John Maynard Keynes

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Harvard Prof: Keynes Flawed Because He Was Gay, Childless

Niall Ferguson says he didn't care about future

(Newser) - It's not your usual criticism of Keynesian economics: Harvard professor Niall Ferguson told a group of financial advisers this week that John Maynard Keynes' policies were flawed because he was gay and childless, and thus didn't care about future generations, reports Tom Kostigen at Financial Adviser . Ferguson also... More »

The GOP Is Forcing Us to Elect Romney

Ezra Klein says Republicans have got a 'gun to the economy's head'

(Newser) - If you care about the economy, you'd better vote for Mitt Romney. Not because of his supposed private sector experience—his policies are indistinguishable from career politician Paul Ryan's—but "because if Romney is elected, Republicans won't choose to crash the economy," writes Ezra Klein... More »

Romney Is a 'Closet Keynesian'

Paul Krugman: Mitt's strongest commitment is to 'insincerity'

(Newser) - Mitt Romney pretends to subscribe to the right's economic orthodoxy, but his real beliefs are apparently very different, writes Paul Krugman in the New York Times . He let them slip the other day, saying that "if all you’re thinking about doing is cutting spending, as you cut... More »

The Left's Dirty 20th-Century Secret

Eugenics: once loved by British intellectual lefties

(Newser) - Liberals, it's time to confront the biggest skeleton in your political closet: eugenics. Or so argues Jonathan Freedland in the Guardian . Back in the 1930s and 40s, major figures like George Bernard Shaw and John Maynard Keynes supported eugenics, the notion that disabled and poor people should be prevented... More »

Boehner's Betting You Don't Understand Economics

There's no way spending cuts lead to job creation: Felix Salmon

(Newser) - John Boehner reacted to today’s brutal jobs report with a batch of his typical economic nonsense, writes Felix Salmon of Reuters . “Republicans are focused on jobs, and are ready to stop Washington from spending money it doesn’t have,” declared Boehner, calling for more federal spending cuts.... More »

Krugman: How Economists Blew It

Downturn blindsided big brains who thought markets were perfect

(Newser) - Believe it or not, economists were, until about a year ago, congratulating themselves on a job well done. Now the dismal science is in shock, and Paul Krugman thinks he knows why. Economists, he writes in the New York Times Magazine, “mistook beauty, clad in impressive-looking mathematics, for truth.... More »

Obama Must Spend Boldly— or It's Great Depression II

Only government can save us now: Krugman

(Newser) - For decades economists believed that a second Great Depression was impossible; all the Fed had to do, they said, is print more money. But as Paul Krugman writes, monetary policy has failed; despite "supplying liquidity like an engine crew trying to put out a five-alarm fire," credit remains... More »

End the Recession: Throw Us All a Grand

Banks just horde cash; citizens will spend it

(Newser) - The financial crisis has begotten a global recession, but government leaders across the world are still concentrating their efforts on fixing the banking system. That's a waste of time, writes Simon Jenkins; the banks only horde cash to save themselves and ride out the downturn. For the Guardian columnist, the... More »

Keynes Not a Dirty Word Anymore

Ideas of slandered economist could save the world

(Newser) - In his time, John Maynard Keynes was revered as a genius for his belief that humans shouldn’t “think of themselves as victims of impersonal economic laws,” writes Nick Fraser of the Independent. Later, conservatives mocked him and tarnished his name, attaching the word “Keynesian” to “... More »

9 Stories