Shrink the State. End the Fed. Balance the budget. Make a profit. Leave an inheritance.
Gary North
Posted on October 21, 2014
So as to give some perspective, I’m going to ask readers for their guesses about human behavior before explaining my embarrassment by some of my fellow economists. Suppose the prices of ladies jewelry rose by 100 percent. What would you predict would happen to sales? What about a 25 or 50 percent price increase? I’m […]
Continue reading →Posted on October 11, 2014
This gets to the point. He has departed from Princeton University (ranked by Forbes: 4). He is heading for the City University of New York (ranked by Forbes: 215).
Continue reading →Written by Gary North on October 8, 2014
Approximately half of all Americans receive government subsidies of one kind or another. This is seen by some conservatives as the demise of the American Republic, the death-knell of resistance to the welfare state. It is nothing of the sort. It is strong evidence of the opposite: the high-water mark of the American welfare state. […]
Continue reading →Written by Gary North on September 25, 2014
In 1919, John Maynard Keynes became an international figure of considerable influence because of his book, The Economic Consequences of the Peace. It was a critique of the Versailles Treaty’s imposition of reparations payments on Germany in the aftermath of World War I. In that book, Keynes made the following observations. Lenin is said to […]
Continue reading →Written by Gary North on September 16, 2014
The American conservative movement is dominated by gravediggers and hustlers. Both groups are Keynesian to the core. This has been true ever since the movement began in the Hiss-Chambers hearings in 1948. The Old Right of the 1930’s was committed to tearing down the New Deal. The Middle Right, 1948-1980, was committed to strengthening the […]
Continue reading →Written by Gary North on July 5, 2014
At first, I thought this article was a parody. Then I realized the author is serious. The title: Obama’s greatest failure: The rapidly falling deficit. The author writes: Ever since 2009, when the recession and the stimulus package pushed the annual budget deficit to a peak of nearly $1.5 trillion, it has been falling steadily. […]
Continue reading →Written by Gary North on June 18, 2014
Yesterday, I published an article on Tyler Cowen. I argued that he has gone Keynesian. This of course assumes that he was not previously a Keynesian. Maybe you thought: “So what?” Today, I want to explain why this is significant. Tyler Cowen is the director of the Mercatus Center of George Mason University. The multi-billionaire […]
Continue reading →Written by Gary North on June 17, 2014
I begin with a statement. Would you say it sounds Keynesian? The continuing slowness of economic growth in high-income economies has prompted soul-searching among economists. They have looked to weak demand, rising inequality, Chinese competition, over-regulation, inadequate infrastructure and an exhaustion of new technological ideas as possible culprits.An additional explanation of slow growth is now […]
Continue reading →Written by Gary North on March 20, 2014
Jim Sinclair now predicts that gold will be at $50,000 sometime in 2020. This is all over the Web. With gold at about $1330 an ounce these days, the price would have to multiply by a factor of 38 to reach $50,000. Let me the be the first to say that this is not going […]
Continue reading →Written by Gary North on February 24, 2014
I have learned over the last half-century that there are two litmus tests of an economist’s commitment to the idea of voluntary exchange as a means of increasing net productivity and net income. One of them is the doctrine of free trade. The other is the doctrine of minimum-wage legislation as a source of increased […]
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