Category Archives: John Maynard Keynes
Un-Merry Christmas: The Perverse Incentives To Over-Consume And Over-Spend
Authored by Charles Hugh Smith via OfTwoMinds blog, Isn't it obvious that if we set out to design the most perverse, toxic and doomed system possible, we'd end up with the Keynesian Cargo Cult's insane permanent growth/Landfill Economy? Few topics are off-limits nowadays: the personal and private are now splashed everywhere for all to see. […]
If Economists Are So Smart, Why Are They Always Wrong?
When I took Econ 101 and 102 as a young college student back in antediluvian times the textbook we were assigned was Paul Samuelson’s Economics: An Introductory Analysis. This book is the all-time best selling economics textbook and is still around today (19th ed.). I had the 1961 edition. In it, Samuelson, a prominent Keynesian economist who won […]
South Korea Introduces World’s First Robot Tax
In case you missed it, South Korea has introduced what is being called the world’s first tax on robots amid fears that machines will replace human workers, leading to mass unemployment. Of course, one can’t actually tax robots so what they’re actually doing is changing the corporate tax code to provide disincentives for capital investments […]
“The Western Status Quo Political System Is Collapsing Into ‘Something Else'”
Authored by Ben Hunt via EpsilonTheory.com, Michael Corleone: I saw a strange thing today. Some rebels were being arrested. One of them pulled the pin on a grenade. He took himself and the captain of the command with him. Now, soldiers are paid to fight; the rebels aren’t. Hyman Roth: What does that […]
The Long Run Economics Of Debt Based Stimulus
Authored by MN Gordon via Acting-Man.com, Onward vs. Upward Something both unwanted and unexpected has tormented western economies in the 21st century. Gross domestic product (GDP) has moderated onward while government debt has spiked upward. Orthodox economists continue to be flummoxed by what has transpired. What happened to the miracle? The Keynesian wet dream […]
The Questionable State & Abusive Use Of Economics – Part 1
Via Benjamin Masters of RealInvestmentAdvice.com, As lackluster results from rather experimental central bank policies continue to emerge, it’s time to readdress the seemingly endless nature of the perpetual-motion machine known as central bank stimulus — to stop and be still for moment and question whether the endlessly spinning wheels should be spinning at all, to […]
Kyrgyzstan’s Central Bank Urges Citizens To Own Gold
"Gold can be stored for a long time and, despite the price fluctuations on international markets, it doesn’t lose its value for the population as a means of savings," Kyrgyzstan’s Central Bank Governor Tolkunbek Abdygulov said, "I’ll try to turn the dream into reality faster." A landlocked nation perched between China and Kazakhstan is embarking […]