Last Wednesday (Dec 26, 2012), I posted the following comment on The Amazingly Popular Bush Tax Cuts by Randall Holcombe:

I love Walter Block and Bill Bennett. In their paper, “Involuntary Unemployment” (Dialogue, Vol. 1, 2008, pp. 10-22), they write on the persistence of Keynesian theory despite its failures to explain real-world economic phenomenon:

The war on cash in Sweden may be stalling. The anti-cash movement has been vigorously promoted by major Swedish commercial banks as well as the Riksbank, the Swedish central bank. In fact, for three of the four major Swedish banks combined, 530 of their 780 office no longer accept or pay out cash. In the case of the Nordea Bank, 200 of its 300 branches are now cashless, and three-quarters of Swedbank’s branches no longer handle cash.

In ABCT and the Community Reinvestment Act (CRA), Peter Klein makes readers aware of new evidence, contra Krugman, that Federal housing policy, and especially the CRA, significantly contributed to the financial crisis.

Austrian business cycle theory explains the general pattern of the boom-bust cycle — credit expansion, lowered interest rates, malinvestment, crash, liquidation — but the particulars differ in each historical case. (Austrians sometimes distinguish “typical” from “unique” features of each cycle.) To explain particular episodes, we appeal to specific technological, regulatory, political, legal, or other conditions.

Neil deMause writes in Slate of “Georgia’s Hunger Games“:

“Fewer than 4,000 adults in the southern state receive welfare, even as poverty is soaring. How Georgia declared war on its poorest citizens—leaving them to fight for themselves.”

He compares Georgia unfavorably with other states, specifically California and Maine.