Image by Extra Ketchup via Flickr Allan Meltzer is a renowned Monetarist and academic economist. His discussion below of current economic policy and interest rates is important reading. He succinctly captures the issues, discusses the dangers of continuation of current policies and probable outcomes. Emphasis has been added by me. OCTOBER 22, 2009, 10:49 P.M. [...]
Archives for October, 2009
Niall Ferguson opines on decline of the US empire: Given its massive deficits and overseas military adventures, America today is similar to the Spanish Empire in the 17th century and Britain’s in the 20th, he says. “Excessive debt is usually a predictor of subsequent trouble.” To view video or read transcript, click here.
Image by Getty Images via Daylife An earlier post argued that Intervention was always harmful. There are probably tens of thousands of these “favors” doled out to constituents. Receivers gain at the expense of non-receivers. In total, the economy is harmed (less goods and services produced) as a result of these programs. There are so [...]
Image via Wikipedia For those confused about the current economic mess, most of it can be attributed to the policies known as Keynesian Economics. Despite this statement, it is not necessarily a condemnation of what John Maynard Keynes proposed. Frankly, that is difficult to tell because his General Theory left so much room for interpretation [...]