An important argument in the arsenal of Keynesian economics in favor of fiscal stimulus is that during a recession/depression it will put unemployed resources back to work and produce, in the process...
Wladimir Kraus
Latest work
The concepts of socialism and capitalism have definite meanings. Socialism is defined as state ownership of the means of production. The definition has been accepted by the most consistent...
The kings and queens of graduate economics classrooms -- real business cycle sophists, have been surprisingly mute on causes and consequences of the Second Great Depression. The silence is probably...
