Keynesian and Post-Keynesian Economics

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Most libertarians oppose Keynesian arguments (such as insufficient demand causing recessions) because they conflict with their ideology (see Austerity.)


$2 Trillion Coronavirus Relief Bill Presents A Reckoning For Libertarians [More...]
Almost all the libertarian deficit fear mongers shut up for this, the biggest relief bill in history. Except the asshole Thomas Massie.
Fiscal Stimulus (2 links)
A Keynesian policy libertarians hate because it is government spending that is both an effective government policy and because it requires taxes eventually. They have invented many wild arguments against it (which have proven wrong) such as "crowding out".
Discredited ideas [More...]
Libertarians have at one time or another adopted every erroneous view to avoid Keynsianism: Austrianism, Structuralism, Treasury View and Monetarism (Milton Friedman). All four have been refuted by history.
How 'Keynes' Became a Dirty Word [More...]
Noah Smith sez: If you use the word "Keynesian" as a synonym for "socialist," "progressive," or "liberal," well my friend, you’re doing it wrong. Hayek's propaganda, pushed over a period of a half century, has tarbrushed Keynes' ideas.
How to Mangle Keynesian Theory [More...]
How the comical Robert Murphy has misrepresented and mangled Keynesian theory in a standard Austrian manner.
Lord Keynes (pseudonym) (50 links)
Blogs "Social Democracy For The 21st Century: A Post Keynesian Perspective". Very well versed in Austrian Economics.
Say's Law (2 links)
The doctrine that shortfalls in overall demand aren’t possible, because money has to be spent on something. Debunked strongly by Keynes, yet still strongly held by many Chicago School economists and others.
The Anti-Scientific Revolution in Macroeconomics
Paul Krugman reviews "the remarkable extent to which powerful groups, including a fair number of economists, have rejected intellectual progress [such as Keynesianism] because it disturbs their ideological preconceptions."
The Inflation Obsession [More...]
Paul Krugman about the Great Recession: "What’s really striking is the extent to which they were obsessed with the wrong thing. The economy was plunging, yet all many people at the Fed wanted to talk about was inflation."
The takeaway from six years of economic troubles? Keynes was right. [More...]
"The six years since 2008 have provided strong empirical support for the supposedly outmoded Keynesian view that government borrowing is more powerful than monetary policy in stimulating severely depressed economies and pulling them out of recession."
The Three Axioms at the Heart of Neoclassical Economics [More...]
"All in all, the three axioms that form the basis of neoclassical economics cannot be taken seriously."
Tom the Dancing Bug: A Desert Island Recession [More...]
A simple and clear comic example of how a shock can cause a recession.
Why Believe In Keynesian Models? [More...]
Paul Krugman describes why he thinks Keynesian models have been successful.


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