Tag Archives: Keynes

How to solve the unemployment problem in America

There are two theories for solving our current unemployment problem:  Free Market (Austrian) Macroeconomic (Keynesian) One works, the other doesn’t.     The first concentrates on the problem:  Employers are not hiring.     The second concentrates on the symptom: People are … Continue reading

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Why Keynesian Economics is a Disaster

Not only does the Keynesian system require arbitrary controls, but the particular form of inflation which Keynes recommended – the socialization of investment which he thought would facilitate the spending of income – means… the transfer of power to determine … Continue reading

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How Keynesian Economists Understand the Wealth Creation Process

The followers of economist John Maynard Keynes teach that national prosperity comes from spending: consumer spending and government spending (plus business spending on investment, and net exports). Saving, in their view, reduces the Gross National Product, because it reduces consumption … Continue reading

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Why the Obama Stimulus Law Failed

In February of 2009, President Obama signed the American Recovery and Reinvestment Act (ARRA) which totaled $789 billion in increased government spending. President Obama reassured anxious Americans that this spending would “revive our economy” and “create 3.5 million jobs” over … Continue reading

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Major Economic Schools of Thought

In the physical sciences, there is a large body of theory which has been widely accepted as correct. The disagreements are found only in very new concepts, like dark matter in space or global warming. Eventually these disputes are resolved … Continue reading

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