This column proposes a new paradigm to reconcile Keynesian economics with general equilibrium theory. It suggests that, just as it sets the fed funds rate to control inflation, the Fed should set a ...

For the past nine months I have been presenting some new ideas at academic conferences where economists have been grappling with the current financial crisis. Boston, Montreal, Amsterdam, London, ...

Before Keynes, Conventional Economic Thought (CET) was based on three principles. The first principle is that unemployment is automatically eliminated by the free market. The second principle is the ...

The November mid-term elections were a citizen referendum for reductions in the size and scope of the federal government. But can federal spending and the budget deficit actually be reduced ...

John Maynard Keynes was a 20th century British economist who developed a theory about government policy in relation to private sector business. His macroeconomics approach was to use ...

Leading economists like John Maynard Keynes and Irving Fisher had forecast prolonged and permanent prosperity, just prior to the Great Depression of 1929. The shock of the Great Depression led Keynes ...

The nomination of Janet Yellen to become head of the Federal Reserve System has set off a flurry of media stories. Since she will be the first woman to occupy that position, we can only hope that this ...

JOHN MAYNARD KEYNES ranks with Adam Smith and Karl Marx among economists in the influence that his views have exerted on the general public. He had the vision to see that economics lacked a general ...

URGENTLY needed: a firebrand economic genius to get us out of this mess. Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium ...