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Vor 4 Tagen · The theories forming the basis of Keynesian economics were first presented in The General Theory of Employment, Interest and Money, published in 1936. It was his explanation for the cause of the Great Depression for which he was, deservedly, most well known. Although Keynesian theories no longer adhere to many of the points of Keynes ...
- Keynes and Classical Economics
Vor 4 Tagen · Keynesian economics is a macroeconomic theory of total spending in the economy and its effects on output, employment, and inflation. It was developed by British economist John Maynard Keynes...
Vor einem Tag · For Keynes, unemployment and idle resources are caused by a lack of effective demand, but for Hayek they stem from a previous unsustainable episode of easy money and artificially low interest rates. Keynes asked his friend Piero Sraffa to respond.
Vor 3 Tagen · Money is Janus-faced; monetary reforms secure political and economic benefits, but create unexpected problems. In 973 a single currency was introduced into England in order to bring about political unification, but by concentrating bullion production at many coastal mints, the new rulers of England created a honey-pot which attracted ...
Vor 20 Stunden · "Keynes, one of the architects of the Bretton Woods agreements, suggested in his 1930 Treatise on Money, which went to print just as the BIS opened its doors, that the international bank could, with some tweaks, evolve into the kind of supranational agency that he thought was necessary to manage a reformed international monetary standard." (131)
Vor 20 Stunden · Economics. The tragedy of the commons is a metaphoric label for a concept that is widely discussed, and criticised, in economics, ecology and other sciences. According to the concept, should a number of people enjoy unfettered access to a finite, valuable resource such as a pasture, they will tend to over-use it, and may end up destroying its ...
Vor 3 Tagen · Stephanie Kelton is the star of a new documentary film touting the alleged brilliance of Modern Monetary Theory (MMT). Murphy gives a comprehensive critique of the film, covering the flaws in its theory, history, and policy recommendations. The Mises Institute is giving away 100,000 copies of Murray Rothbard’s, What Has Government Done to Our ...
