Tag: Aggregate Demand

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Books

The Economic Consequences of the Peace

– London: Macmillan, 1920, vii, 279 pp.; New York: Harcourt, Brace and Howe, 1920, 298 pp.; Amherst, New York: Prometheus, 2004, 298 pp.
Excerpt: The writer of this book was temporarily attached to the British Treasury during the war and was their official representative at the Paris Peace Conference up to June 7, 1919; he… More

A Tract on Monetary Reform

– London: Macmillan, 1923, viii, 209 pp.; New York: Harcourt, Brace, 227 pp.
From Amazon: This book, is devoted to the need for stable currency as the essential foundation of a healthy world economy. Describing the various effects of unstable currency on investors,… More

Essays in Persuasion

– London: Macmillan, 1931, xiii, 376 pp.; New York: Norton, 1963, 376 pp.
Excerpt: Here are collected the croakings of twelve years – the croakings of a Cassandra who could never influence the course of events in time. The volume might have been entitled… More

The General Theory of Employment, Interest, and Money

– New York: Harcourt, Brace & World, 1936, xii, 403, pp.
Excerpt: Capitalism is not for the faint of heart. It is a system of supply and demand that reduces real workingmen and workingwomen into graphs and equations subject to… More

John Maynard Keynes: 1883-1946

– Schumpeter, Joseph A. "John Maynard Keynes: 1883-1946." American Economic Review. Vol. 36, No. 4 (September, 1946), pp. 495-518.
Excerpt: Explanation is not far to seek. The higher ranges of mathematical economics are in the nature of what is in all fields referred to as “pure science.” Results have… More

We Are All Keynesians Now

– "We Are All Keynesians Now." Time. December 31, 1965.
Excerpt: Concluding his most important book with those words in 1935, John Maynard Keynes was confident that he had laid down a philosophy that would move and change men’s affairs.… More

Essays on John Maynard Keynes

– Milo Keynes (ed.). Essays on John Maynard Keynes. Cambridge, UK: Cambridge University Press, 1980.
From Cambridge University Press: The twenty-eight essays in this fascinating and important collection may be divided into three groups: the first is concerned with Keynes’s early life… More

John Maynard Keynes

– Minsky, Hyman P. John Maynard Keynes. New York: Columbia University Press, 1975.
From the Levy Economics Institute: This reissue of Hyman P. Minsky’s classic book offers a timely reconsideration of the work of economics icon John Maynard Keynes. In it, Minsky… More

Democracy in Deficit: The Political Legacy of Lord Keynes

– Buchanan, James and Richard Wagner. Democracy in Deficit: The Political Legacy of Lord Keynes. New York: Academic Press, 1977.
From Amazon: Democracy in Deficit is one of the early comprehensive attempts to apply the basic principles of public-choice analysis to macroeconomic theory and policy. According to Robert… More

Models and Reality in Economic Discourse

– Bell, Daniel. "Models and Reality in Economic Discourse." Public Interest. Special Issue (1980), pp. 46-80.
Excerpt: For more than 35 years, economic theory – the skein of Cambridge (U.K. and U.S.A.) economics woven by Alfred Marshall, John Maynard Keynes, and Paul Samuelson, has been a… More

Keynesian, New Keynesian, and New Classical Economics

– Greenwald, Bruce C. and Joseph E. Stiglitz. "Keynesian, New Keynesian, and New Classical Economics." National Bureau of Economic Research. Working Paper No. 2160 (February, 1987).
Abstract: Much of the new theory of macro-economics that has been built upon micro-economic models of imperfect information leads to conclusions which are surprisingly close in spirit to… More

Keynes’s Monetary Theory: A Different Interpretation

– Meltzer, Allan H. Keynes's Monetary Theory: A Different Interpretation. Cambridge, UK: Cambridge University Press, 1989.
From Cambridge University Press: In this rigorous study of John Maynard Keynes’s views on economic theory and policy from 1920-1946, Professor Meltzer argues that some of… More

John Maynard Keynes by Milton Friedman

– Friedman, Milton. "John Maynard Keynes." Economic Quarterly. Vol. 83, No. 2 (Spring 1997), pp. 1-23.
From the Federal Reserve Bank of Richmond: One colossus of twentieth-century economics assesses the work and influence of another. Milton Friedman argues that John Maynard Keynes… More

The Cambridge Companion to Keynes

– Backhouse, Roger E. and Bradley W. Bateman (eds.). The Cambridge Companion to Keynes. Cambridge, UK: Cambridge University Press, 2006.
From Cambridge University Press: John Maynard Keynes (1883–1946) was the most important economist of the twentieth century. He was also a philosopher who wrote on ethics and the theory of… More

Government Spending Is No Free Lunch

– Barro, Robert J. "Government Spending Is No Free Lunch." Wall Street Journal. January 22, 2009.
Excerpt: What’s the flaw? The theory (a simple Keynesian macroeconomic model) implicitly assumes that the government is better than the private market at marshaling idle resources to… More

“Fear the Boom and Bust” a Hayek vs. Keynes Rap Anthem

– EconStories.tv. "'Fear the Boom and Bust' a Hayek vs. Keynes Rap Anthem." January 23, 2010.
From EconStories.tv: In Fear the Boom and Bust, John Maynard Keynes and F. A. Hayek, two of the great economists of the 20th century, come back to life to attend an economics conference on… More

It’s All About Spending

– Skidelsky, Robert. "It's All About Spending." EconStories. October 24, 2010.
From EconStories: Is our prosperity derived from a continual circular flow of spending? Is it impossible for a society to increase it’s total savings? Can deficit spending by a… More

The General Theory of Employment, Interest and Money after 75 Years: The Importance of Being in the Right Place at the Right Time

– Luzzetti, Matthew N. and Lee E. Ohanian. "The General Theory of Employment, Interest, and Money after 75 Years: The Importance of Being in the Right Place at the Right Time." National Bureau of Economic Research. Working Paper No. 16631 (December, 2010).
Abstract: This paper studies why the General Theory had so much impact on the economics profession through the 1960s, why that impact began to wane in the 1970s, and why many economic… More

Fight of the Century: Keynes vs. Hayek Round Two

– "Fight of the Century: Keynes vs. Hayek Round Two." EconStories.tv. April 27, 2011.
From EconStories.tv: According to the National Bureau of Economic Research, the Great Recession ended almost two years ago, in the summer of 2009. Yet we’re all uneasy. Job growth has… More

Keynes v Hayek

– Selgin, George, et al. "Keynes v Hayek." London School of Economics and Political Science. July 26, 2011.
Speakers: Professor George Selgin, Professor Lord Skidelsky, Duncan Weldon, Dr. Jamie Whyte Chair: Paul Mason

When Keynes and Hayek Clashed

– Wapshott, Nicholas and Robert Johnson. "When Keynes and Hayek Clashed." Institute for New Economic Thinking. December 2, 2011.
From the Institute for New Economic Thinking: Keynes and Hayek were defining figures in 20th century economics. In this INET interview, Nicholas Wapshott talks about his book, Keynes Hayek:… More

Capitalist Revolutionary: John Maynard Keynes

– Backhouse, Roger E. and Bradley W. Bateman. Capitalist Revolutionary: John Maynard Keynes. Cambridge, Massachusetts: Harvard University Press, 2011.
From Harvard University Press: The Great Recession of 2008 restored John Maynard Keynes to prominence. After decades when the Keynesian revolution seemed to have been forgotten, the great… More

Keynesian Economics

– "Keynesian Economics." Khan Academy. March 19, 2012.
This video contrasts Keynesian and classical economic thinking.

Risks of Keynesian Thinking

– "Risks of Keynesian Thinking." Khan Academy. March 19, 2012.
This video explains why Keynesian thinking “might not be ideal sometimes.”

The Modern Revolution in Political Economy by James Piereson

– Piereson, James. "John Maynard Keynes and the Modern Revolution in Political Economy." Society. Vol. 49, Iss. 3 (May, 2012), pp. 263-273.
Excerpt: Keynes understood capitalism to be an historical institution that evolved through different phases, with each one calling for new modes of theory and understanding. He wrote… More

Business Cycles Explained: Keynesian Theory

– Cowen, Tyler. "Business Cycles Explained: Keynesian Theory." Institute for Humane Studies. George Mason University. July 26, 2012.
From Learn Liberty: In the Keynesian corner, Tyler Cowen examines the Keynesian theory of the business cycle. According to the Keynesian model, substantial economic slumps come from falling… More

A Keynesian Beauty Contest

– Sandbu, Martin and Robert Skidelsky. "A Keynesian Beauty Contest." Financial Times. August 8, 2012.
From the Financial Times: John Maynard Keynes, the 20th-century economist, has been back in the news since the crisis started. Lord Skidelsky, historian, economist and Keynes biographer,… More

Keynes Hayek: The Clash that Defined Modern Economics

– Wapshott, Nicholas. Keynes Hayek: The Clash that Defined Modern Economics. New York: W. W. Norton, 2012.
From W. W. Norton: As the stock market crash of 1929 plunged the world into turmoil, two men emerged with competing claims on how to restore balance to economies gone awry. John Maynard… More

The Great Depression and Keynes’s General Theory

– White, Lawrence H. "The Great Depression and Keynes's General Theory." In The Clash of Economic Ideas: The Great Policy Debates and Experiments of the Last Hundred Years. Cambridge, UK: Cambridge University Press, 2012.
From Cambridge University Press: The Clash of Economic Ideas interweaves the economic history of the last hundred years with the history of economic doctrines to understand how contrasting… More

Keynes’s New Heirs by the Economist

– "Keynes's New Heirs." Economist. November 23, 2013.
Excerpt: For economists 2008 was a nightmare. The people who teach and research the discipline mocked by Thomas Carlyle, a 19th-century polemicist, as “the dismal science,” not… More

Keynes: Useful Economics for the World Economy

– Temin, Peter and David Vines. Keynes: Useful Economics for the World Economy. Cambridge, Massachusetts: MIT Press, 2014.
From MIT Press: As the global economic crisis continues to cause damage, some policy makers have called for a more Keynesian approach to current economic problems. In this book, the… More

Essays

The Economic Consequences of the Peace

– London: Macmillan, 1920, vii, 279 pp.; New York: Harcourt, Brace and Howe, 1920, 298 pp.; Amherst, New York: Prometheus, 2004, 298 pp.
Excerpt: The writer of this book was temporarily attached to the British Treasury during the war and was their official representative at the Paris Peace Conference up to June 7, 1919; he… More

A Tract on Monetary Reform

– London: Macmillan, 1923, viii, 209 pp.; New York: Harcourt, Brace, 227 pp.
From Amazon: This book, is devoted to the need for stable currency as the essential foundation of a healthy world economy. Describing the various effects of unstable currency on investors,… More

Essays in Persuasion

– London: Macmillan, 1931, xiii, 376 pp.; New York: Norton, 1963, 376 pp.
Excerpt: Here are collected the croakings of twelve years – the croakings of a Cassandra who could never influence the course of events in time. The volume might have been entitled… More

The General Theory of Employment, Interest, and Money

– New York: Harcourt, Brace & World, 1936, xii, 403, pp.
Excerpt: Capitalism is not for the faint of heart. It is a system of supply and demand that reduces real workingmen and workingwomen into graphs and equations subject to… More

John Maynard Keynes: 1883-1946

– Schumpeter, Joseph A. "John Maynard Keynes: 1883-1946." American Economic Review. Vol. 36, No. 4 (September, 1946), pp. 495-518.
Excerpt: Explanation is not far to seek. The higher ranges of mathematical economics are in the nature of what is in all fields referred to as “pure science.” Results have… More

We Are All Keynesians Now

– "We Are All Keynesians Now." Time. December 31, 1965.
Excerpt: Concluding his most important book with those words in 1935, John Maynard Keynes was confident that he had laid down a philosophy that would move and change men’s affairs.… More

Essays on John Maynard Keynes

– Milo Keynes (ed.). Essays on John Maynard Keynes. Cambridge, UK: Cambridge University Press, 1980.
From Cambridge University Press: The twenty-eight essays in this fascinating and important collection may be divided into three groups: the first is concerned with Keynes’s early life… More

John Maynard Keynes

– Minsky, Hyman P. John Maynard Keynes. New York: Columbia University Press, 1975.
From the Levy Economics Institute: This reissue of Hyman P. Minsky’s classic book offers a timely reconsideration of the work of economics icon John Maynard Keynes. In it, Minsky… More

Democracy in Deficit: The Political Legacy of Lord Keynes

– Buchanan, James and Richard Wagner. Democracy in Deficit: The Political Legacy of Lord Keynes. New York: Academic Press, 1977.
From Amazon: Democracy in Deficit is one of the early comprehensive attempts to apply the basic principles of public-choice analysis to macroeconomic theory and policy. According to Robert… More

Models and Reality in Economic Discourse

– Bell, Daniel. "Models and Reality in Economic Discourse." Public Interest. Special Issue (1980), pp. 46-80.
Excerpt: For more than 35 years, economic theory – the skein of Cambridge (U.K. and U.S.A.) economics woven by Alfred Marshall, John Maynard Keynes, and Paul Samuelson, has been a… More

Keynesian, New Keynesian, and New Classical Economics

– Greenwald, Bruce C. and Joseph E. Stiglitz. "Keynesian, New Keynesian, and New Classical Economics." National Bureau of Economic Research. Working Paper No. 2160 (February, 1987).
Abstract: Much of the new theory of macro-economics that has been built upon micro-economic models of imperfect information leads to conclusions which are surprisingly close in spirit to… More

Keynes’s Monetary Theory: A Different Interpretation

– Meltzer, Allan H. Keynes's Monetary Theory: A Different Interpretation. Cambridge, UK: Cambridge University Press, 1989.
From Cambridge University Press: In this rigorous study of John Maynard Keynes’s views on economic theory and policy from 1920-1946, Professor Meltzer argues that some of… More

John Maynard Keynes by Milton Friedman

– Friedman, Milton. "John Maynard Keynes." Economic Quarterly. Vol. 83, No. 2 (Spring 1997), pp. 1-23.
From the Federal Reserve Bank of Richmond: One colossus of twentieth-century economics assesses the work and influence of another. Milton Friedman argues that John Maynard Keynes… More

The Cambridge Companion to Keynes

– Backhouse, Roger E. and Bradley W. Bateman (eds.). The Cambridge Companion to Keynes. Cambridge, UK: Cambridge University Press, 2006.
From Cambridge University Press: John Maynard Keynes (1883–1946) was the most important economist of the twentieth century. He was also a philosopher who wrote on ethics and the theory of… More

Government Spending Is No Free Lunch

– Barro, Robert J. "Government Spending Is No Free Lunch." Wall Street Journal. January 22, 2009.
Excerpt: What’s the flaw? The theory (a simple Keynesian macroeconomic model) implicitly assumes that the government is better than the private market at marshaling idle resources to… More

“Fear the Boom and Bust” a Hayek vs. Keynes Rap Anthem

– EconStories.tv. "'Fear the Boom and Bust' a Hayek vs. Keynes Rap Anthem." January 23, 2010.
From EconStories.tv: In Fear the Boom and Bust, John Maynard Keynes and F. A. Hayek, two of the great economists of the 20th century, come back to life to attend an economics conference on… More

It’s All About Spending

– Skidelsky, Robert. "It's All About Spending." EconStories. October 24, 2010.
From EconStories: Is our prosperity derived from a continual circular flow of spending? Is it impossible for a society to increase it’s total savings? Can deficit spending by a… More

The General Theory of Employment, Interest and Money after 75 Years: The Importance of Being in the Right Place at the Right Time

– Luzzetti, Matthew N. and Lee E. Ohanian. "The General Theory of Employment, Interest, and Money after 75 Years: The Importance of Being in the Right Place at the Right Time." National Bureau of Economic Research. Working Paper No. 16631 (December, 2010).
Abstract: This paper studies why the General Theory had so much impact on the economics profession through the 1960s, why that impact began to wane in the 1970s, and why many economic… More

Fight of the Century: Keynes vs. Hayek Round Two

– "Fight of the Century: Keynes vs. Hayek Round Two." EconStories.tv. April 27, 2011.
From EconStories.tv: According to the National Bureau of Economic Research, the Great Recession ended almost two years ago, in the summer of 2009. Yet we’re all uneasy. Job growth has… More

Keynes v Hayek

– Selgin, George, et al. "Keynes v Hayek." London School of Economics and Political Science. July 26, 2011.
Speakers: Professor George Selgin, Professor Lord Skidelsky, Duncan Weldon, Dr. Jamie Whyte Chair: Paul Mason

When Keynes and Hayek Clashed

– Wapshott, Nicholas and Robert Johnson. "When Keynes and Hayek Clashed." Institute for New Economic Thinking. December 2, 2011.
From the Institute for New Economic Thinking: Keynes and Hayek were defining figures in 20th century economics. In this INET interview, Nicholas Wapshott talks about his book, Keynes Hayek:… More

Capitalist Revolutionary: John Maynard Keynes

– Backhouse, Roger E. and Bradley W. Bateman. Capitalist Revolutionary: John Maynard Keynes. Cambridge, Massachusetts: Harvard University Press, 2011.
From Harvard University Press: The Great Recession of 2008 restored John Maynard Keynes to prominence. After decades when the Keynesian revolution seemed to have been forgotten, the great… More

Keynesian Economics

– "Keynesian Economics." Khan Academy. March 19, 2012.
This video contrasts Keynesian and classical economic thinking.

Risks of Keynesian Thinking

– "Risks of Keynesian Thinking." Khan Academy. March 19, 2012.
This video explains why Keynesian thinking “might not be ideal sometimes.”

The Modern Revolution in Political Economy by James Piereson

– Piereson, James. "John Maynard Keynes and the Modern Revolution in Political Economy." Society. Vol. 49, Iss. 3 (May, 2012), pp. 263-273.
Excerpt: Keynes understood capitalism to be an historical institution that evolved through different phases, with each one calling for new modes of theory and understanding. He wrote… More

Business Cycles Explained: Keynesian Theory

– Cowen, Tyler. "Business Cycles Explained: Keynesian Theory." Institute for Humane Studies. George Mason University. July 26, 2012.
From Learn Liberty: In the Keynesian corner, Tyler Cowen examines the Keynesian theory of the business cycle. According to the Keynesian model, substantial economic slumps come from falling… More

A Keynesian Beauty Contest

– Sandbu, Martin and Robert Skidelsky. "A Keynesian Beauty Contest." Financial Times. August 8, 2012.
From the Financial Times: John Maynard Keynes, the 20th-century economist, has been back in the news since the crisis started. Lord Skidelsky, historian, economist and Keynes biographer,… More

Keynes Hayek: The Clash that Defined Modern Economics

– Wapshott, Nicholas. Keynes Hayek: The Clash that Defined Modern Economics. New York: W. W. Norton, 2012.
From W. W. Norton: As the stock market crash of 1929 plunged the world into turmoil, two men emerged with competing claims on how to restore balance to economies gone awry. John Maynard… More

The Great Depression and Keynes’s General Theory

– White, Lawrence H. "The Great Depression and Keynes's General Theory." In The Clash of Economic Ideas: The Great Policy Debates and Experiments of the Last Hundred Years. Cambridge, UK: Cambridge University Press, 2012.
From Cambridge University Press: The Clash of Economic Ideas interweaves the economic history of the last hundred years with the history of economic doctrines to understand how contrasting… More

Keynes’s New Heirs by the Economist

– "Keynes's New Heirs." Economist. November 23, 2013.
Excerpt: For economists 2008 was a nightmare. The people who teach and research the discipline mocked by Thomas Carlyle, a 19th-century polemicist, as “the dismal science,” not… More

Keynes: Useful Economics for the World Economy

– Temin, Peter and David Vines. Keynes: Useful Economics for the World Economy. Cambridge, Massachusetts: MIT Press, 2014.
From MIT Press: As the global economic crisis continues to cause damage, some policy makers have called for a more Keynesian approach to current economic problems. In this book, the… More

Commentary

The Economic Consequences of the Peace

– London: Macmillan, 1920, vii, 279 pp.; New York: Harcourt, Brace and Howe, 1920, 298 pp.; Amherst, New York: Prometheus, 2004, 298 pp.
Excerpt: The writer of this book was temporarily attached to the British Treasury during the war and was their official representative at the Paris Peace Conference up to June 7, 1919; he… More

A Tract on Monetary Reform

– London: Macmillan, 1923, viii, 209 pp.; New York: Harcourt, Brace, 227 pp.
From Amazon: This book, is devoted to the need for stable currency as the essential foundation of a healthy world economy. Describing the various effects of unstable currency on investors,… More

Essays in Persuasion

– London: Macmillan, 1931, xiii, 376 pp.; New York: Norton, 1963, 376 pp.
Excerpt: Here are collected the croakings of twelve years – the croakings of a Cassandra who could never influence the course of events in time. The volume might have been entitled… More

The General Theory of Employment, Interest, and Money

– New York: Harcourt, Brace & World, 1936, xii, 403, pp.
Excerpt: Capitalism is not for the faint of heart. It is a system of supply and demand that reduces real workingmen and workingwomen into graphs and equations subject to… More

John Maynard Keynes: 1883-1946

– Schumpeter, Joseph A. "John Maynard Keynes: 1883-1946." American Economic Review. Vol. 36, No. 4 (September, 1946), pp. 495-518.
Excerpt: Explanation is not far to seek. The higher ranges of mathematical economics are in the nature of what is in all fields referred to as “pure science.” Results have… More

We Are All Keynesians Now

– "We Are All Keynesians Now." Time. December 31, 1965.
Excerpt: Concluding his most important book with those words in 1935, John Maynard Keynes was confident that he had laid down a philosophy that would move and change men’s affairs.… More

Essays on John Maynard Keynes

– Milo Keynes (ed.). Essays on John Maynard Keynes. Cambridge, UK: Cambridge University Press, 1980.
From Cambridge University Press: The twenty-eight essays in this fascinating and important collection may be divided into three groups: the first is concerned with Keynes’s early life… More

John Maynard Keynes

– Minsky, Hyman P. John Maynard Keynes. New York: Columbia University Press, 1975.
From the Levy Economics Institute: This reissue of Hyman P. Minsky’s classic book offers a timely reconsideration of the work of economics icon John Maynard Keynes. In it, Minsky… More

Democracy in Deficit: The Political Legacy of Lord Keynes

– Buchanan, James and Richard Wagner. Democracy in Deficit: The Political Legacy of Lord Keynes. New York: Academic Press, 1977.
From Amazon: Democracy in Deficit is one of the early comprehensive attempts to apply the basic principles of public-choice analysis to macroeconomic theory and policy. According to Robert… More

Models and Reality in Economic Discourse

– Bell, Daniel. "Models and Reality in Economic Discourse." Public Interest. Special Issue (1980), pp. 46-80.
Excerpt: For more than 35 years, economic theory – the skein of Cambridge (U.K. and U.S.A.) economics woven by Alfred Marshall, John Maynard Keynes, and Paul Samuelson, has been a… More

Keynesian, New Keynesian, and New Classical Economics

– Greenwald, Bruce C. and Joseph E. Stiglitz. "Keynesian, New Keynesian, and New Classical Economics." National Bureau of Economic Research. Working Paper No. 2160 (February, 1987).
Abstract: Much of the new theory of macro-economics that has been built upon micro-economic models of imperfect information leads to conclusions which are surprisingly close in spirit to… More

Keynes’s Monetary Theory: A Different Interpretation

– Meltzer, Allan H. Keynes's Monetary Theory: A Different Interpretation. Cambridge, UK: Cambridge University Press, 1989.
From Cambridge University Press: In this rigorous study of John Maynard Keynes’s views on economic theory and policy from 1920-1946, Professor Meltzer argues that some of… More

John Maynard Keynes by Milton Friedman

– Friedman, Milton. "John Maynard Keynes." Economic Quarterly. Vol. 83, No. 2 (Spring 1997), pp. 1-23.
From the Federal Reserve Bank of Richmond: One colossus of twentieth-century economics assesses the work and influence of another. Milton Friedman argues that John Maynard Keynes… More

The Cambridge Companion to Keynes

– Backhouse, Roger E. and Bradley W. Bateman (eds.). The Cambridge Companion to Keynes. Cambridge, UK: Cambridge University Press, 2006.
From Cambridge University Press: John Maynard Keynes (1883–1946) was the most important economist of the twentieth century. He was also a philosopher who wrote on ethics and the theory of… More

Government Spending Is No Free Lunch

– Barro, Robert J. "Government Spending Is No Free Lunch." Wall Street Journal. January 22, 2009.
Excerpt: What’s the flaw? The theory (a simple Keynesian macroeconomic model) implicitly assumes that the government is better than the private market at marshaling idle resources to… More

“Fear the Boom and Bust” a Hayek vs. Keynes Rap Anthem

– EconStories.tv. "'Fear the Boom and Bust' a Hayek vs. Keynes Rap Anthem." January 23, 2010.
From EconStories.tv: In Fear the Boom and Bust, John Maynard Keynes and F. A. Hayek, two of the great economists of the 20th century, come back to life to attend an economics conference on… More

It’s All About Spending

– Skidelsky, Robert. "It's All About Spending." EconStories. October 24, 2010.
From EconStories: Is our prosperity derived from a continual circular flow of spending? Is it impossible for a society to increase it’s total savings? Can deficit spending by a… More

The General Theory of Employment, Interest and Money after 75 Years: The Importance of Being in the Right Place at the Right Time

– Luzzetti, Matthew N. and Lee E. Ohanian. "The General Theory of Employment, Interest, and Money after 75 Years: The Importance of Being in the Right Place at the Right Time." National Bureau of Economic Research. Working Paper No. 16631 (December, 2010).
Abstract: This paper studies why the General Theory had so much impact on the economics profession through the 1960s, why that impact began to wane in the 1970s, and why many economic… More

Fight of the Century: Keynes vs. Hayek Round Two

– "Fight of the Century: Keynes vs. Hayek Round Two." EconStories.tv. April 27, 2011.
From EconStories.tv: According to the National Bureau of Economic Research, the Great Recession ended almost two years ago, in the summer of 2009. Yet we’re all uneasy. Job growth has… More

Keynes v Hayek

– Selgin, George, et al. "Keynes v Hayek." London School of Economics and Political Science. July 26, 2011.
Speakers: Professor George Selgin, Professor Lord Skidelsky, Duncan Weldon, Dr. Jamie Whyte Chair: Paul Mason

When Keynes and Hayek Clashed

– Wapshott, Nicholas and Robert Johnson. "When Keynes and Hayek Clashed." Institute for New Economic Thinking. December 2, 2011.
From the Institute for New Economic Thinking: Keynes and Hayek were defining figures in 20th century economics. In this INET interview, Nicholas Wapshott talks about his book, Keynes Hayek:… More

Capitalist Revolutionary: John Maynard Keynes

– Backhouse, Roger E. and Bradley W. Bateman. Capitalist Revolutionary: John Maynard Keynes. Cambridge, Massachusetts: Harvard University Press, 2011.
From Harvard University Press: The Great Recession of 2008 restored John Maynard Keynes to prominence. After decades when the Keynesian revolution seemed to have been forgotten, the great… More

Keynesian Economics

– "Keynesian Economics." Khan Academy. March 19, 2012.
This video contrasts Keynesian and classical economic thinking.

Risks of Keynesian Thinking

– "Risks of Keynesian Thinking." Khan Academy. March 19, 2012.
This video explains why Keynesian thinking “might not be ideal sometimes.”

The Modern Revolution in Political Economy by James Piereson

– Piereson, James. "John Maynard Keynes and the Modern Revolution in Political Economy." Society. Vol. 49, Iss. 3 (May, 2012), pp. 263-273.
Excerpt: Keynes understood capitalism to be an historical institution that evolved through different phases, with each one calling for new modes of theory and understanding. He wrote… More

Business Cycles Explained: Keynesian Theory

– Cowen, Tyler. "Business Cycles Explained: Keynesian Theory." Institute for Humane Studies. George Mason University. July 26, 2012.
From Learn Liberty: In the Keynesian corner, Tyler Cowen examines the Keynesian theory of the business cycle. According to the Keynesian model, substantial economic slumps come from falling… More

A Keynesian Beauty Contest

– Sandbu, Martin and Robert Skidelsky. "A Keynesian Beauty Contest." Financial Times. August 8, 2012.
From the Financial Times: John Maynard Keynes, the 20th-century economist, has been back in the news since the crisis started. Lord Skidelsky, historian, economist and Keynes biographer,… More

Keynes Hayek: The Clash that Defined Modern Economics

– Wapshott, Nicholas. Keynes Hayek: The Clash that Defined Modern Economics. New York: W. W. Norton, 2012.
From W. W. Norton: As the stock market crash of 1929 plunged the world into turmoil, two men emerged with competing claims on how to restore balance to economies gone awry. John Maynard… More

The Great Depression and Keynes’s General Theory

– White, Lawrence H. "The Great Depression and Keynes's General Theory." In The Clash of Economic Ideas: The Great Policy Debates and Experiments of the Last Hundred Years. Cambridge, UK: Cambridge University Press, 2012.
From Cambridge University Press: The Clash of Economic Ideas interweaves the economic history of the last hundred years with the history of economic doctrines to understand how contrasting… More

Keynes’s New Heirs by the Economist

– "Keynes's New Heirs." Economist. November 23, 2013.
Excerpt: For economists 2008 was a nightmare. The people who teach and research the discipline mocked by Thomas Carlyle, a 19th-century polemicist, as “the dismal science,” not… More

Keynes: Useful Economics for the World Economy

– Temin, Peter and David Vines. Keynes: Useful Economics for the World Economy. Cambridge, Massachusetts: MIT Press, 2014.
From MIT Press: As the global economic crisis continues to cause damage, some policy makers have called for a more Keynesian approach to current economic problems. In this book, the… More

Multimedia

The Economic Consequences of the Peace

– London: Macmillan, 1920, vii, 279 pp.; New York: Harcourt, Brace and Howe, 1920, 298 pp.; Amherst, New York: Prometheus, 2004, 298 pp.
Excerpt: The writer of this book was temporarily attached to the British Treasury during the war and was their official representative at the Paris Peace Conference up to June 7, 1919; he… More

A Tract on Monetary Reform

– London: Macmillan, 1923, viii, 209 pp.; New York: Harcourt, Brace, 227 pp.
From Amazon: This book, is devoted to the need for stable currency as the essential foundation of a healthy world economy. Describing the various effects of unstable currency on investors,… More

Essays in Persuasion

– London: Macmillan, 1931, xiii, 376 pp.; New York: Norton, 1963, 376 pp.
Excerpt: Here are collected the croakings of twelve years – the croakings of a Cassandra who could never influence the course of events in time. The volume might have been entitled… More

The General Theory of Employment, Interest, and Money

– New York: Harcourt, Brace & World, 1936, xii, 403, pp.
Excerpt: Capitalism is not for the faint of heart. It is a system of supply and demand that reduces real workingmen and workingwomen into graphs and equations subject to… More

John Maynard Keynes: 1883-1946

– Schumpeter, Joseph A. "John Maynard Keynes: 1883-1946." American Economic Review. Vol. 36, No. 4 (September, 1946), pp. 495-518.
Excerpt: Explanation is not far to seek. The higher ranges of mathematical economics are in the nature of what is in all fields referred to as “pure science.” Results have… More

We Are All Keynesians Now

– "We Are All Keynesians Now." Time. December 31, 1965.
Excerpt: Concluding his most important book with those words in 1935, John Maynard Keynes was confident that he had laid down a philosophy that would move and change men’s affairs.… More

Essays on John Maynard Keynes

– Milo Keynes (ed.). Essays on John Maynard Keynes. Cambridge, UK: Cambridge University Press, 1980.
From Cambridge University Press: The twenty-eight essays in this fascinating and important collection may be divided into three groups: the first is concerned with Keynes’s early life… More

John Maynard Keynes

– Minsky, Hyman P. John Maynard Keynes. New York: Columbia University Press, 1975.
From the Levy Economics Institute: This reissue of Hyman P. Minsky’s classic book offers a timely reconsideration of the work of economics icon John Maynard Keynes. In it, Minsky… More

Democracy in Deficit: The Political Legacy of Lord Keynes

– Buchanan, James and Richard Wagner. Democracy in Deficit: The Political Legacy of Lord Keynes. New York: Academic Press, 1977.
From Amazon: Democracy in Deficit is one of the early comprehensive attempts to apply the basic principles of public-choice analysis to macroeconomic theory and policy. According to Robert… More

Models and Reality in Economic Discourse

– Bell, Daniel. "Models and Reality in Economic Discourse." Public Interest. Special Issue (1980), pp. 46-80.
Excerpt: For more than 35 years, economic theory – the skein of Cambridge (U.K. and U.S.A.) economics woven by Alfred Marshall, John Maynard Keynes, and Paul Samuelson, has been a… More

Keynesian, New Keynesian, and New Classical Economics

– Greenwald, Bruce C. and Joseph E. Stiglitz. "Keynesian, New Keynesian, and New Classical Economics." National Bureau of Economic Research. Working Paper No. 2160 (February, 1987).
Abstract: Much of the new theory of macro-economics that has been built upon micro-economic models of imperfect information leads to conclusions which are surprisingly close in spirit to… More

Keynes’s Monetary Theory: A Different Interpretation

– Meltzer, Allan H. Keynes's Monetary Theory: A Different Interpretation. Cambridge, UK: Cambridge University Press, 1989.
From Cambridge University Press: In this rigorous study of John Maynard Keynes’s views on economic theory and policy from 1920-1946, Professor Meltzer argues that some of… More

John Maynard Keynes by Milton Friedman

– Friedman, Milton. "John Maynard Keynes." Economic Quarterly. Vol. 83, No. 2 (Spring 1997), pp. 1-23.
From the Federal Reserve Bank of Richmond: One colossus of twentieth-century economics assesses the work and influence of another. Milton Friedman argues that John Maynard Keynes… More

The Cambridge Companion to Keynes

– Backhouse, Roger E. and Bradley W. Bateman (eds.). The Cambridge Companion to Keynes. Cambridge, UK: Cambridge University Press, 2006.
From Cambridge University Press: John Maynard Keynes (1883–1946) was the most important economist of the twentieth century. He was also a philosopher who wrote on ethics and the theory of… More

Government Spending Is No Free Lunch

– Barro, Robert J. "Government Spending Is No Free Lunch." Wall Street Journal. January 22, 2009.
Excerpt: What’s the flaw? The theory (a simple Keynesian macroeconomic model) implicitly assumes that the government is better than the private market at marshaling idle resources to… More

“Fear the Boom and Bust” a Hayek vs. Keynes Rap Anthem

– EconStories.tv. "'Fear the Boom and Bust' a Hayek vs. Keynes Rap Anthem." January 23, 2010.
From EconStories.tv: In Fear the Boom and Bust, John Maynard Keynes and F. A. Hayek, two of the great economists of the 20th century, come back to life to attend an economics conference on… More

It’s All About Spending

– Skidelsky, Robert. "It's All About Spending." EconStories. October 24, 2010.
From EconStories: Is our prosperity derived from a continual circular flow of spending? Is it impossible for a society to increase it’s total savings? Can deficit spending by a… More

The General Theory of Employment, Interest and Money after 75 Years: The Importance of Being in the Right Place at the Right Time

– Luzzetti, Matthew N. and Lee E. Ohanian. "The General Theory of Employment, Interest, and Money after 75 Years: The Importance of Being in the Right Place at the Right Time." National Bureau of Economic Research. Working Paper No. 16631 (December, 2010).
Abstract: This paper studies why the General Theory had so much impact on the economics profession through the 1960s, why that impact began to wane in the 1970s, and why many economic… More

Fight of the Century: Keynes vs. Hayek Round Two

– "Fight of the Century: Keynes vs. Hayek Round Two." EconStories.tv. April 27, 2011.
From EconStories.tv: According to the National Bureau of Economic Research, the Great Recession ended almost two years ago, in the summer of 2009. Yet we’re all uneasy. Job growth has… More

Keynes v Hayek

– Selgin, George, et al. "Keynes v Hayek." London School of Economics and Political Science. July 26, 2011.
Speakers: Professor George Selgin, Professor Lord Skidelsky, Duncan Weldon, Dr. Jamie Whyte Chair: Paul Mason

When Keynes and Hayek Clashed

– Wapshott, Nicholas and Robert Johnson. "When Keynes and Hayek Clashed." Institute for New Economic Thinking. December 2, 2011.
From the Institute for New Economic Thinking: Keynes and Hayek were defining figures in 20th century economics. In this INET interview, Nicholas Wapshott talks about his book, Keynes Hayek:… More

Capitalist Revolutionary: John Maynard Keynes

– Backhouse, Roger E. and Bradley W. Bateman. Capitalist Revolutionary: John Maynard Keynes. Cambridge, Massachusetts: Harvard University Press, 2011.
From Harvard University Press: The Great Recession of 2008 restored John Maynard Keynes to prominence. After decades when the Keynesian revolution seemed to have been forgotten, the great… More

Keynesian Economics

– "Keynesian Economics." Khan Academy. March 19, 2012.
This video contrasts Keynesian and classical economic thinking.

Risks of Keynesian Thinking

– "Risks of Keynesian Thinking." Khan Academy. March 19, 2012.
This video explains why Keynesian thinking “might not be ideal sometimes.”

The Modern Revolution in Political Economy by James Piereson

– Piereson, James. "John Maynard Keynes and the Modern Revolution in Political Economy." Society. Vol. 49, Iss. 3 (May, 2012), pp. 263-273.
Excerpt: Keynes understood capitalism to be an historical institution that evolved through different phases, with each one calling for new modes of theory and understanding. He wrote… More

Business Cycles Explained: Keynesian Theory

– Cowen, Tyler. "Business Cycles Explained: Keynesian Theory." Institute for Humane Studies. George Mason University. July 26, 2012.
From Learn Liberty: In the Keynesian corner, Tyler Cowen examines the Keynesian theory of the business cycle. According to the Keynesian model, substantial economic slumps come from falling… More

A Keynesian Beauty Contest

– Sandbu, Martin and Robert Skidelsky. "A Keynesian Beauty Contest." Financial Times. August 8, 2012.
From the Financial Times: John Maynard Keynes, the 20th-century economist, has been back in the news since the crisis started. Lord Skidelsky, historian, economist and Keynes biographer,… More

Keynes Hayek: The Clash that Defined Modern Economics

– Wapshott, Nicholas. Keynes Hayek: The Clash that Defined Modern Economics. New York: W. W. Norton, 2012.
From W. W. Norton: As the stock market crash of 1929 plunged the world into turmoil, two men emerged with competing claims on how to restore balance to economies gone awry. John Maynard… More

The Great Depression and Keynes’s General Theory

– White, Lawrence H. "The Great Depression and Keynes's General Theory." In The Clash of Economic Ideas: The Great Policy Debates and Experiments of the Last Hundred Years. Cambridge, UK: Cambridge University Press, 2012.
From Cambridge University Press: The Clash of Economic Ideas interweaves the economic history of the last hundred years with the history of economic doctrines to understand how contrasting… More

Keynes’s New Heirs by the Economist

– "Keynes's New Heirs." Economist. November 23, 2013.
Excerpt: For economists 2008 was a nightmare. The people who teach and research the discipline mocked by Thomas Carlyle, a 19th-century polemicist, as “the dismal science,” not… More

Keynes: Useful Economics for the World Economy

– Temin, Peter and David Vines. Keynes: Useful Economics for the World Economy. Cambridge, Massachusetts: MIT Press, 2014.
From MIT Press: As the global economic crisis continues to cause damage, some policy makers have called for a more Keynesian approach to current economic problems. In this book, the… More

Teaching

The Economic Consequences of the Peace

– London: Macmillan, 1920, vii, 279 pp.; New York: Harcourt, Brace and Howe, 1920, 298 pp.; Amherst, New York: Prometheus, 2004, 298 pp.
Excerpt: The writer of this book was temporarily attached to the British Treasury during the war and was their official representative at the Paris Peace Conference up to June 7, 1919; he… More

A Tract on Monetary Reform

– London: Macmillan, 1923, viii, 209 pp.; New York: Harcourt, Brace, 227 pp.
From Amazon: This book, is devoted to the need for stable currency as the essential foundation of a healthy world economy. Describing the various effects of unstable currency on investors,… More

Essays in Persuasion

– London: Macmillan, 1931, xiii, 376 pp.; New York: Norton, 1963, 376 pp.
Excerpt: Here are collected the croakings of twelve years – the croakings of a Cassandra who could never influence the course of events in time. The volume might have been entitled… More

The General Theory of Employment, Interest, and Money

– New York: Harcourt, Brace & World, 1936, xii, 403, pp.
Excerpt: Capitalism is not for the faint of heart. It is a system of supply and demand that reduces real workingmen and workingwomen into graphs and equations subject to… More

John Maynard Keynes: 1883-1946

– Schumpeter, Joseph A. "John Maynard Keynes: 1883-1946." American Economic Review. Vol. 36, No. 4 (September, 1946), pp. 495-518.
Excerpt: Explanation is not far to seek. The higher ranges of mathematical economics are in the nature of what is in all fields referred to as “pure science.” Results have… More

We Are All Keynesians Now

– "We Are All Keynesians Now." Time. December 31, 1965.
Excerpt: Concluding his most important book with those words in 1935, John Maynard Keynes was confident that he had laid down a philosophy that would move and change men’s affairs.… More

Essays on John Maynard Keynes

– Milo Keynes (ed.). Essays on John Maynard Keynes. Cambridge, UK: Cambridge University Press, 1980.
From Cambridge University Press: The twenty-eight essays in this fascinating and important collection may be divided into three groups: the first is concerned with Keynes’s early life… More

John Maynard Keynes

– Minsky, Hyman P. John Maynard Keynes. New York: Columbia University Press, 1975.
From the Levy Economics Institute: This reissue of Hyman P. Minsky’s classic book offers a timely reconsideration of the work of economics icon John Maynard Keynes. In it, Minsky… More

Democracy in Deficit: The Political Legacy of Lord Keynes

– Buchanan, James and Richard Wagner. Democracy in Deficit: The Political Legacy of Lord Keynes. New York: Academic Press, 1977.
From Amazon: Democracy in Deficit is one of the early comprehensive attempts to apply the basic principles of public-choice analysis to macroeconomic theory and policy. According to Robert… More

Models and Reality in Economic Discourse

– Bell, Daniel. "Models and Reality in Economic Discourse." Public Interest. Special Issue (1980), pp. 46-80.
Excerpt: For more than 35 years, economic theory – the skein of Cambridge (U.K. and U.S.A.) economics woven by Alfred Marshall, John Maynard Keynes, and Paul Samuelson, has been a… More

Keynesian, New Keynesian, and New Classical Economics

– Greenwald, Bruce C. and Joseph E. Stiglitz. "Keynesian, New Keynesian, and New Classical Economics." National Bureau of Economic Research. Working Paper No. 2160 (February, 1987).
Abstract: Much of the new theory of macro-economics that has been built upon micro-economic models of imperfect information leads to conclusions which are surprisingly close in spirit to… More

Keynes’s Monetary Theory: A Different Interpretation

– Meltzer, Allan H. Keynes's Monetary Theory: A Different Interpretation. Cambridge, UK: Cambridge University Press, 1989.
From Cambridge University Press: In this rigorous study of John Maynard Keynes’s views on economic theory and policy from 1920-1946, Professor Meltzer argues that some of… More

John Maynard Keynes by Milton Friedman

– Friedman, Milton. "John Maynard Keynes." Economic Quarterly. Vol. 83, No. 2 (Spring 1997), pp. 1-23.
From the Federal Reserve Bank of Richmond: One colossus of twentieth-century economics assesses the work and influence of another. Milton Friedman argues that John Maynard Keynes… More

The Cambridge Companion to Keynes

– Backhouse, Roger E. and Bradley W. Bateman (eds.). The Cambridge Companion to Keynes. Cambridge, UK: Cambridge University Press, 2006.
From Cambridge University Press: John Maynard Keynes (1883–1946) was the most important economist of the twentieth century. He was also a philosopher who wrote on ethics and the theory of… More

Government Spending Is No Free Lunch

– Barro, Robert J. "Government Spending Is No Free Lunch." Wall Street Journal. January 22, 2009.
Excerpt: What’s the flaw? The theory (a simple Keynesian macroeconomic model) implicitly assumes that the government is better than the private market at marshaling idle resources to… More

“Fear the Boom and Bust” a Hayek vs. Keynes Rap Anthem

– EconStories.tv. "'Fear the Boom and Bust' a Hayek vs. Keynes Rap Anthem." January 23, 2010.
From EconStories.tv: In Fear the Boom and Bust, John Maynard Keynes and F. A. Hayek, two of the great economists of the 20th century, come back to life to attend an economics conference on… More

It’s All About Spending

– Skidelsky, Robert. "It's All About Spending." EconStories. October 24, 2010.
From EconStories: Is our prosperity derived from a continual circular flow of spending? Is it impossible for a society to increase it’s total savings? Can deficit spending by a… More

The General Theory of Employment, Interest and Money after 75 Years: The Importance of Being in the Right Place at the Right Time

– Luzzetti, Matthew N. and Lee E. Ohanian. "The General Theory of Employment, Interest, and Money after 75 Years: The Importance of Being in the Right Place at the Right Time." National Bureau of Economic Research. Working Paper No. 16631 (December, 2010).
Abstract: This paper studies why the General Theory had so much impact on the economics profession through the 1960s, why that impact began to wane in the 1970s, and why many economic… More

Fight of the Century: Keynes vs. Hayek Round Two

– "Fight of the Century: Keynes vs. Hayek Round Two." EconStories.tv. April 27, 2011.
From EconStories.tv: According to the National Bureau of Economic Research, the Great Recession ended almost two years ago, in the summer of 2009. Yet we’re all uneasy. Job growth has… More

Keynes v Hayek

– Selgin, George, et al. "Keynes v Hayek." London School of Economics and Political Science. July 26, 2011.
Speakers: Professor George Selgin, Professor Lord Skidelsky, Duncan Weldon, Dr. Jamie Whyte Chair: Paul Mason

When Keynes and Hayek Clashed

– Wapshott, Nicholas and Robert Johnson. "When Keynes and Hayek Clashed." Institute for New Economic Thinking. December 2, 2011.
From the Institute for New Economic Thinking: Keynes and Hayek were defining figures in 20th century economics. In this INET interview, Nicholas Wapshott talks about his book, Keynes Hayek:… More

Capitalist Revolutionary: John Maynard Keynes

– Backhouse, Roger E. and Bradley W. Bateman. Capitalist Revolutionary: John Maynard Keynes. Cambridge, Massachusetts: Harvard University Press, 2011.
From Harvard University Press: The Great Recession of 2008 restored John Maynard Keynes to prominence. After decades when the Keynesian revolution seemed to have been forgotten, the great… More

Keynesian Economics

– "Keynesian Economics." Khan Academy. March 19, 2012.
This video contrasts Keynesian and classical economic thinking.

Risks of Keynesian Thinking

– "Risks of Keynesian Thinking." Khan Academy. March 19, 2012.
This video explains why Keynesian thinking “might not be ideal sometimes.”

The Modern Revolution in Political Economy by James Piereson

– Piereson, James. "John Maynard Keynes and the Modern Revolution in Political Economy." Society. Vol. 49, Iss. 3 (May, 2012), pp. 263-273.
Excerpt: Keynes understood capitalism to be an historical institution that evolved through different phases, with each one calling for new modes of theory and understanding. He wrote… More

Business Cycles Explained: Keynesian Theory

– Cowen, Tyler. "Business Cycles Explained: Keynesian Theory." Institute for Humane Studies. George Mason University. July 26, 2012.
From Learn Liberty: In the Keynesian corner, Tyler Cowen examines the Keynesian theory of the business cycle. According to the Keynesian model, substantial economic slumps come from falling… More

A Keynesian Beauty Contest

– Sandbu, Martin and Robert Skidelsky. "A Keynesian Beauty Contest." Financial Times. August 8, 2012.
From the Financial Times: John Maynard Keynes, the 20th-century economist, has been back in the news since the crisis started. Lord Skidelsky, historian, economist and Keynes biographer,… More

Keynes Hayek: The Clash that Defined Modern Economics

– Wapshott, Nicholas. Keynes Hayek: The Clash that Defined Modern Economics. New York: W. W. Norton, 2012.
From W. W. Norton: As the stock market crash of 1929 plunged the world into turmoil, two men emerged with competing claims on how to restore balance to economies gone awry. John Maynard… More

The Great Depression and Keynes’s General Theory

– White, Lawrence H. "The Great Depression and Keynes's General Theory." In The Clash of Economic Ideas: The Great Policy Debates and Experiments of the Last Hundred Years. Cambridge, UK: Cambridge University Press, 2012.
From Cambridge University Press: The Clash of Economic Ideas interweaves the economic history of the last hundred years with the history of economic doctrines to understand how contrasting… More

Keynes’s New Heirs by the Economist

– "Keynes's New Heirs." Economist. November 23, 2013.
Excerpt: For economists 2008 was a nightmare. The people who teach and research the discipline mocked by Thomas Carlyle, a 19th-century polemicist, as “the dismal science,” not… More

Keynes: Useful Economics for the World Economy

– Temin, Peter and David Vines. Keynes: Useful Economics for the World Economy. Cambridge, Massachusetts: MIT Press, 2014.
From MIT Press: As the global economic crisis continues to cause damage, some policy makers have called for a more Keynesian approach to current economic problems. In this book, the… More