Today would have been the 100th birthday of Milton Friedman, the economist and author who helped inspire some of the most important economic policies of our time and helped millions of people escape poverty. Friedman doesn’t get much recognition outside of economic circles, but his achievements in that field were more than just writing a [...]
Entries Tagged With "Keynesianism"
The news on the economy continues to be bleak—while unemployment is down from nearly hitting double digits, it’s still stuck well above the historical average. GDP growth continues to be sluggish. Businesses are skittish about hiring, which only adds to the troubles. Despite the yearly promises from the Obama Administration about a “recovery summer” (this [...]
Francis Cianfrocca has an interesting critical look at why Paul Krugman’s call for a massive Keynesian stimulus is the wrong policy. His thesis is right: Krugman and many other economists are stuck in a world of rigid mathematical models that have little bearing on the way the world actually works—which is one of the causes [...]