This article originally appeared in the January 2013 edition of The Free Market. Reprinted from Mises.org In the beginning of The General Theory, John Maynard Keynes says that his ideas will no doubt be rejected because they are so novel
keynes
Should We Trust Economists?
We live in a complex world. So logically we need complex solutions to our problems, right? Not according to certain people; according to them, we just have to follow the advice of economists. That way, most of our problems would
The Mess the Bank Made… and Denies
Back in April, I reviewed a document called the “Financial System Reviewâ€, published semi-annually by the Bank of Canada. Due to the dire warnings contained therein, I thought it necessary to produce a more user-friendly summary of the information the
Keynesians Vs. The Gold Standard
Reprinted from LewRockwell.com Recently, the leftist London Guardian posted an article against the nineteenth-century gold coin standard. The author, who seems recently to have begun shaving, has provided a highly useful summary of the Keynesian case against the gold coin
Bernanke’s Philosopher
Reprinted from Reason.com When Ben Bernanke took charge of the Federal Reserve in 2006, the media made a few passing references that suggested he secretly subscribed to libertarianism. “I worked with him for years before I even knew he was
Why Listen to Keynes in the First Place?
In a recent BBC News article, philosopher John Gray asks the quaint but otherwise vain question of what would John Maynard Keynes do in today’s economic slump. I call the question vain because practically every Western government has followed Keynes’
The Legacy of Lord Keynes
This address, given to the British Society For Individual Freedom on September 14, 1959, was first published in Freedom First, Autumn 1959. Originally appeared on LewRockwell.com Let the dead rest in peace. But would that the dead let us rest
George Will, John M. Keynes, and Totalitarian Eugenics
In a touching but revealing column, conservative pundit and highly syndicated columnist George Will speaks to his son celebrating his 40th birthday while still handicapped by Down syndrome. Jon, as George describes him, was born at a time when leaving
Quebec’s Brownshirts
During the rise of nearly every socialist/fascist regime, one of the ingredients has always been the formation of paramilitary, thuggish organizations that carry out the dirty work of the political leaders. This is necessary to silence dissent and intimidate voters
Maxime Bernier: Give Keynes the boot
A great piece from Maxime Bernier, Minister of State for Small Business and Tourism in the Federal Government – it looks like we have at least one Austrian in the Canadian Parliament! The key question you have to ask is this:
Frum Drinks the Kool-Aid
A recent statement by David Frum has been making the rounds on the internet recently that should give everyone pause: Imagine, if you will, someone who read only the Wall Street Journal editorial page between 2000 and 2011, and someone in
A Twisted QE3
The Federal Reserve announced yesterday that they will engage in a policy called “the twist” – meaning they will sell some of their short-term US treasury holdings in exchange for long-term US treasuries. This is said to be neutral to
The Definition of Insanity
Just a few hours ago, the European Central Bank announced “in coordination with the Federal Reserve, the Bank of England, the Bank of Japan and the Swiss National Bank, to conduct three US dollar liquidity-providing operations with a maturity of
The Canadian Moral Hazard Corporation
On January 17, 2011 Finance Minister Jim Flaherty and Natural Resource Minister Christian Paradis announced that they would be making ‘prudent adjustments’ to the rules for government-backed mortgages.[ref]http://www.fin.gc.ca/n11/11-003-eng.asp[/ref] The press release was laden with the usual self-congratulatory fanfare and statements
Harper’s (magazine) Intellectual Implosion
When factual truths become so evident that they can no longer be ignored, you will always find defenders of the status-quo gnashing and wailing against what they believe is a very assault on their identities. To them, there are some
Government Stimulus – Does it work?
Niels Veldhuis, Director of Fiscal Studies at the Fraser Institute, gave this lecture on Friday January 21st at the Institute for Liberal Studies seminar: From the Great Depression to the Great Recession: How Should Governments Respond to Crisis? Niels’ lecture
Paper vs. Gold
Gold versus Paper Most people take it for granted that the world will never return to the gold standard. The gold standard, they say, is as obsolete as the horse and buggy. The system of government-issued fiat money provides the
The Great Recession and The Failure of Keynes
This lecture was given by George Bragues on Friday January 21st at the Institute for Liberal Studies seminar: From the Great Depression to the Great Recession: How Should Governments Respond to Crisis? From George’s lecture – which can be read
The Great Recession and The Failure of Keynes
First of all, I want to thank the Institute of Liberal Studies for inviting me here today to talk to you about issues and challenges related to the financial crisis of 2007-2009 and the Great Recession of 2008-2009. This is
The Myth that Laissez Faire Is Responsible for Our Present Crisis
The news media are in the process of creating a great new historical myth. This is the myth that our present financial crisis is the result of economic freedom and laissez-faire capitalism. The attempt to place the blame on laissez
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