john maynard keynes

Mr. Keynes

15 September 2012

I found this cartoon (via Facebook) today. The cartoon’s original location is here.

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Kaldor On Keynes

10 May 2012

Good read on the Keynesian principle of effective demand and the practice of Keynesianism till it was abandoned using faulty reasoning in the 70s and 80s. Nicholas Kaldor from 1983:

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Separated at Birth? The Twin Budget and Trade Balances

20 September 2011

The International Monetary Fund, IMF has one full chapter devoted to the subject of “twin deficits” in their latest issue of World Economic Outlook. The subject of “twin deficits” is full of complications and can invoke the deepest emotions from economists. Naively, the argument goes as follows: The “three financial balances” identity can be written as NAFA [...]

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