What Would John Maynard Keynes Have Said About Stimulus Spending?

To the Great Depression and the Great Recession, we can now add coronavirus stimulus spending as examples of John Maynard Keynes’s philosophy.

Everything We Need to Know About Global Economic Risk

Concerned with a shift away from traditional multilateral institutions and free trade, the World Economic Forum identifies our global economic risk.

Why It’s Tough to Make Stock Market Predictions

The long term increase of the S&P 500 and the Dow Industrials misleadingly entices investors to believe that it’s easy to make stock market predictions.

The Surprising Lessons From Economic Crises

For all economic crises, some economists tell us, “This time it’s different,” while others disagree with their new solutions.

How We Primed the Pump

When President Trump refers to priming the pump, we can think of the Great Depression, the Great Recession and deficit spending that can fuel the economy.

John Maynard Keynes and the Generational Impact of Entitlements

Before seeing how we are benefiting unequally from entitlement programs like Social Security and Medicare, let’s start with some history. During 1934, with unemployment high and production low, British economist John Maynard Keynes was reported to have crumpled up a pile of…

Connecting Abigail Adams to Janet Yellen

Reading about “touch generations” in Sam Arbesman’s Wired Magazine blog, I realized that Abigail Adams and Janet Yellen were connected. Different generations touch when one’s birth year coincides with someone else’s death. Born in 1744, Abigail Adams died in 1818, the year that Karl Marx was…

Human Capital: 20th Century Time Use and Jelly Beans

If you live close to the average of 79 years, using 28,835 jelly beans to represent each day, here is how you might spend your life: In a 1930 essay, “Economic Possibilities for Our Grandchildren,” economist John Maynard Keynes predicted…

Election Economics: What To Know For The First Presidential Debate

Presidential debate moderator Jim Lehrer said there would be six 15-minute segments in the first presidential debate on October 3rd. Devoting the entire first half to “the economy,” he will also cover healthcare, the role of government, and “governing.” Like the…

Election Economics: Obama’s Keynesian Message

Comparing Obama/Biden and Romney/Ryan economics, people name John Maynard Keynes and Friedrich von Hayek. Having looked at Hayek several weeks ago, let’s turn to Keynes now. During 1934, with unemployment high and production low, British economist John Maynard Keynes was…