Macroeconomics Has Lost Its Way
The father of modern macroeconomics was Keynes. Before Keynes there were macro considerations, which were firmly grounded in human action, the personal preferences and…
Read MoreKeynesianism
How magical is the Keynesian multiplier?
For most economists and financial commentators the heart of economic growth is the increase in the demand for goods and services. The view is…
Read MoreFor Keynesians and Austrians, “Uncertainty” Means Two Different Things
By G. P. Manish and Felicia Cowley Keynesian economics has witnessed a remarkable resurgence since the crisis of 2008. The inability of mainstream economics to predict or…
Read MoreFaking it
Thanks to the election of President Trump and his uncompromising attitude to the establishment media, much hot air is being expended on the subject…
Read MoreMerry Christmas from TCC: Treasury Select Committee to examine low interest rates
Next year there will be a parliamentary enquiry into the effects of ultra low interest rates and other mechanisms of radical monetary policy. It…
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Benn Steil: Paul Krugman Doubles Down On Fiscal Expansion Claims Contradicted by Data
“Everything about recent experience,” Paul Krugman says, “suggests that the world desperately needs fiscal expansion to boost demand and … that our sole reliance…
Read MoreThe Left’s Fed Up Makes A Naked Power Grab For Control Of The Fed
The left is undertaking an amazing back door plan to dramatically increase its influence over the Fed’s interest-rate-setting Open Market Committee. The key activist…
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David Stockman: A Messaging Tip For The Donald: It’s The Fed, Stupid!
The Fed’s core policies of 2% inflation and 0% interest rates are kicking the economic stuffings out of Flyover America. They are based on the specious academic…
Read MoreDoes UK need looser fiscal stance to cushion Brexit?
“We are all Keynesians now, so let’s get fiscal” – this is one view according to Ambrose Evans-Pritchard[1] from The Telegraph who believes the…
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The Warren Buffet Economy: How Central Bank Enabled Financialization Divided America
By David Stockman During the 29 years after Alan Greenspan became Fed chairman in August 1987, the balance sheet of the Fed exploded from $200…
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