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.
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.
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.
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.
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.
Between 1909 and 1913, Keynes was the most important defender of British monetary imperialism in India. His faithful defense of the British Empire in those early years allowed him to become the century’s most influential economist after the war.
Keynes's Malthusianism indicates that he had a defective understanding of the division of labor and the law of returns. Beyond that, his population policies reveal the totalitarianism inherent in the Keynesian vision.
