Reconciling Keynes and Hayek Through Concordian Economics

June 27th, 2016
in aa syndication, history, macroeconomics

Written by , The Somist Institute

Both Keynes’ and Hayek’s shared the belief that there existed a need to revisit the economic discourse that began in the thirties and involved their respective analyses of growth and the business cycle. This paper looks at these topics and discovers some of the deep methodological, cultural, substantive, and ideological roots of the chasm that existed between Keynes and Hayek. The reasons for the chasm are understood with the aid of Concordian economics, a framework of analysis through which prism both Keynesian and Austrian economists might finally have a serious conversation with one another.


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Generational Chaos Ahead

June 26th, 2016
in aa syndication

by John Mauldin, Thoughts from the Frontline

“This generation of Americans has a rendezvous with destiny.”– Franklin D. Roosevelt

“Each generation imagines itself to be more intelligent that the one that went before it, and wiser than the one that comes after it.”– George Orwell

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Growth, Logic and the Federal Reserve

Written by

This week Federal Reserve Chair Janet Yellen made her semi-annual pilgrimage to the US Congress to report on monetary policy and the state of the economy. The Chair said the economic outlook was uncertain but "the recent pickup in household spending, together with underlying conditions that are favorable for growth, lead me to be optimistic that we will see further improvements in the labor market and the economy more broadly over the next few years. "

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Matter and Models

June 24th, 2016
in history, macroeconomics

by Philip Pilkington

Article of the Week from Fixing the Economists

What if all the world’s inside of your head
Just creations of your own?
You can live in this illusion
You can choose to believe
You keep looking but you can’t find the woods
While you’re hiding in the trees

— Nine Inch Nails Right Where it Belongs

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Concordian Economics, Part 5: Analysis and the Black Box of Saving

June 22nd, 2016
in aa syndication, history, macroeconomics

Written by , The Somist Institute

This article concludes the series covering the description of Concordian Economics.  The four preceding articles are listed, with links, at the end of this post.  Also at the end of this post is Appendix 2 (not included with Parts 1-4), a full list of references for the original paper and acknowledgements to those who have supported the work defining Concordian Economics.


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