Separated at Birth? The Twin Budget and Trade Balances
The International Monetary Fund, IMF has one full chapter devoted to the subject of “twin deficits” in their latest issue of World Economic Outlook. The subject of “twin deficits” is full of...
View ArticleKaldor On Keynes
Good read on the Keynesian principle of effective demand and the practice of Keynesianism till it was abandoned using faulty reasoning in the 70s and 80s. Nicholas Kaldor from 1983:
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Mr. Keynes
I found this cartoon (via Facebook) today. The cartoon’s original location is here.
View ArticleJohn Maynard Keynes: Life, Ideas, Legacy
Described as “Award-winning documentary about Keynes by Professor Mark Blaug, which received a Silver Medal at the New York Film and Television Festival circa 1988.” on the University Of Cambridge page...
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Anthony Thirlwall’s New Book On Keynesian And Kaldorian Economics
During the global economic and financial crisis Keynes became popular again but Nicholas Kaldor’s ideas and the mention of the man himself didn’t take off as much. It’s unfortunate, as Kaldor played a...
View ArticleDisappointing Start, Mr. Bernanke
Ben Bernanke has a new blog at Brookings. In his second post, Why are interest rates so low?, Bernanke “explains the rationale behind the Federal Reserve’s continued policies”. We should be thankful to...
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New Enhanced Financial Accounts In The Federal Reserve’s Flow Of Funds (Z.1)...
The Federal Reserve produces quarterly data for the financial accounts of the United States (earlier called “flow of funds”). There are a few notable additions termed enhanced financial accounts, which...
View ArticleKeynes’‘Human’ Apple
The point needs emphasising because the art of thinking in terms of models is a difficult–largely because it is an unaccustomed–practice. The pseudo-analogy with the physical sciences leads directly...
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Kalecki And Keynes On Wages
The blogger writing for Social Democracy For The 21st Century: A Post Keynesian Perspective has an interesting post about Keynes’ view on wages. I have a few points to add, which may not be...
View ArticleNick ROKE, Thrift, And Hoarding
The new issue of ROKE is out and celebrates 80 years of The General Theory. Nick Rowe has a new paper in the issue titled, Keynesian Parables Of Thrift And Hoarding. Requires access. Nick has a post on...
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Being Keynesian In The Short Term And Classical In The Long Term
I am not. But the post is about the possibility. The title is borrowed from a paper by Gérard Duménil and Dominique Lévy. (draft here) Steve Roth has an article titled Note To Economists: Saving...
View ArticleKalecki And Keynes
Michal Kalecki swam into my ken just after the publication of the General Theory of Employment, Interest and Money, in 1936. The small group who had been working with Maynard Keynes during the...
View ArticleKalecki And Keynes, Part 2
Continuing from the previous post, Kalecki And Keynes … The General Theory of Employment, Interest and Money was published in January, 1936. Meanwhile, … , Michal Kalecki had found the same solution....
View ArticleOn The Blogs
Two things caught my attention in the last two days. First is the claim by Roger Farmer: The Keynesian economics of the General Theory is static. That’s the strangest critique of the GT I have ever...
View ArticleFree Trade And Balanced Budgets
Wikileaks has released “The Podesta Emails” which show Hillary Rodham Clinton’s political positions best explained by an NYT article: [Clinton] embraced unfettered international trade and praised a...
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“In The Long Run”
But this long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task, if in tempestuous seasons they can only tell us,...
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Being Keynesian In The Short Term And Classical In The Long Term
I am not. But the post is about the possibility. The title is borrowed from a paper by Gérard Duménil and Dominique Lévy. Steve Roth has an article titled Note To Economists: Saving Doesn’t Create...
View ArticleKalecki And Keynes
Michal Kalecki swam into my ken just after the publication of the General Theory of Employment, Interest and Money, in 1936. The small group who had been working with Maynard Keynes during the...
View ArticleKalecki And Keynes, Part 2
Continuing from the previous post, Kalecki And Keynes … The General Theory of Employment, Interest and Money was published in January, 1936. Meanwhile, … , Michal Kalecki had found the same solution....
View ArticleOn The Blogs
Two things caught my attention in the last two days. First is the claim by Roger Farmer: The Keynesian economics of the General Theory is static. That’s the strangest critique of the GT I have ever...
View Article
