Tags » Keynes


Premier Alexis Tsipras kan het referendum winnen, de held worden van de linkse Grieken. In een Grexit geloof ik niet. De EU heeft geen keus, zal Griekenland binnenboord moeten zien te houden. 187 more words


Mises's Unwitting Affirmation of the Hawtrey-Cassel Explanation of the Great Depression

In looking up some sources for my previous post on the gold-exchange standard, I checked, as I like to do from time to time, my old copy of… 2,250 more words

Gold Standard

Nobel-Prize-winning Economist Amartya Sen Considers the Consequences of Austerity

Source: The New Statesman, June 4

Amartya Sen is Professor of Economics and Philosophy at Harvard University. He recalls Keynes’ book, The Economic Consequences of the Peace, 244 more words

Gold Standard or Gold-Exchange Standard: What's the Difference?

In recent posts (here and here) I have mentioned both the gold standard and the gold-exchange standard, a dichotomy that suggests that the two are somehow distinct, and I noted that the Genoa Conference of 1922 produced a set of resolutions designed to ensure that the gold standard, whose restoration was the goal of the conference, would be a gold-exchange standard rather than the traditional pre-World War I gold standard. 2,440 more words


Keynes, the Great Depression, and the Coming Great Default

Source: Gary North, by Gary North

Ideas have consequences, but not in a social vacuum. There are no social vacuums.

Ideas that are held by a minority of fringe academics or polemicists sometimes become the foundations of victorious social movements after existing social institutions are undermined by a social crisis. 760 more words

Financial/Societal Collapse And Dependence

The Great, but Misguided, Benjamin Strong Goes Astray in 1928

In making yet further revisions to our paper on Hawtrey and Cassel, Ron Batchelder and I keep finding interesting new material that sheds new light on the thinking behind the policies that led to the Great Depression. 2,635 more words


Brad DeLong misses the “put”

In “Why Small Booms Cause Big Busts”, DeLong writes:

As bubbles go, it was not a very big one. From 2002 to 2006, the share of the American economy devoted to residential construction rose by 1.2 percentage points of GDP above its previous trend value, before plunging as the United States entered the greatest economic crisis in nearly a century.

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Monetary Policy