Keynes

At the heart of Keynesian business cycle theory is the so-called liquidity trap. Contra Keynes, however, economies don't falter because a sudden increase in the demand for money.

Fiat money is the fuel of the modern Leviathan state. If we wish to have freedom, we must have sound money.

Keynesian economists fantasize that a market economy cannot "gain traction" without "stimulus" schemes from the government. In the end, the only thing stimulated are inflation and recession.

Poplular history says that massive government spending—made possible by ending the gold standard—ended the Great Depression. As usual, popular history is wrong.

Keynesian economists fantasize that a market economy cannot "gain traction" without "stimulus" schemes from the government. In the end, the only thing stimulated are inflation and recession.

John Maynard Keynes derided gold-based money as a "barbarous relic," yet it was gold that enabled a long regime of honest money -- and the advance of civilization.

John Maynard Keynes derided gold-based money as a "barbarous relic," yet it was gold that enabled a long regime of honest money -- and the advance of civilization.

Keynesian economists claim that deflation is as bad or worse than inflation. But deflation not only reverses inflation's bad effects but also allows new wealth creation.

Keynesian economists claim that deflation is as bad or worse than inflation. But deflation not only reverses inflation's bad effects but also allows new wealth creation.

All too often, elite mainstream economists' policy recommendations are built on fallacies. We shouldn't listen.