Tag Archives: keynesianism

Fight the Myth of Fair Trade

As Barron’s editorial page editor Thomas Donlan notes in his March 6 editorial: “Fair trade” is never fair, because it always means that the deadening thumb of government has to adjust the scales of commerce in favor of domestic businesses that can’t succeed any other way.






Re: Swedish economist explains why the left hate economics

Reading that, George, reminded me of the time I thought the president might issue an Executive Order to have demand curves slope upwards, which would, of course, solve all of his economic problems — at least on paper.






More N&O-nomics: Government spending drives economic growth

There are several known tenets of N&O-nomics, such as: tax cuts don’t stimulate economic or employment growth cutting the sales tax leads to unemployment (after a two-year lag) overregulation is good for business and tourism hiking the minimum wage would stimulate the economy outsiders’ perception of the North Carolina’s “progressive image” is key to the state’sContinue Reading






Forbes: Is Paul Krugman leaving Princeton in disgrace?

There is too much information here for a blog post to do justice and remain a blog post (as opposed to a booklet), so please read this entry in Forbes on the subject. The catalyst for Krugman’s disgrace would be economic historian Niall Ferguson’s public indictment and surgical dismantling of the egomaniac who calls himselfContinue Reading






Not to pick on Raleigh

Because it’s hardly just Raleigh. Other places — Charlotte, Miami, on down to Ocean City, Maryland — like the big, shiny numbers and are “not as concerned about the validity of those numbers.” Earlier this week, the Wall Street Journal published a similar example. Robert J. Caprara’s “Confessions of a Computer Modeler” included the followingContinue Reading






Happy 5th anniversary, colossal failure!

The Wall Street Journal reminds us that five years ago today, President Obama signed the massive stimulus bill into law. He did this because, apparently, White House message crafters were still five years out from discovering what a great thing it is for people to be “liberated” from the “chains” of employment. The president is,Continue Reading






Re: The “master jugglers” of the federal government

Quoting George’s link: The classical economists and many modern day political economists argue that due to the negative consequences of “juggling” we need to establish binding rules that curtail such behavior on the part of governments. Keynes, or more accurately Keynesians, broke with this tradition of constraining public authorities and binding them by rules. TheyContinue Reading






What is reductio ad abstinentis? Let Paul Krugman demonstrate

Reductio ad abstinentis — essentially, the hope that by completely ignoring an opponent’s point and saying nothing to answer it, that point will magically vanish. — As described in The Locker Room, 3/16/28 John Goodman’s blog today discusses the special problem for economists presented by Paul Krugman. Note that he uses the word problem, notContinue Reading