Category Archives: Classical Economics

Keynesian economics is guaranteed to make an economy’s problems worse

This is Judy Sloan stating as clear as you like: Time to get the budget in surplus and pay off debt. What it is really about is how disastrous Keynesian economics is and always has been. I am a month … Continue reading

Posted in Classical Economics, Economics and economy | 7 Comments

A classic case of economic ignorance

I am in the midst of finishing off a book on classical economic theory from which, and only from which, you can discover just how fatal to economic health modern economic theory is. The Australian economy is not far from … Continue reading

Posted in Classical Economics | 19 Comments

The power of classical economic thought

Here is a story picked up just today which had a bit in it I found quite striking since it presents a real-world economic event straight out of classical economic theory. It’s from an article titled, New recession warning: The … Continue reading

Posted in Classical Economics | 34 Comments

A strange duly neglected crank

The ‘Strange, Unduly Neglected Prophet’ was the description given by Keynes to Silvio Gesell, the author of the notion of “stamped money” which is discussed at the link. There are cranks all over economics, but there have always been more … Continue reading

Posted in Classical Economics, Economics and economy | 6 Comments

John Stuart Mill and the Quantity Theory of Money

Mostly for aficionados of the finer points of economics and its history. From John Stuart Mill’s Principles: If we assume the quantity of goods on sale, and the number of times those goods are resold, to be fixed quantities, the … Continue reading

Posted in Classical Economics | 50 Comments

Leaving it to the market plus the rule of law

A quite interesting article that adds to our understanding of why China is in such a hurry to shut down Hong Kong: Why People in Hong Kong Have Incomes 5x Higher Than People in China’s Richest Province. It’s not long, … Continue reading

Posted in Classical Economics, Economics and economy | 29 Comments

Idlers and good-for-nothings

I’m in the midst of a book on the coming of Keynesian economics into the world and the disappearance of classical theory. I have just now finished a section discussing the first Keynesian textbook ever written, Lorie Tarshis’s The Elements … Continue reading

Posted in Classical Economics, Economics and economy | 29 Comments

Economic mis-management continues

As it happens I’m sitting at the airport at the Qantas terminal waiting on my flight when there is an article atop the paper about “Qantas boss warns climate hysteria threatens air travel”. Seems he’s not always as politically correct … Continue reading

Posted in Classical Economics, Economics and economy | 32 Comments

Told ya so

Here’s the front page story in The Oz today: Aussies no better off since GFC: household incomes stagnant for past decade. From which: “Over the eight-year period from 2009 to 2017, average household income grew by only $3156, or 3.5 … Continue reading

Posted in Classical Economics, Economics and economy | 19 Comments

Taking from the poor to give to the rich

Now at LAX, rated as the world’s worst international airport, but it’s much worse than that. Anyway, what is found below is from my major presentation at FreedomFest which was on Keynesian economics, using the same title as this post. … Continue reading

Posted in Classical Economics, Economics and economy | 9 Comments