Scott Sumner points us to this interesting proof that the Keynesian economic model must be true. For the Financial Times is crowing about the fact that when government spending rises then so does GDP.

During the great depression of the 1930s, existing economic theory was unable either to explain the causes of the severe worldwide economic collapse or to provide an adequate public policy solution to ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Robert Kelly is managing director of ...

Consumption-habits have become an integral component in new Keynesian models. However, consumption-habits can be modeled in a host of different ways and this diversity is reflected in the literature.

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The two most prominent theories of macroeconomics to emerge during the 20 th century are the Keynesian Theory of Money and the Monetarism Theory. Keynesian thought traces back to the early part of the ...

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, ...

JPKE is a scholarly journal of innovative theoretical and empirical work that examines contemporary economic problems. It is committed to the principle that the cumulative development of economic ...

Keynes was an influential policy analyst and economist who lived from 1883 to 1946. His seminal work, “The General Theory of Employment Interest and Money,” became a founding force behind modern ...

Just how important is money? Few would deny that it plays a key role in the economy.­ During the Great Depression of the 1930s, existing economic theory was unable either to explain the causes of the ...