John D. Mueller

Keynes himself explicitly stated that if prices are fixed in ‘real’ terms, ‘stimulative’ Keynesian policy would not work (a proviso often ignored by Keynesian followers).

Especially in context of the 2016 presidential election, in which ‘Inequality’ has emerged as perhaps the foremost issue, we must recast James Carville’s 1992 trope, ‘The Economy Stupid.’ Whether at the global, national, state or local community levels, even on the economy, ‘It’s Marriage, Stupid.’

Legal abortion is the main cause of family breakdown, in not just the United States but the world, including specifically rises in rates of divorce, illegitimacy and crime, and entry of most developed nations–now including the United States–into ‘demographic winter.’

Now, as in 1929 and 2008, Americans need real protection from economic harm. But this harm is not caused by immigrants or foreigners, but by the reserve currency scheme of John Maynard Keynes, and the currency wars which his scheme has caused for a century.

While Michael Watson’s effort to fill the theoretical gap in modern ‘neoclassical’ economic theory is welcome, it too falls short through ‘underdetermination,’ attempting to make a single element—the theory of utility—explain both consumption and ‘final distribution.’

Austrian Economics scholars observe Christmas by gift-giving in even greater proportion than the general population. But this creates an explanatory problem, because no school of modern economics, including the Austrian School, has an adequate theory of personal gifts.

Though most economic inequality–both between and within countries–is due to differences in what Nobel economics laureate Theodore W. Schultrz called ‘human capital’,’ the current monetary system also breeds systematic economic inequality among American households.

The economic crisis of 2008-09 was similar to the crisis that triggered the Great Depression–both caused by the ‘demand duplication’ required by using the dollar as an official reserve currency.

Roughly speaking, scholastic economic theory is the analytical toolkit that the popes have used to discuss the new pastoral challenges of economic history as it unfolds.

Keynesians who like Professor Krugman engage in magical thinking have never been infrequent. What is new is that they are being joined in growing numbers by Keynesians who don’t.

The debate that led to Jack Kemp’s Gold Standard Act of 1984 also explains why the agreement on gold that eluded President Ronald Reagan is now finally possible.

Congress created the three major economic problems that haunt the United States today by ending the classical gold standard.