The Great Recession is now being mentioned in the past tense, which is progress of a kind. During its course … Continue reading “A monetarist explanation of the Great Recession”

Conventional economics has it that businesses adjust their investment spending decisions according to changes in the cost of capital.  At … Continue reading “Monetary policy: overrated”

In my view, Say’s Law may be the single most important principle in economics. But it is a principle that … Continue reading “Keynes’s disastrous contribution to economic theory”

The text of the first edition of Free Market Economics: An Introduction for the General Reader was written in a … Continue reading “Fiscal stimulus policies were doomed to fail”

The recent economic crisis has destroyed some of the supposed ‘certainties’ of economic theory and policy. Both are in question … Continue reading “From Crisis to Confidence: Macroeconomics after the Crash”

Over the past three years, the debate over the coalition’s deficit reduction plan and the sluggishness of the subsequent recovery … Continue reading “We mustn’t delude ourselves about the scale of the crisis Britain went through”

A lot of people are looking to economic history for help in understanding the current economic situation. Most attention is … Continue reading “Lessons from the ‘Long Depression’”

Thirty years ago, the economics profession was dominated by naive Keynesians. The author of the standard textbook at the time, … Continue reading “No Case for Plan B”