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Keynes’s disastrous contribution to economic theory

17 November 2014
Economic Theory

Keynes’s disastrous contribution to economic theory

Steven Kates
17 November 2014
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”

Fiscal stimulus policies were doomed to fail

8 October 2014
Economic Theory

Fiscal stimulus policies were doomed to fail

Steven Kates
8 October 2014
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”

What to do before the money runs out

14 May 2014
Economic Theory

What to do before the money runs out

Steven Kates
14 May 2014
I am reading the Economist and Financial Times 2013 book of the year, Stephen D. King’s When the Money Runs … Continue reading “What to do before the money runs out”

Debts, deficits and slow growth

25 April 2013

Debts, deficits and slow growth

Steven Kates
25 April 2013
I was given a copy of John Kenneth Galbraith’s 1975 treatise which goes by the name of Money: Whence it … Continue reading “Debts, deficits and slow growth”

Negative interest rates: policy reaches a new low

28 February 2013

Negative interest rates: policy reaches a new low

Steven Kates
28 February 2013
Has Keynesian economics reached the final frontier of idiocy? I may live on the other side of the world, but … Continue reading “Negative interest rates: policy reaches a new low”

‘What a country wants to make it richer, is never consumption, but production’

9 March 2012

‘What a country wants to make it richer, is never consumption, but production’

Steven Kates
9 March 2012
There was a passage in the Wall Street Journal’s Notable & Quotable column the other day from an essay written by John Stuart … Continue reading “‘What a country wants to make it richer, is never consumption, but production’”

Economic theory’s identity crisis: why Keynesianism must go

14 June 2011

Economic theory’s identity crisis: why Keynesianism must go

Steven Kates
14 June 2011
After writing ‘you cannot make an economy grow through public spending’ I received this touching statement of Keynesian faith in … Continue reading “Economic theory’s identity crisis: why Keynesianism must go”

Say’s Law of Markets

28 April 2011

Say’s Law of Markets

Steven Kates
28 April 2011
Only someone with professional training in economics has ever heard of the economic principle now known as Say’s Law of … Continue reading “Say’s Law of Markets”

A Wicksellian monetary policy?

4 April 2011

A Wicksellian monetary policy?

Steven Kates
4 April 2011
According to Wicksell, there are two interest rates, one visible and the other almost totally invisible. The visible rate is … Continue reading “A Wicksellian monetary policy?”

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