Monty Pelerin's World

Lew Rockwell on Keynesian Economics: In the market economy, there is a long-run tendency for errors to be corrected and replaced by different practices that uplift the people. In government, [...]

Keynesian economics is a fraud. It has neither theoretical coherence nor empirical support. It was adopted out of desperation in the 1930s. Many contemporary economists of the time protested that [...]

The Daily Bell provides their comments on Keynesian economics. Obviously, they are not impressed: What are the results of modern Keynesianism? Well, Fed Chairman Ben Bernanke‘s been trying hard to make [...]

The Broken Window Fallacy, debunked by Frederic Bastiat over 150 years ago, still reigns supreme in Keynesian economics. Some might call it the keystone of this brand of political-economic chicanery. [...]

Friedrich Hayek’s A Tiger by the Tail: The Keynesian Legacy of Inflation was published in 1978. It seems an appropriate description of what Quantitative Easing (QE) has produced. We are [...]

For those interested in learning more economics from some critics of Keynesian economics, the following collection of books from the Mises Institute might be useful. Some of the books are [...]

Decay is a slow process, not easily spotted by those who live it. How many Romans living through the decline of the Empire had any idea what was happening? How [...]

Henry Hazlitt was a remarkable man. To appreciate his wisdom and clarity, one need only read some of his work. The piece below is from Mises.org. It was a Newsweek [...]

An interesting read for econ-oriented individuals. The read is summarized here: Ricardo Caballero on Hayek & the way forward for macroeconomics. It deals with the conflict within economics between what [...]

Government has become Leviathan, and Leviathan has misbehaved and failed miserably. Not since the Civil War has the political future been so tenuous. The Constitution is routinely ignored. The Federal [...]

The milk of American politics may be money, but the fuel for American socialism is Keynesian economics. Keynesianism’s inherent bias toward bigger government has made it the indispensable tool for [...]

A rather interesting lecture as to Keynes’ influence. According to North, Samuelson was more responsible for the popularization of Keynes than Keynes himself. Starts slow, but becomes interesting and optimistic [...]