May 21, 2020

Webinar with Richard Vague, author of A Brief History of Doom, May 17, 2020

In A Brief History of Doom, Two Hundred Years of Financial Crises, Richard Vague simultaneously fills in a gap in Henry George's economic model, and torpedoes the conventional Keynesian model of the business cycle.

Bubble, Financial crisis, Henry George, Macroeconomics, Real estate bubble

March 2, 2013

Joseph Stiglitz Is Right About Inequality, but for the Wrong Reason

Joseph Stiglitz says that “Inequality is Holding Back the Recovery”. He’s right, but he gives the wrong reason, that "our middle class is too weak to support the consumer spending that has historically driven our economic growth." This “Keynesian” spending model does not effectively address inequality and thus can lead

capital market failure, Inequality, Keynesian economics, Macroeconomics, Stiglitz

December 28, 2012

The Keynesian Stimulus Spending Fallacy

It’s a truism of pop Keynesian economics that consumer spending drives the economy; if spending slows in a recession; government must make up the difference. In reality, consumer spending merely signals what consumers want; producers may be unable or unwilling to deliver. Government spending may compensate—or make matters worse—depending on

Deficit spending, Inequality, Keynesian economics, Macroeconomics, Military spending, Tax policy

May 20, 2012

How to (Really) End This Depression: a Response to Paul Krugman

Deficit spending, Inequality, Keynesian economics, Macroeconomics, National debt, Tax policy

June 16, 2010

Animal Spirits, by Akerlof and Shiller

Yale Prof. Robert Shiller, author of Irrational Exuberance (2000; 2005), predicted the 2008 financial collapse years before it happened. Last year, Shiller partnered with UC Berkeley Prof. George Akerlof to produce Animal Spirits--elaborating on the psychology that inspires “irrational exuberance” and other mass human behavior that affects the economy.