Is the Keynes Investment Multiplier Actually a Divider?

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

Written by Dan Lieberman, Alternativeinsight

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 an advantage for government deficit spending and featured as a significant advance in economic thought for determining public policy, the ‘multiplier” could be misunderstood and not deliver the benefits it promises.

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What Would Keynes Have Said About the Current Stagnation?

November 3rd, 2017
in history, macroeconomics

Article of the Week from Fixing the Economists

by Philip Pilkington

As part of the research for one of the chapters of my recently published book, I was reading Keynes’ Treatise on Money. The book, while fundamentally flawed due to its Wicksellian (perhaps even New Keynesian!) framework, has a lot of interesting material that the General Theory lacks (not least a theory of profits). It is also cast, as GLS Shackle never tired of noting, in an explicitly dynamic framework rather than the inferior comparative statics framework of the General Theory.

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The Fragmentation of Society

November 1st, 2017
in aa syndication, demographics, macroeconomics

by John Mauldin, Thoughts from the Frontline

Lately, my life has been completely packed with speeches, meetings, and in-depth, often lengthy, conversations. Plus ongoing research and writing, of course. It all culminated Thursday afternoon at the beginning of a business meeting with the leadership team from a firm that will become a significant new business partner. At the very beginning of the meeting, the head of the firm leaned over to me and asked, “What’s on the top of your mind? What are you thinking about?” The previous night we had a small group of about 15 people in my living room after dinner, and the question was similar, “What keeps you up at night?”

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Promising Ideas for Future Research on the Employment Effects of Minimum Wages

October 30th, 2017
in employment, macroeconomics


-- this post authored by David Neumark

Studies of the employment effects of minimum wages have been wide-ranging, but a consensus proves elusive. This column summarises the existing literature and proposes some key questions to better inform policy in the context of minimum wages across different states in the US.

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Trump’s Planned Tax Reforms: A Look at the Numbers

October 29th, 2017
in aa syndication

by Elliott Morss, Morss Global Finance


Tax reform is never easy. There are with lobbying groups aligned on all sides to protect their special interests and create new ones. This makes tax reform one of the most difficult political feats to accomplish. At this point, only the broad outlines of Trump’s tax reform plan are available. Below, the numbers on what is known are presented. There appear to be some problems.

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