Category Archives: Keynesian economics
Austerinomics, the Anti-Growth Orthodoxy
Financial FAQs The Federal Reserve Open Market Committee has just said it in the press release from its latest committee meeting in an otherwise ‘moderately’ upbeat announcement: “Household spending and business fixed investment advanced, and the housing sector has strengthened … Continue reading
The Iceland Experiment—A Lesson in Austerinomics
Popular Economics Weekly Today’s parliamentary elections in Iceland will pose a difficult choice for Icelanders. Polls show conservatives have the lead—a so-called Center-Right coalition that was in power when Iceland’s own housing bubble burst and its kronar currency lost most … Continue reading
David Stockman’s Crony Capitalism
Popular Economics Weekly Paul Krugman is being too gentle with David Stockman, whose recent New York Times ‘rant’ glorifies the gold standard and denigrates government for standing in the way of putting “free markets and genuine wealth creation back into … Continue reading
The Decline of the West
Popular Economics Weekly Berkeley Prof Brad Delong has posted a very sobering essay on his website. Because the deficit hawks and austerity advocates now hold sway in both Europe and North America, we could be in for a very prolonged … Continue reading
What Inflation?
Financial FAQs We have seen this before during past budget battles. How much spending is necessary to create future economic growth, and jobs? A corollary is whether the Federal Reserve’s current easy credit policy will create runaway future inflation with … Continue reading
Ryan’s 19th Century Budget Plan
Financial FAQs Republican Paul Ryan’s 2011 budget plan is being trotted out by House Republicans once again. In spite of the sequester cuts and a declining budget deficit, Ryan wants to create even more economic austerity. Representative Ryan and House … Continue reading
Let’s Bring Back American Jobs
Popular Economics Weekly It’s well-known that American job formation isn’t keeping up with economic growth, but not why. It’s mostly because corporations have been retaining more of their profits and sharing less with their employees, so that household incomes have … Continue reading
The Sequester Dilemma—How Much Is Too Much Austerity?
Financial FAQs Come March 1, we will begin to see how much damage the sequester agreement causes. A recent CNBC column by Larry Kudlow illustrates both the misconceptions and reason for the gridlock on avoiding across-the-board spending cuts of some … Continue reading
State of the Union—Why So Few New Jobs?
Popular Economics Weekly President Obama’s State of the Union address was all about jobs. So why have so few been created since the Great Recession? Federal Reserve Vice Chair Janet Yellen gave a recent speech entitled: A Painfully Slow Recovery … Continue reading
Why Shouldn’t the Fed Do More?
Financial FAQs Fourth Quarter Gross Domestic Product growth was a bust. And so cries are rising for the Federal Reserve to do more to promote growth (since Congress and the White House can’t or won’t). Actually the Fed has done … Continue reading
