Time overdue for aworld currency Jun 6, 2008
Frequent and drawn-out financial upheavals of the world economy led to the formulation of bold proposals for reforms of the international payments system, such as by John Maynard Keynes (1943), Robert Triffin (1960), Jacques Rueff (1963), Franco Modigliani and Askari (1971), and most recently Robert Mundell and Paul Volcker (2000). While the proposals varied in details, they shared broadly a common objective, namely safeguarding the world economy against disruptive financial instability and a... (Asia Times Online)
A jumbo loan metaphor May 24, 2008
Do the represent a "Third Way" between the militant free market ideology of Milton Friedman and the Chicago School, on the one hand, and the much more interventionist approach favored by the followers of John Maynard Keynes, on the other. Writing in The New York Review of Books, John Cassidy joins the growing chorus of observers who look at Obama's affiliation with and concludes that he belongs to neither the Keynesian or Friedmanite camp; instead, he occupies a netherland in between, where the... (Salon)
Famous four return to Narnia May 21, 2008
Keynes is also the great-great nephew of the economist John Maynard Keynes and the nephew of the historian and Cambridge professor Simon Keynes. A family of scholars which, admits the actor, makes for very serious and uninteresting dinner conversations. (The Star Online, Malaysia)
The Earthling economics experiment May 20, 2008
I tried to warn him that even John Maynard Keynes himself said that "Markets can remain irrational longer than you can remain solvent", but nobody listens to me, and neither did he. But his answer is logical; if you're going to bet, you gotta got with the fundamentals, and so by virtue of a corrupt and intellectually bankrupt Federal Reserve perpetually lowering interest rates, using a fiat currency, using literally zero reserves in the banking system, with a complicit corrupt Congress (except... (Asia Times Online)
When should the Fed crash the party? May 11, 2008
John Maynard Keynes, for one, thought that prescriptions like Mellon's were preposterous. The economist called those who held such views "austere and puritanical souls" who believed that it would "be a victory for the mammon of unrighteousness" if general prosperity were not "subsequently balanced by universal bankruptcy." Keynes perceived too much good in prosperity to treat it as the enemy, and he revolutionized economic theory to prove his point. (International Herald Tribune -- Business)
To get new job, show off interests May 5, 2008
- John Maynard Keynes. Odds are, you'd like a new job. (AZCentral -- Business)
The Case for Recession May 2, 2008
Stripped of all the eloquent conceptualizations and slick technical jargon, this was the great revolutionary insight of John Maynard Keynes: if we want to become wealthier as a nation and avoid economic recessions, all we need to do is print more money. The current financial tremors rumbling through the world s economies are trying to tell us that this paradigm, like all huckster schemes of easy wealth, is a fraud. (The American Conservative)
Just who deserves help with mortgage? May 2, 2008
com: Floyd Norris: Just who deserves help with mortgage. Call: (800) 877-3400. (Fresno Bee -- Business)
Helping only the deserving victims of the credit crisis May 2, 2008
Two of his books, "Stabilizing an Unstable Economy" and "John Maynard Keynes," were just republished by McGraw Hill, and his contention that stability is inherently unstable seems more relevant than ever in the aftermath of the period of low market volatility that ended in the current crisis. In the first of those books, published in 1986, Minsky wrote: "If the institutions responsible for the lender-of-last resort function stand aside and allow market forces to operate, then the decline in... (International Herald Tribune)
The firebird of Gordon Square Apr 19, 2008
The Bloomsbury Ballerina: Lydia Lopokova, Imperial Dancer and Mrs John Maynard Keynes by Judith Mackrell 404pp, Weidenfeld son, 25 ... Lopokova's reason for sticking it out while Mrs Woolf and Mrs Bell sniggered about her peasant past was that she was in love with their friend, the economist John Maynard Keynes, whom she married in 1925. (Guardian Unlimited -- Arts)
Fed fails to learninflation lesson Apr 18, 2008
The causes of inflation are well known and have been analyzed by some of the most noted economists of all time, such as John Maynard Keynes and Milton Friedman. The roots causes of inflation are monetary in nature, stemming from excessive money supply provided by the central bank and the banking system. (Asia Times Online)
US power failure a 'dismal' turning point Apr 17, 2008
Powerless New Deal New Deal politics, which owed a great deal to the thinking of John Maynard Keynes, seemed powerless in meeting these challenges. Much of Keynes's economic thinking was developed in the Depression and dealt with falling prices, creating demand, and putting to use under-utilized capital, while the problems of the 1970s seemed exactly the opposite, rising prices and too much demand. (Asia Times Online)
IMF's financial general plots strategy to end the credit crisis Apr 14, 2008
It seems the ghost of IMF and World Bank architect John Maynard Keynes is hanging more 00004000 heavily than ever over the Washington institutions. Still, this is hardly a surprise, according to Lipsky. (Telegraph.co.uk)
Jacob Saulwick: No medals for economic benefits of the Games Apr 12, 2008
Welcome to The Sydney Morning Herald. Skip directly to: Search Box, , , Text Version. (Sydney Morning Herald -- Business)
Want a recession? High rates will do it Apr 9, 2008
John Maynard Keynes, the famous British economist, advised the novice Fed to raise the discount rate further still (to 10 per cent) and to hold it there for three years. Here's what happened. (Globe and Mail -- Business)
International Monetary Fund faces watershed week Apr 6, 2008
John Maynard Keynes was the UK delegate at the Bretton Woods conference that created the IMF. Analysts think that if the credit crunch worsens, there is a chance the IMF may be called upon in what would be the first rescue of a developed country since Britain had to call upon the fund in the 1970s. (Telegraph.co.uk)
Breaking down Clinton’s economic plans Apr 2, 2008
Dr. Liuzzo called Mrs. Clinton s plan Keynesian economics named for the Depression era thinker British economist John Maynard Keynes who promoted a greater role for government in the economy. In the past 20 years, Dr. Liuzzo said, more economists have come to see monetary policy, governed by the Federal Reserve Bank, as of greater importance. (Scranton Times, PA)
Are We Heading Into a Depression? Apr 1, 2008
A fan of famed British economist John Maynard Keynes, who called for major government spending programs to remedy the Great Depression of the 1930s, Parks would like the federal government to step up outlays to fix rickety bridges, repair pot-holed roads, improve schools, and more to provide more jobs, more income, and thus more spending to cure any economic downturn. 1. (ABC News)
Markets' weak spotis bad ad vice Mar 28, 2008
Robert Skidelsky is professor of political economy at the University of Warwick, and author of The World After Communism (1995) and a prize-winning biography of the economist John Maynard Keynes. He was elected a Fellow of the British Academy in 1994. (Asia Times Online)
WHY MAMET MOVED STAGE RIGHT Mar 22, 2008
Mamet invokes John Maynard Keynes' response to criticism that he changed his mind: "When the facts change, I change my opinion. What do you do, sir?". Michael Billington might have a different response. (New York Post -- Opinions)
Mamet vs. the Greek Chorus Mar 22, 2008
Mamet invokes John Maynard Keynes' response to criticism that he changed his mind: "When the facts change, I change my opinion. What do you do, sir?" ... Mamet invokes John Maynard Keynes' response to criticism that he changed his mind: "When the facts change, I change my opinion. What do you do, sir?". (Townhall.com)
The Fed Is Too Easy on Wall Street Mar 19, 2008
Economist John Maynard Keynes described the essential dynamic of a capitalist economy as a struggle between the lure of financial safety, or "hoarding," and the entrepreneurial instinct, or "animal spirits." As in many other areas of life, a sense of balance is essential. We've all learned that too much deregulation unleashes an abundance of animal spirits that can be dangerous to our economic health. (BusinessWeek)
Government's sleight of hand not a cut above rest Mar 17, 2008
This is not the famous money illusion identified by economists such as John Maynard Keynes and Irving Fisher. Rather, it is the great budget-night-forward-estimates illusion where the Government increases its tax take but passes this off as a tax cut because the increase will be smaller than what was originally planned. (Sydney Morning Herald -- Opinion)
Smallpox or Facebook? Mar 15, 2008
Back in 1923, John Maynard Keynes warned that "[e]conomists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is long past the ocean is flat again." He was not the only one with reservations. Yet identifying the problem is easier than solving it, at least using the mathematical tools with which economists are familiar. (Slate)
Me and Bill Buckley: A True Story Feb 28, 2008
I had no idea if he had more than a passing interest in the history of the great economic thinkers such as Adam Smith, Karl Marx, or John Maynard Keynes, but I gave it to him anyway. We said our good-byes and drove away. (Human Events Online)
The Obama movement - echoes of ... Barry Goldwater Feb 25, 2008
Said John Maynard Keynes, whose ideas on economics are more attuned to those of Obama than Goldwater, "Ideas are more powerful than is commonly understood. Indeed, the world is ruled by little else. Sooner or later, it is ideas, not vested interests, which are dangerous for good or evil.". Alfred S. Regnery is publisher of the American Spectator and author of "Upstream: The Ascendance of American Conservatism" (Threshold Editions), to be published this month. (San Francisco Chronicle -- Opinion)
Inflation targeting Feb 21, 2008
However, Pigous Theory of Unemployment (1933) was challenged conceptually three years after publication by his personal friend John Maynard Keynes in the latters highly influential classic: General Theory of Employment, Interest and Money (1936). Keynes advocated direct government interventionist policies through countercyclical fiscal and monetary measures of demand management, ie full employment. (Asia Times Online)
Manuel's long view will bring lasting benefits Feb 21, 2008
John Maynard Keynes dealt with similar problems in The End of Laissez-Faire. In that essay, written in 1926, Keynes says that many people who object to capitalism as a way of life argue as though they are objecting to it on the grounds of its inefficiency in attaining its own objects. (Business Report, South Africa)
MIT economists help their profession get its groove back Feb 20, 2008
The field no longer had intellectual giants like John Maynard Keynes or Milton Friedman, who were shaping public debate by the sheer force of their ideas ... Economics may be popular again, but there still is nothing like a modern-day Milton Friedman or John Maynard Keynes. (International Herald Tribune -- Business)
Rebate checks might prove skeptics wrong Feb 19, 2008
At about the same time, the intellectual foundation for fiscal-stimulus plans was being laid out by John Maynard Keynes. Keynes argued that when fear made consumers and businessmen excessively cautious in their investing and spending, government could temporarily step in. (MSNBC -- Business)
Yield Curve Concerns, Keynesian Fixes, Broken Models Feb 19, 2008
To misquote Richard Nixon's 1970s comment on British economist John Maynard Keynes, we're all Keynesians now. . (Bloomberg -- Columnists)
The Global Financial Crisis Of 2008 Feb 6, 2008
As John Maynard Keynes, himself an academic with plenty of real world experience, observed: "It's better to be approximately right than exactly wrong." The Fed can't stop a downturn, but it can help it be short and shallow. This is a complex, fast-changing situation. (Human Events Online)
Stop the 'Made in Scotland' obsession Feb 4, 2008
You don't have to be Wilkins Micawber or John Maynard Keynes to know that the licence fee is too small. This has become one of the oddest and most diversionary of all political hot potatoes. (Guardian Unlimited -- Media)
Axe falls on almost 200 theatres, galleries and community groups Feb 3, 2008
He added that the audit had been the most comprehensive since John Maynard Keynes formed the organisation in 1945. The losers from yesterday s review may now struggle to secure replacement funding from the private sector, according to Colin Tweedy, chief executive of the consultancy Arts & Business, which suffered a 2 million cut to its 6 million grant. (Times Online)
Zuma's WEF statements raise alarms for the Left Feb 1, 2008
To quote economist John Maynard Keynes, this is a venue that seems to promote the "extraordinary belief that the nastiest of men for the nastiest of motives will somehow work for the benefit of us all". But that is hardly how it appears. (Business Report, South Africa)
A Who's Who of the Federal Reserve policymakers who hold power over your pocketbook Jan 30, 2008
Some of his treasures: A first-edition of Thomas Jefferson's Notes on Virginia ; several historical Texas documents; a complete collection of all first prints of Winston Churchill's books and speeches; and works by the famous economists Adam Smith and John Maynard Keynes. A voracious reader, Fisher's favorite authors include Shakespeare, Charles Dickens, Langston Hughes, P.G. Wodehouse and Evelyn Waugh. (San Diego Union-Tribune -- Business)
Traders seek the ancient haven of gold amid global market storm Jan 29, 2008
British economist John Maynard Keynes called gold a "barbaric relic" early last century, but modern investors are showing the same enthusiasm for the precious metal as the grizzled prospectors of legend. "We have to put gold into perspective, with the meltdown in the financial system," said Warwick Grigor, the chairman of Far East Capital. (Business Report, South Africa)
* Gold shines as stock prices fall Jan 28, 2008
It was British economist John Maynard Keynes who called gold a "barbaric relic" early last century, but modern investors are showing the same enthusiasm for the precious metal as the grizzled prospectors of legend. "We have to put gold into perspective right now with the meltdown in the financial system," Far East Capital chairman Warwick Grigor said. (Taipei Times, Taiwan -- World Business)
Remember, there's no free lunch Jan 23, 2008
POLITICIANS left and right are jumping on the "stimulus" bandwagon, and several commentators have recalled Richard Nixon's famous 1971 remark, "We're all Keynesians now." The famed British economist John Maynard Keynes died in 1946, so what he would have thought of Nixon's economics must forever remain a mystery. But if "Keynesian" is shorthand for believing that governments can boost employment and keep the economy humming by stimulating demand through higher spending, then the political... (Boston Globe)
The interview: Tom Wolfe Jan 20, 2008
John Maynard Keynes said the people who are successful are the people with animal spirits who refuse to acknowledge the risks they are taking in the same way that the healthy young man ignores the possibility of death. I'm not a young man, and,' he checks ostentatiously, pulling back the buttoned cuff of his jacket, grinning his Wolfe grin, 'I do have a pulse, but when it comes to mortality, mostly I choose to ignore the subject. (Guardian Unlimited -- Arts)
CSR and the Democratic Policies of the 2008 Elections Jan 12, 2008
-- John Maynard Keynes ... -- John Maynard Keynes. (Townhall.com)
Idea for '08 Jan 4, 2008
John Maynard Keynes, the famed economist, once noted that the stock market is a bit like a beauty contest. Rather than try to pick the most beautiful person, the judges in a Keynesian beauty contest try to figure out which contestant everyone else will pick. (USA Today -- Money)
Where is Keynes?; Rose-colored health care; Violence in Kenya; AIDS in Africa; Presidential debates; Iran and the bomb Jan 4, 2008
Where is John Maynard Keynes now that we need him. Erik Holm, Copenhagen. (International Herald Tribune -- Ed/Op)
NFL coaches on the network air: It's OK Dec 21, 2007
The problem with worrying about the long run, as the British economist John Maynard Keynes noted, is that "in the long run, we're all dead.". And when it comes to fretting over coaches using TV jobs as a sideshow until they can get back on the sideline. (USA Today -- Sports)
What Bankers Fear Dec 16, 2007
This image of free money recalls the facetious prescription of John Maynard Keynes that to get money in circulation again during the Great Depression, the government could simply bury it underground and encourage unemployed workers to dig it up. This time the bankers won't even have to dig. (Washington Post)
Europe's Most Expensive Boarding Schools Dec 13, 2007
Past graduates include economist John Maynard Keynes and writer George Orwell. Number 2 in Britain and No. 11 overall: the Charterhouse School in Surrey (tuition: 37,000 euros, or $54,000). (Forbes)
Bernanke's bad-choice moment Dec 12, 2007
As John Maynard Keynes would have triumphantly pointed out (even a blind pig finds a truffle occasionally) the compulsive savers are much more damaging to the world economy than the megalomaniacs, provided the maniacs don't succeed. History has proven time and again that madmen with dreams of world conquest are thoroughly stimulative to economic activity, provided they are not permitted to achieve their goals. (Asia Times Online)
Pedal to metal on gold jewelry prices Dec 11, 2007
Although once branded a "barbaric relic" by the influential economist John Maynard Keynes, gold is still considered by many investors as a safe haven in troubled times. And times have seemed troubled lately, from the spreading US foreclosure crisis to the falling dollar to the standoff over Iran's nuclear program. (Boston Globe)
Words on Wine Dec 1, 2007
- John Maynard Keynes. To taste port is to taste a tiny atom of England and her past. (Epicurious.com)
Simons at Renaissance Cracks Code, Doubling Assets as Top Hedge Fund Firm Nov 28, 2007
John Maynard Keynes is one of the few. Warren Buffett is one of the few. (Bloomberg)
The China Stock Bubble Nov 28, 2007
But as John Maynard Keynes observed, a market can remain irrational longer than you can stay solvent. There have been a number of times it looked like the Chinese bubble was about to burst. (Human Events Online)
Gulf may cut dollar peg as it battles to cool inflation Nov 25, 2007
This would be one of those rare cases where economists John Maynard Keynes and Milton Friedman might have agreed on something. Is it really wise to deal with inflation by loosening fiscal policy. (Business Report, South Africa)
Fed Is a Downer as Gulf Parties Over $100 Oil Nov 23, 2007
This would be one of those rare cases where economists John Maynard Keynes and Milton Friedman might have agreed on something. Is it really wise to deal with inflation by essentially loosening fiscal policy. (Bloomberg -- Columnists)
Is the dollar losing its lustre? Nov 22, 2007
----------------- ----------------- RELATED BBC SITES. Last Updated: Wednesday, 21 November 2007, 12:10 GMT. (BBC News -- UK)
Oh, for the Good Old Days Nov 21, 2007
He agrees with John Maynard Keynes' famous statement that "when the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done.". The author's emphasis on how politics affects economic outcomes is spot-on. (BusinessWeek)
Top Ten Most Harmful Books of the 19th and 20th Centuries Nov 19, 2007
General Theory of Employment, Interest and Money by John Maynard Keynes. Keynes wrote General Theory of Employment, Interest and Money in the midst of the Great Depression. (Human Events Online)
How best to silence homophobes Nov 13, 2007
John Maynard Keynes wrote, "Words ought to be a little wild." John Stuart Mill and John Milton each devoted hundreds of pages to defending freedom of speech. Even Thomas Jefferson got in on the act -- check out the quote above the masthead of The Cavalier Daily. (The Cavalier Daily, VA)
Lessons from Japan Nov 12, 2007
Bloomberg News Published: November 11, 2007. Their Pandora's box has been opened. (International Herald Tribune -- Business Asia)
China's Pyramid Scheme Finds Lessons in Japan: William Pesek Nov 9, 2007
If Adam Smith, John Maynard Keynes or Karl Marx were alive, none of their economic theories would neatly apply. Low Rates. (Bloomberg -- Columnists)
Communism Is Dead Nov 5, 2007
It worked, however, not because of socialism per se, but because of an economic theory produced by a liberal, John Maynard Keynes. The state could exert overall control over the economy by regulating demand, while the welfare state picked up the pieces when things went wrong. (India Times, India)
Wall Street Vs. Main Street Nov 2, 2007
The famous British economist John Maynard Keynes, a seasoned speculator in stocks and commodities for half a century, once called the stock market a "game of Snap, of Old Maid or Musical Chairs--a pastime in which he is victor who says 'Snap' neither too soon nor too late, who passes the Old Maid to his neighbor before the game is over, who secures a chair for himself when the music stops.". This seemingly unpredictable "casino" of "animal spirits" is so maddeningly troublesome, Keynes... (Forbes -- Markets)
The sole inflation creator Oct 30, 2007
This, of course, brings up the quote of the famous economist John Maynard Keynes, who correctly said, "By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is... (Asia Times Online)
Pants on fire Oct 27, 2007
Financial writers of course always have used such imagery, reflecting the "animal spirits" that John Maynard Keynes talked about many decades ago. But I jest. (Asia Times Online)
How government expansion worsens hard times Oct 24, 2007
Regarding this argument, no less a leftist hero than the British economist John Maynard Keynes offered a tart response. He wrote FDR a letter published on December 31, 1933 in the New York Times in which he warned that even wise and necessary Reform may, in some respects, impede and complicate Recovery. (Townhall.com)
PART 1: A structural link Oct 13, 2007
With Albert Frederick Mummery (1855-1895), the great British mountaineer who was killed in 1895 by an avalanche while reconnoitering Nanga Parbat, an 8,000-meter Himalayan peak, Hobson wrote The Physiology of Industry (1889), which argued that an industrial economy requires government intervention to maintain stability, and developed the theory of over-saving that was given a glowing tribute by John Maynard Keynes three decades later. The need for governmental intervention to stabilize an... (Asia Times Online)
