Duncan has a very long and detailed article on his blog on cheap money and interest rates. He starts from Keynes' premise that rentier capitalism is not inevitable and that a form of capitalism can exist where capital is not scarce and does not command high interest rates. Duncan pays particular attention to the policies of the Attlee government, which kept interest rates low, making ...

I hinted in the last post that if the budget deficit had been larger in America, then the housing bubble wouldn't have been as big. I now see that the "Stumbling & Mumbling" blog has made a similar argument. To state the argument in more explicit terms: The housing bubble was the result of too low interest rates, something which encouraged lending to the housing sector which ...

The global crisis has undermined the neo-liberalist phase of capitalism that dominated the last 30 years of the world economy. It has likewise challenged the hegemony of neo-classical economics as the theoretical rationale of neo-liberalism’s celebration of private enterprise and markets. The form this challenge takes is a revival of Keynesian economics. As the crisis requires states everywhere ...

... ourselves embark upon imperialistic enterprises of our own.Indeed, the creator of the theory of military Keynesianism himself warned that those who followed such thinking would fearmonger, appeal to patriotism and get us ... Independent wrote in 2004:Military-fuelled growth, or military Keynesianism as it is now known in academic circles, was first theorised by the Polish economist Michal Kalecki in ...

... the book is Bartlett at the top of his form. It is an able, even elegant, exposition of Keynesianism, its rise and fall. His core assertion is not exactly new: that Keynes was a conservative ... ever seen. His analytical clarity also allows him to present a compelling account of where and how Keynesianism went off the tracks. Most of its defenders in the Democratic party had abandoned it by the ...

... militarism around the world. We are in 130 countries and 700 bases around the world and we cannot sustain these. It's pumped out by the left and the right. There is conservative Keynesianism and liberal Keynesianism which always fails and gives us the financial crisis we are in."Ron Paul has it correct. Mike "Mish" Shedlock Click Here To Scroll Thru My Recent Post List Mike ...

... on education policy and the stimulus bill as a “particularly dated defense of Keynesianism,” and asserts that borrowing money to prevent pro-cyclical mass layoffs and ... the reality of current events. Over the last few decades, it’s become fashionable among some on the right to use “Keynesianism” as an implicitly derogatory term. Then the housing bubble burst, the stock ...

... militarism around the world. We are in 130 countries and 700 bases around the world and we cannot sustain these. It's pumped out by the left and the right. There is conservative Keynesianism and liberal Keynesianism which always fails and gives us the financial crisis we are in."Ron Paul has it correct. Mike "Mish" Shedlock Click Here To Scroll Thru My Recent Post List Mike ...

... of Marxian and Keynesian theoretical traditions. In addition to his writings on Marxism and Keynesianism per se, he has made important contributions to our understanding of macroeconomics, development ... tasks for post-war big government capitalism, as established by mainstream Keynesianism, were to stabilise the overall level of spending and counteract the fluctuations in private spending (and ...

... , it might have appeared as if capitalism were under control.  I have in mind the period of populist Keynesianism, from the period of FDR's New Deal in the '30s to LBJ's Great Society in the ... of power in unions, and so the owning class was obliged to create a regime of populist Keynesianism for the sake of economic growth.  Things are no longer so comfortable for the working ...

... Protection - Asset Management - Asset Allocation Related posts:China Lectures Australia on Failures of Keynesianism | Visit …Online Games Reap Big Profits in China | Offshore Asset Protection &# ... Protection - Asset Management - Asset Allocation Related posts:China Lectures Australia on Failures of Keynesianism | Visit …Online Games Reap Big Profits in China | Offshore Asset ...

... 's a nice way to say "a completely crazy view of the world?" But Krugman's alternative, behavioral irrationality, is no alternative at all, and neither is Old Keynesianism. Old Keynesianism is internally inconsistent and empirically discredited, and irrationality isn't a coherent basis for economic theory... nor does behavioral economics actually demonstrate irrationality. ...

... supported institutions, laws, and economic measures upon which our money powers depend. Keynesianism is the highest form of phony economics yet developed to our benefit. The highly ... no longer possible to conceal our imposing institutions with the appearances of free competition. Keynesianism rationalizes this omnipotent state which we require, while retaining the privileges of private property on ...

... Shiller know that managing these animal spirits requires the steady hand of government--simply allowing markets to work won't do it. In rebuilding the case for a more robust, behaviorally informed Keynesianism, they detail the most pervasive effects of animal spirits in contemporary economic life--such as confidence, fear, bad faith, corruption, a concern for fairness, and the stories we tell ...

... and that meant rigor, modernity. To add insult to injury, Mises wasn’t even refuted by Keynes and his ilk. He was ignored. Fast forward 70-some years, during which we saw Keynesianism’s repeated disappointments, the end of the gold standard, persistent inflation with intermittent inflationary recessions and banking crises, culminating in Alan Greenspan’s "Great Moderation& ...