Keynes

Tweet Writing in the NY Times, Adam Davidson of Planet Money, asks “Can Politicians Really Create Jobs? Davidson says “No.” But with all due respect to Mr. Davidson, as Barack – The Candidate – Obama said, “Yes, We Can!” And yes, Presidential candidates can create jobs – presidential campaigns are staffed by people. So obviously, […]

Tweet  “The United States,” according to Robert Barro, who teaches economics at Harvard and is a “fellow” at the Hoover Institution, “is in the third year of a grand experiment by the Obama administration.” This is inaccurate. Obama is the President, but the US Constitution provides a framework in which power is divided into three […]

   Tweet I thought the market would crash in the wake of the Earthquake / Tsunami / Nuclear Meltdowns at Fukushima. It didn’t. However, something much less serious may be bringing the market – and the economy – to it’s knees. Politics. The Voice of America reported here that Standard & Poors downgraded US debt from AAA to AA+. […]

Tweet The rainbow in the grey skies is magical and alluring. But take a look at history before suggesting that the USA should operate under the limitations of a balanced budget. A good place to start is by searching on milestone wars that made or saved this country. Try a search such as “US Revolutionary […]

Tweet    During the Great Depression the Classical Economists said “Unemployment is voluntary. Business owners will not voluntarily keep the means of production idle.”  While he had been a student of classical economics, John Maynard Keynes observed that the data didn’t fit the theory. And, he reasoned, if the observable data don’t fit the theory, […]

Cynicism is fashionable.  But Gordon Gekko Was Wrong! Greed is Not Good! Presidents, whether Republican or Democratic, always speak about Service, and when talking about wars,  they speak of Sacrifice, and The Ultimate Sacrifice.  Many approach their role from that perspective as well. George H. W. Bush, for example, approached politics from the traditional Conservative […]

Back in 1931, John Maynard Keynes wrote “the economic problem may be solved within a hundred years. . . We must be smart, and ruthless.” We certainly are ruthless. If we were smart, we would stop living off the principle and live off the interest – renewable energy.