Tags » John Maynard Keynes

Ending Welfare As We Know It

By George P. Brockway, originally published March 14, 1994

POLITICAL COMMENTATORS are practically unanimous in telling us that Candidate Bill Clinton’s most popular sound bite in his 1992 campaign was a pledge to… 1,765 more words

The Dismal Science

Opinion: Uh oh, Ottawa is getting into venture capitalism

In 1926, John Maynard Keynes, soon to be the founder of Keynesian economics and as such hardly a shill for unfettered free enterprise, wrote that: “The important thing for government is not to do things which individuals are doing already, and to do them a little better or a little worse; but to do those things which at present are not done at all.” 540 more words

Canada

Game theory in the stock market: On the Island of the Green-Eyed Tribe, blue eyes are taboo


In response to yesterday’s piece a friend pointed out that John Maynard Keynes’ “stock market as a beauty contest” parable is an example of common knowledge game in modern game theory. 1,649 more words

Analysis

Making a Mess of Russia

By George P. Brockway, originally published January 17, 1994

THE NEWS FROM RUSSIA these days reduces one very quickly to hysterical laughter or hysterical tears. We sometimes seem to be well on the way toward Cold War II or World War III; and if we achieve one or the other (or both), we’ll have the economists of the world, with our economists in the vanguard, to thank. 1,829 more words

The Dismal Science

The Keynesian Paradigm

Classical economic theory offered no justification for government intervention during the Great Depression. Based on the notion that the economy is self-regulating, the theory counseled waiting out business cycle contractions that would correct themselves and initiate a recovery. 398 more words

Politics

Sensex @28,500 : Stock Market as a beauty contest

Vivek Kaul

We never know what we are talking about – Karl Popper

The Sensex closed at 28,499.54 points yesterday (i.e. November 24, 2014). The fund managers are confident that this bull run will last for a while. 1,156 more words

Analysis

William Watson: Ottawa ponies up to the dragons' den

In 1926, John Maynard Keynes, soon to be the founder of Keynesian economics and as such hardly a shill for unfettered free enterprise, wrote that: “The important thing for government is not to do things which individuals are doing already, and to do them a little better or a little worse; but to do those things which at present are not done at all.” It should address itself ”to those decisions which are made by no one if the State does not make them.” He wrote this in an essay entitled “The End of Laissez-Faire,” which, whatever we may think of the Roaring Twenties, he believed had occurred a half century earlier. 622 more words

Politics