Keynes

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Keynesians on the Cause of, and Cure for, Depressions

KeynesInterventionismOther Schools of Thought

Blog06/16/2020

Keynes viewed depressions as something that could naturally plague market economies when total spending was insufficient to support full employment. Only with wise oversight could we hope to achieve steady economic growth.

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Keynesian Supply Shocks and Hayekian Secondary Deflations

KeynesBusiness Cycles

11/19/2021Quarterly Journal of Austrian Economics
Long-standing policy advice based on Austrian business cycle theory would be useful in responding to Keynesian supply shocks—aggregate supply shocks that lead to even larger aggregate demand shocks.
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Review: Classical Economic Theory and the Modern Economy

Book ReviewsEconomic PolicyKeynes

08/28/2021Quarterly Journal of Austrian Economics
Steven Kates's new book debunks Keynesian demand-side economics, while striving to resurrect Say’s Law and revive the classical understanding of the economy.
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Keynes’s General Theory: A Solution in Search of a Problem

KeynesSocialism

01/31/2020The Journal of Libertarian Studies
Even on its own terms, the General Theory must considered a failure, for the problem it purports to solve, involuntary unemployment, does not exist.
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The Origin of the Prolonged Economic Stagnation in Contemporary Japan: The Factitious Deflation and Meltdown of the Japanese Firm as an Entity

KeynesMonetary PolicyBusiness CyclesGold Standard

01/21/2020Quarterly Journal of Austrian Economics
While Otaki appropriately criticizes stimulus spending, he inexplicably attributes Japanese stagnation to the failure to follow Keynes.
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