - 1/29/2009
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Another Critique Of Keynesian Stimulus
A Chequer-Board of Nights and Days —
Courtesy of Ike Brannon and Chris Edwards . A key passage follows: Keynesians thought that fiscal stimulus would work by counteracting the problem of sticky wages. Workers would be fooled into accepting lower real wages as price levels rose. Rising nominal wages would spur added work efforts and increased hiring by businesses. However, later analysis revealed that the government can't routinely fool private markets, because people have foresight and they are generally rational. Keynes erred in ignoring the actual microeconomic behaviour of individuals and businesses. The ...
Another Critique Of Keynesian Stimulus
RedState: Conservative News and Community —
Courtesy of Ike Brannon and Chris Edwards. A key passage follows:
Keynesians thought that fiscal stimulus would work by counteracting the problem of sticky wages. Workers would be fooled into accepting lower real wages as price levels rose. Rising nominal wages would spur added work efforts and increased hiring by businesses. However, later analysis revealed that the government can’t routinely fool private markets, because people have foresight and they are generally rational. Keynes erred in ignoring the actual microeconomic behaviour of individuals ...
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The Keynesian moment
krugman.blogs.nytimes.com 11/30/2008 — Greg has this exactly right:
IF you were going to turn to only one economist to understand the problems facing the economy, there is little doubt that the economist would be John Maynard Keynes. Although Keynes died more than a half-century ago, his ...
Obama’s Keynesian Error
chicagoboyz.net 12/30/2008 — Obama wants to spend tax money to “create” jobs in the sagging econom y. [h/t Instapundit ] He is clearly working from a keynesian model in which government borrows saved money and hires unemployed people to do make work. The employed ...
Obama's Mistake
politicalwire.com 1/20/2009 — A Political Wire reader notes that President Obama actually made a factual mistake in his inaugural address when he said, "Forty-four Americans have now taken the presidential oath."
It's actually 43. Although Obama is the 44th president, President ...
Obama and the Keynesian Revival
corner.nationalreview.com 1/13/2009 — There was a lot of chatter over the last few days about this Politico story suggesting Obama's prospects might not be so hot, and as such he's going to move slowly and cautiously on universal health care, carbon caps, and especially tax increases. ...
How Keynesian Stimulus Works
agonist.org 11/19/2008 — One of the most important ideas of 20th century economics was Keynes demonstration that Say's Law does not hold for whole economies. Say's law argued that economies will right themselves - tend to equilibrium - at full production. Keynes showed that ...
McCain to Obama: Going After Limbaugh a Mistake
thepage.time.com 1/30/2009 —
Former rival tells “Fox and Friends” Friday he can't understand why the president would go after the conservative radio king.
“He has a very wide viewing audience. He is entitled to his views. People listen very carefully to him... I don't know ...
Some unpleasant Keynesian arithmetic
rodrik.typepad.com 12/5/2008 — How much of a boost to economic activity will a fiscal stimulus provide? For those who believe that we have entered a Keynesian world of shortage of aggregate demand--me included--the answer depends on the Keynesian multiplier. The size of this...
Greg Mankiw's Blog: The Mature Keynesian Perspective
gregmankiw.blogspot.com 1/28/2009 — Via NYU prof Mario Rizzo , here is John Maynard Keynes of 1942, six years after The General Theory : Organized public works, at home and abroad, may be the right cure for a chronic tendency to a deficiency of effective demand. But they are not capable ...
Tax issues shadow Obama health nominee Daschle —
Reuters: Politics 1/31/2009
WASHINGTON (Reuters) - President Barack Obama's choice to spearhead U.S. healthcare reform, Tom Daschle, paid more than $100,000 in back taxes for a three-year period, setting up a potential roadblock to his nomination, documents showed on Friday.
...
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