Morbid optimism, from the banks to the streets

    Out amongst the usual street theater that follows a meeting of world economic powers like that held last week in London, the observer will behold a good sample of debased political idiom. The banners read like cant on stilts: “Abolish money” and “One currency, one government, one world” and “The government lies” and “Democracy is an illusion” and — my favorite — “No borders anywhere.” | Read More »

    Technical error.

    Keynes (right) with Harry Dexter White The volume of Keynesian and neo-Keynesian economic prescriptions churning out of the newspapers and talking heads on TV right now is a something to behold, ain’t it? One shudders at the thought of the despondency that will greet the eventual failure of most of these remedies. We have a very unusual and in a basic sense unstable condition where | Read More »