john maynard keynes

A warning from the past. Might the American Empire drag down America?

Summary:  Hubris is the great destroyer of Empires.  Especially the mad American Empire, which costs much, brings no economic benefits (no treasure ships coming home, no advantage to our exports), and multiplies our enemies.  Britain’s post-imperial periods was painful, as it will be for us if we fail to learn from the past. Americans take …

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Leadership in action: when resource constraints meet conspicuous consumption, we just ignore the problem

Summary:  Rising population, finite resources.  Don Vandergriff asks if we have the creativity and wisdom to cope with these two colliding trends?  “In the long run we are all dead. Economists set themselves too easy, too useless a task if, in tempestous seasons, they can only tell us that when the storm is long past the …

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Keynes comments on our new-found love of austerity

Summary:  We’re living in an time of deja vu.  Our Af-Pak War repeats the mistakes of Vietnam; Europe’s economic policy repeats mistakes of the 1930’s.  Slow and stupid are the two sins God always punishes. (1) Mark Thoma (Prof economics, U Oregon) coined a term for the advocates of austerity now (i.e., increase savings during a recession; they …

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A note about the US economy and the recent elections (yes, we’re nuts)

One core reality too-often ignored in post-election analysis:  the role of the economy.  Americans tend to vote their pocketbook in elections to Congress and the Presidency. This is nuts, on many levels. Who sets economic policy? How long between policy changes and results? How do policy-makers navigate? But at least they have economic theory to …

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Economic theory as a guiding light for government action in this crisis

Economic theory as a guiding light for government action in this crisis. But which theory? The dominant Keynesian economic theory, or that of the Austrian School?  (see the links at the end for background information about each). Here is an excerpt from the Drobny Global Monitor of 5 March 2009, by Andres Drobny (see his bio …

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