Mises Wire

Keynes Said Inflation Fixed the Problems of Sticky Wages. He Was Wrong.

Labor and Wages

Blog07/07/2021

In Keynes's day, wages were being artificially inflated by labor union contracts. Unemployment rose. But then Keynes decided inflation would solve the problem by lowering real wages. Here's why that's a bad idea. 

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Keynes Thought Scarcity Would Disappear in the Near Future. Boy, Was He Wrong.

Book Reviews

Blog05/10/2021

It is not surprising that Keynes looks at the economy from the perspective of a government bureaucrat; this is exactly what, for a significant part of his life, he was. It was for his bureaucratic "service," not his economics, that he was elevated to the peerage.

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Krugman's Keynesianism Has Made Him Wrong about Much More Than Economic Theory

Blog07/16/2020

Paul Krugman famously predicted in 1998 that the internet would prove to be no more important than the fax machine. This error proceeds straight from his lack of economic understanding.

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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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Krugman: We Need More Unemployment—to Save Us from Unemployment

Booms and BustsLabor and WagesOther Schools of Thought

Blog05/19/2020

Paul Krugman is now claiming that reopening the economy and allowing people to go to work almost surely will cause a depression.

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Keynesian Fallacies Are Not Just Wrong, but Dangerous

Big GovernmentTaxes and Spending

Blog05/01/2020

As the federal government embarks on racking up an estimated $3.7 trillion in extra debt this fiscal year alone, it’s critical for the public to understand just how destructive such action will be.

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Keynes Called Himself a Socialist. He Was Right.

BiographiesSocialismWorld History

Blog04/10/2020

John Maynard Keynes's supporters still insist that he was a mild and benign liberal. In truth, Keynes supported the blood-soaked Soviet regime and called himself a socialist. 

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Keynes and the Euthanasia of the Rentier

Financial MarketsCapital and Interest TheoryOther Schools of Thought

Blog04/04/2020

Over eighty years ago, Keynes condemned the rentier and welcomed his future disappearance. Following in his footsteps, politicians and central bankers today are ever closer to effectively bringing this about.

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