Investopedia is a really good website to go to for the conventional economic view. Being that, it is less than favorable to John Maynard Keynes and Keynesian economics in many of it’s articles. In many cases they state things he supposedly got wrong or go as far as putting words in his mouth like, . . . → Read More: Investopedia Unabshadly Comes Out in Favor of Keynesian Economics
Whoever claimed that there are 3 kinds of lies: Lies, Damn Lies, and statistics really got it. I ran across a silly blog post over at seeking alpha. It was old, but it was so stupid it was worth bringing up. The writer was trying to make an argument against classic keynesian economics. His . . . → Read More: Dumbest. Anti-Keynesian economics. Article. Ever!
Nothing makes an argument more frustrating than when 2 people are using the same words to argue over 2 different things. When discussing strategies to get out of the recession, market fundamentalists (usually conservatives) argue to let the markets work. Others, usually liberals who sorta-kinda understand Keynesian economics, argue that we need more stimulus . . . → Read More: Unemployment Vs. Economic Efficiency
“If the government creates money all it’ll do is cause inflation and we’ll all suffer.” This is one of the deadliest lies we’ve been told for the last 40 years. For centuries, philosophers and economists thought that any increase in money would always increase prices. John Maynard Keynes pretty much set the record straight on . . . → Read More: The Useless Quantity Theory of Money