Keynes broke the first law of economics hence was a fool
For simplicity's sake I have crunched ALL of economics into just two laws (here). You understand these two laws and you understand the economic way of thinking. Keynes broke the first law (that there...
View ArticleExcellent exposition of Keynesian policy disasters that have ruined the USA
Robert Genetski has analysed the financial crisis in two excellent articles (this) and (this), in October 2011. Both are worth reading. The conclusion of his second article reads: "As long as...
View ArticleWhy recessions have nothing to do with underconsumption
The concept of insufficient aggregate demand is strongly embedded in "modern economics". It will, however, gall most "trained" "modern" economists to know that their delusion that recessions have...
View ArticleSteve Kates had predicted in 2002 that Keynesian Alan Greenspan would bring...
The more I read Steve Kates's work, the more I learn. Key elements of an excellent article by him, written in 2002, are provided below. That Alan Greenspan thinks of the General Theory as his font of...
View ArticleKeynesian “stimuli” are pure bunkum. Further proof if any was needed.
Watch this very short video:
View ArticleBen Bernanke couldn’t recognise signals obvious to others. How can he help...
Watch the first few minutes. This was news to me (although this is very old!)
View ArticleWhy is Keynesianism so popular among “economists”?
Saurabh has asked a good question: Why is Keynesianism so popular? Here's my attempted response. Happy to receive any other thoughts. Keynesianism has the advantage of providing mathematical “tools”...
View ArticleMeghnad Desai, from the Labour (Fabian Socialist) Party – no less, decries...
Meghnad Desai (formerly of the London School of Economics) spoke at the Melbourne University a few years ago. I came out feeling that he was a sensible person, despite being a Fabian Socialist (Labour...
View Article“I am not, nor will I ever be, a Keynesian”. And I agree.
I came across Richard Epstein’s article in Spring 2010 edition of the Harvard Journal of Law & Public Policy, entitled, ‘Why I will never be a Keynesian’. Fortunately, this article is publicly...
View ArticleThe melting pot of the world is now ready for a MASSIVE melt down
This article in The Australian today is mind-boggling. If true (and I have no reason to doubt the facts it cites), then the world is in for a huge shock in the coming years. Maybe sooner than we...
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