At his Calafia Beach Pundit blog, Scott Grannis recently posted a pretty devastating critique of Keynesian economic theory and the abject failure of Keynesian fiscal stimulus in the period following ...

Keynesian economics is a macroeconomic theory that advocates for active government intervention to manage economic cycles, particularly during recessions and depressions. Developed by British ...

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Discover how demand-side economics supports economic growth through government intervention and increased aggregate demand. Learn key concepts and real-world policy examples.

Great crises have a way of reminding us that acting as though we know perfectly well what the future holds almost always leads to disaster. That’s especially true in economics, which tends to ...

A recent post from Daniel Lacalle, “How Keynesians Got The US Economy Wrong Again,” exposed the widening gap between John Maynard Keynes’ economic theory and reality. Despite the confident forecasts ...

A number of economists have recently been debating what is wrong with macroeconomic modelling today. The University of Chicago's John Cochrane, Oxford’s Simon Wren-Lewis, Berkeley’s Brad DeLong, and ...

The "new economics" of John Maynard Keynes and his legions of academic acolytes was sold to the world on the basis of being a scientific advance over the outmoded dogma of classical economics. Keynes ...

"The biggest problem is not to let people accept new ideas, but to let them forget the old ones" – John Maynard Keynes. What would Keynes, the influence behind Keynesian economics, think of our ...

Some 63 years after his death, British economist John Maynard Keynes is enjoying a resurgence of popularity. Keynes' theories were considered radical in their time, but are now at the heart of the ...

Just how important is money? Few would deny that it plays a key role in the economy.­ During the Great Depression of the 1930s, existing economic theory was unable either to explain the causes of the ...