Brent Budowsky: True conservatives such as William F. Buckley and Edmund Burke must be mourning in heaven the collapse of modern conservative thought.
What Niall Ferguson’s Attack on John Maynard Keynes Has Wrought
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Irene Monroe: While Ferguson’s gay-bashing of Keynesian economics was to discredit Keynes and his entire body of work, it has rather done the reverse, bringing renewed international attention to a renown economist and to another one of our LGBTQ unsung forebearers.
Why This Is the Worst Recovery on Record
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Robert Reich: We’re now witnessing what happens when all of the economic gains go to the top, and the rest of the population doesn’t have enough purchasing power to keep the economy going.
A Nation of Cliff-Dwellers
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John Peeler: In the midst of a massive recession, the conservative argument for balancing the budget by cutting government spending is manifestly perverse.
War Nation: Military Keynesianism’s Iron Grip on Washington
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John R. Moffett: Our world-spanning military, paid for by American taxpayers, serves the interests of defense contractors and the government officials that funnel the money to them but it does not serve the American taxpayer.
Keynes and Hayek, Obama and the Republicans
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Walter Moss: From the Reagan years to the present, conservatives have been fond of quoting Friedman and Hayek. Their influence can be seen in such documents as the Republican Party’s 1994 “Contract with America.”
How Austerity Is Ushering in a Global Recession
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Robert Reich: Chalk up a big part of Europe’s slowdown to the politics and economics of austerity. Europe – including Britain – have turned John Maynard Keynes on his head. They’ve been cutting public spending just when they should be spending more to counteract slowing private spending.
Let’s Hope for Continued Fiscal Gridlock
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Ivan Eland: The good news is that if the committee can’t reach an agreement on the fiscal changes, or if Congress rejects its work, defense (including homeland security) and domestic programs have to take equal cuts.
Can Krugmanomics Be Saved?
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Steven Hill: So according to Krugmanomics, taking on too much debt is not the problem – it’s not being able to pay the debt that is the problem. And Krugman’s solution, apparently, is to be able to depreciate your currency and/or default on your debts, leaving the creditors holding the bag.
Why We Are Moving Toward a Recessionary Era
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Robert Reich: The biggest ongoing threats are chronic recession or even deflation, because consumers don’t have enough money to what the economy is capable of selling at full or near-full employment. Despite gains in productivity, little has trickled down to America’s middle class.
It Is As Bad As The 1930s
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So much for the Republican chant of “stimulus is bad” and “we need a balanced budget.” Nobel Prize winning columnist Paul Krugman points out on his New York Times blog yesterday that the world economy right now is more or less at the point John Maynard Keynes described in his essay The Great Slump of [...]
Economics 101: Who’s Up, Who’s Down
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by Robert Brent Toplin – Customers at my local Barnes & Noble store are likely to get the impression that books about Franklin D. Roosevelt are all the rage these days. When they stand in line to pay the cashier, they come upon a large display of volumes dealing with FDR and the Great Depression. [...]
The Rebirth of Keynes, and the Debate to Come
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by Robert Reich – The economy has just about come to a standstill – not so much because credit markets are clogged as because there’s not enough demand in the economy to keep it going. Consumer spending has fallen off a cliff. Investment is drying up. And exports are dropping because the recession has now [...]
Is National Masochism Causing The Tight Presidential Race?
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I don’t understand. As Juan Cole notes this morning, Republicans came to Washington in 2000 with a solid majority in both houses of Congress and on the Supreme Court, allowing them to steal the presidency. If you ever wanted to know what a pure Republican Party government unhindered by Democrats or anyone else might look [...]
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