Keynes

In Graham Moore’s The Wealth of Shadows, John Maynard Keynes is a hero for his monetary manipulations. However, in the real world, the economics of Keynes has brought economic ruin.

Ludwig von Mises differed with J.M. Keynes on just about every important economic issue. That Keynes is better known is not to his credit.

One of the legacies of Keynesian thought is the belief that war is “good for the economy.” While war may help enable employment, nonetheless, its overall legacy is destructive, and even the jobs war “creates” are economically undesirable.

One of the legacies of Keynesian thought is the belief that war is “good for the economy.” While war may help enable employment, nonetheless, its overall legacy is destructive, and even the jobs war “creates” are economically undesirable.

John Maynard Keynes’s General Theory was the “Bible” of economics and Roger was the devil’s advocate.

Keynesians claimed that stagflation—rising price levels and increasing rates of unemployment—couldn’t happen. Then it happened time and again, something predicted and coherently explained by Austrian economists.

President Trump’s plan to “rebuild” Ukraine following the destruction from warfare with Russia is a combination of Keynesianism and crony capitalism.

A. Mitchell Innes—a chartalist pioneer—wrote a pamphlet “What Is Money?” (1913) which found a credulous and ideologically sympathetic audience in J. M. Keynes.

While J.M. Keynes likely is the most influential economist of our age, his economics were that of inflation, statism, and outright central planning.

Keynesian orthodoxy claims that cuts in government spending mean less “aggregate demand,” and less “aggregate demand” leads to recessions. Economic experience, however, shows us this is a false theory, something Austrian economists have known for a long time.