"There are more things in Heaven and Earth, Horatio, than are dreamt of in your philosophy."
Factor that causes economy to grow. Includes but is not limited to government expenditures
A busted piggy bank! Photo Credit: MorgueFile.com/mconnors This morning I endured a period of cognitive dissonance while reading a May 2015 fortune.com post entitled Are Americans saving too much of … Read More
Image Credit: Foundation for Economic Education, fee.org Feeling rather morose after writing the post What is the Economy’s Condition?, I was mulling over what I could possibly write to suggest … Read More
Wanted for Bank Robbery Photo Credit: Flickr.com/takomabibelot By now after roughly six and a half years of a … Read More
Federal Reserve Building, Washington DC Photo Credit: Flickr.com/wwarby Despite its impact on our economic well-being, few people seem to know much about Quantitative Easing (QE). QE was a … Read More
Grand Tetons at Jackson Hole, Wyoming Photo Credit: Freeimage.com/Jack Sanders A lot of vital news for the economy came out of two gatherings at Jackson Hole, Wyoming last weekend. … Read More
Evidence of the division between those in the Fed who want tighter money and the Keynesians on the FOMC who want easy money to continue has just appeared. The vice … Read More
Having given the institutional composition and powers of the Federal Reserve, and having given our opinion on what it should be doing and why, we will now look at what it … Read More
In order to understand why the Federal Reserve has chosen its policies of the past three decades, we need to understand the New Keynesians. The response by neoclassical economists to the … Read More
Although we are technically no longer in a recession, the rate of economic growth is so low that the economy for many people seems like it is in recession. Below … Read More
Because of the complexity of the Great Depression, there are several different ways in which you can date the beginning and ending of this immense event. Many people date the … Read More
Rich Danker in the Weekly Standard writes in the guise of a book review about a favorite conservative theme: How a distressed economy in recession, left to its own devices … Read More
After thinking on what I posted yesterday on Say’s law of markets, it seemed to me that the formulation of the law should be given some further thought. Certainly, Say himself was … Read More
The next classical law we will look at is a statement that no self-respecting Keynesian would recognize as a law at all. Say’s law of markets was propounded by Jean-Baptiste … Read More
It seems that some Keynesians, worried by the slow economic growth since we emerged from the “Great Recession” in 2009, are dusting off the old Keynesian idea of “secular stagnation.” Larry … Read More
