Currently viewing the tag: "Keynesian macroeconomics"

Paul Krugman is the high priest of Keynesianism and modern interventionism, of economic improvement through inflation and budget deficits. As such he is bête noir among us libertarians and Austrian School economists. What makes him so annoying is his unquestioning, reflexive and almost childlike enthusiasm for state intervention, even in the face of its obvious […]

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 Keynesian and other mainstream economists cannot explain the present crisis. That doesn’t seem to bother them. All they can offer is a description of symptoms, such as with their favourite phrase of lack of ‘aggregate demand’, which, if you think about it, doesn’t really explain anything. How come demand dropped? Why did it drop now […]

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