The November mid-term elections were a citizen referendum for reductions in the size and scope of the federal government. But can federal spending and the budget deficit actually be reduced ...

Learn about Say's Law of Markets, how production drives economic demand, implications for growth and policy, and its ...

Barack Obama seems to have been convinced that Keynesian economics -- the notion that government can stimulate the economy by borrowing money and giving it to people so they can spend it -- is the way ...

We construct a multiagent system (MAS) model of cyclical growth in which aggregate fluctuations result from variations in activity at the firm level. The latter, in turn, result from changes in ...

Journal of Post Keynesian Economics, Vol. 39, No. 1 (2016), pp. 17-43 (27 pages) On first encounter, the ergodic/nonergodic (ENE) approach has apparent plausibility. Although concerned by some of its ...

Linearized New Keynesian models and empirical no-arbitrage macro-finance models offer little insight regarding the implications of changes in bond term premiums for economic activity. We investigate ...

Forbes contributors publish independent expert analyses and insights. Hersh Shefrin analyzes how psychology impacts markets and policy. John Maynard Keynes’ book The General Theory of Interest, ...

We live in a highly politicized world today – we spite our neighbors, refuse to watch certain news channels, and increasingly ignore any information which counters our own preconceived views. Our ...