Category: "history"

Keynes’ General Theory, the ISLM and Roy Harrod’s ‘Dynamics’

December 22nd, 2017
in history, macroeconomics

Too often discussions of the relationship between Keynes’ General Theory and the ISLM model focus on John Hicks’ 1937 paper ‘Mr. Keynes and the Classics‘. more »

The Great Unwinding: Some Thoughts on the Incoherence of Mainstream Economics

December 15th, 2017
in history, macroeconomics

A recent post by Lord Keynes inspired me to write up some very general thoughts on the state of mainstream economics. Today, I believe, mainstream economics is completely incoherent. What do I mean by that? Well, basically if you are in the mainstream you can pretty much believe in whatever you want these days. more »

‘Uncertainty’ in Contemporary DSGE Modelling: Not Even Wrong

November 17th, 2017
in history, macroeconomics

Confusion of thought and feeling leads to confusion of speech. — John Maynard Keynes more »

The Bankers and the Euro

November 8th, 2017
in history, eurozone and euro, currency / money

18 years after its launching the euro still doesn't work well. An essential element is still lacking to make it a durable currency. Behind the scene the central banks are still keeping it upright with temporary emergency solutions. more »

Is the Keynes Investment Multiplier Actually a Divider?

November 4th, 2017
in aa syndication, history, macroeconomics

British economist John Maynard Keynes transferred Richard Kahn’s employment multiplier into the concept of an investment multiplier. Others used the same formula to arrive at a Gross Domestic Product (GDP) multiplier. Portrayed by Keynesian followers as… more »




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