Tag Archives: John Maynard Keynes

Obama Versus Technology: ATM’s Responsible For Unemployment

It is, to say the least of it, a very horrifying thing indeed that someone in this position of power actually believes an economic canard of this caliber — a canard that’s been bunked a billion times, and which, in fact, is so easily debunked — and yet it’s even more horrifying to realize that…

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Barack Obama Thinks It’s Funny That His Shovel-Ready Stimulus Has Failed

In North Carolina yesterday, meeting with the Council on Jobs and Competiveness, Barack Obama was questioned about the fact that government bureaucracy invariably delays projects and even oftentimes puts a stop to them altogether, to which Obama jokingly replied: “Shovel-ready was not as — uh — shovel-ready as we expected.” This clever remark got some…

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A Brief History of Economic Thought — By Jim Cox

Jim Cox is one of my favorite living economists. His slim but pregnant book — The Concise Guide To Economics — is a miniature masterpiece. The following comes from Chapter 37: The Spanish Scholastics of 14th through 17th century Spain had produced a body of thought largely similar to our modern understanding of economics. The…

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The Multiplier Theory

In the Concise Guide To Economics, author and economist Jim Cox correctly explains that the Multiplier is one of the major components of Keynesian policy. For those who still don’t know it, Keynesian economics — named after John Maynard Keynes — are the economics that Barack Obama, as well as George W. Bush (et al),…

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