Keynesian orthodoxy claims government can successfully counter recession through "expansionary" policies. To the contrary, these policies increase the danger to the economy.
Long-standing policy advice based on Austrian business cycle theory would be useful in responding to Keynesian supply shocks—aggregate supply shocks that lead to even larger aggregate demand shocks.
Steven Kates's new book debunks Keynesian demand-side economics, while striving to resurrect Say’s Law and revive the classical understanding of the economy.
Keynes viewed depressions as something that could naturally plague market economies when total spending was insufficient to support full employment. Only with wise oversight could we hope to achieve steady economic growth.
Even on its own terms, the General Theory must considered a failure, for the problem it purports to solve, involuntary unemployment, does not exist.
While Otaki appropriately criticizes stimulus spending, he inexplicably attributes Japanese stagnation to the failure to follow Keynes.
The Human Action Podcast features in-depth interviews on current topics in economics through an Austro libertarian lens.
Audio recordings of Mises Wire articles, offering contemporary news and opinion through the lens of Austrian economics and libertarian political ec
