The statement was, at best, ambiguous. Its political consequences more profound. George Osborne said he will not hit his target … Continue reading “Our new Prime Minister must resist the temptation of Keynesianism and maintain fiscal sanity”

I’ve written quite a bit about ‘neoliberalism’, not least in my 2009 book The neoliberal revolution in Eastern Europe. My … Continue reading “Don’t conflate ‘neoliberalism’ with ‘neoclassical economics’”

History doesn’t repeat itself, but it does rhyme. On 12 June, 79 economists wrote to the Guardian condemning George Osborne’s plans … Continue reading “Hysterical Keynesians need to ditch the hyperbole if they don’t want to be ignored”

Sixty years ago, Sir Antony Fisher founded the Institute of Economic Affairs (IEA), realising an idea given to him by … Continue reading “Sixty years on: Why the battle for a free society is still yet to be won”

What is striking about Paul Krugman’s recent article in the Guardian criticising the British ‘austerity culture’ is the complete lack … Continue reading “Where is Krugman the economist?”

Which school of economic thought has been vindicated by the macroeconomic performance of the UK over the past five years? … Continue reading “The final retreat in the fiscal stimulus debate”

Robert Peston is currently running a piece entitled: ‘Who to trust – business leaders or economists?’ regarding the election and … Continue reading “Austerity and silly surveys”

Government spending on infrastructure is a subject on which Keynesians and Neoclassicists tend to agree. The former are interested in … Continue reading “Infrastructure investment and economic growth”

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”