I am giving a talk soon about the famous, and widely discussed, 'debate' between Hayek and Keynes back in the 1930's. It is much travelled ground so novelty is not my aim. Just some clarity. These are [incomplete] notes to myself to help along the way.
Let's begin with what I call the 'Robbins Paradox':
No. I really mean it: go Texas! As in please leave. Or, if not, please stop the nonsense. It just reminds the world why the US is so unreliable at times.
Paranoia runs rampant in Texas. Not content with monitoring a recent US Army training exercise in case it was really an undercover attempt at invading [more…]
With the big boys and girl now officially in the presidential race we are all going to suffer from political pablum for the next year or so. So far the signs are not good.
I find the Jeb Bush effort the most depressing so far. And that's after only a day or so. [more…]
Sorry I have been absent here lately: I am in the middle of several projects that take priority.
Nonetheless in the course of one of those projects I have found myself immersed in the many faces of economic theory with respect to the role of government in an economy. That role appears to lurch from one [more…]
There seems to be a lot of angst as to why standard macroeconomics ignores the government in its analysis. Or, rather, that when the government slips into the picture it is almost invariably in the form of an evil presence mucking up the sweet operation of market magic and thus stalling us all on our way [more…]