Category Archives: Classical Economics

Mostly empty (MMT)

There are a lot of cranks in economics, and it only gets worse all the time. I have been sent a copy of this editorial in The Oz yesterday which is a reminder of just how off the rails economists … Continue reading

Posted in Classical Economics, Economics and economy | 18 Comments

Have I ever mentioned before that the level of unemployment is unrelated to the level of aggregate demand?

In the news today. RECOVERY SUMMER! Record jobs gain of 4.8 million in June smashes expectations; unemployment rate falls to 11.1%. Democrats, media hardest hit. 122Posted at 8:59 am by Glenn Reynolds  ` By the way, my latest book has just been released: … Continue reading

Posted in Classical Economics | 5 Comments

Thomas Sowell turns ninety

Happy 90th birthday (June 30) to Thomas Sowell, one of the greatest living economists, which begins: One of my two all-time most favorite economists — Thomas Sowell — turns 90 tomorrow, he was born on June 30, 1930. Here is … Continue reading

Posted in Classical Economics, Economics and economy | 18 Comments

Light relief + buy, sell and swap

A short film clip to relieve the stress of interesting times and a busy day. I was about to post something more serious but that just came in from Number 1 son. The serious matter – I want to get … Continue reading

Posted in Classical Economics, Free Enterprise, Rafe | 10 Comments

Light relief for nerds

austrian_economics_in_contemporary_business_applications Turning to more serious matters.  Green Hydrogen is coming! Italy’s Enel expects to be producing green hydrogen within a year, with likely sites for its first wind and solar farms with electrolysers seen in the US, Chile and Spain, … Continue reading

Posted in Classical Economics, Rafe | 7 Comments

Would the real anti-Keynesian economist please stand up

Here there are two anti-Keynesians in Australia and we both disagree with each other. The headline in the paper was kind of all right – It’s Keynes’s fault – again we go into debt to ‘stimulate’ the economy – but … Continue reading

Posted in Classical Economics, Economics and economy | 11 Comments

Only supply constitutes demand

Other than straight out socialist plunder, no better way to comprehensively ruin an economy is to think public spending and monetary expansion can raise living standards and promote employment growth. Here’s an article by Richard Salsman published at The Hill … Continue reading

Posted in Classical Economics, Economics and economy | 15 Comments

John Stuart Mill and the theory of value

I posted the note below onto the Societies for the History of Economics website in regard to François Quesnay, an eighteenth century French economist, but it’s really about John Stuart Mill. No one has responded among the 1200 who are … Continue reading

Posted in Classical Economics | 5 Comments

Making the economy grow again

Jeffrey Tucker is the editor in chief at the American Institute for Economic Research where the article discussed below has been posted. A bit, actually quite a bit, more charitable about the New York Times than I would ever be, … Continue reading

Posted in Classical Economics, Classical Liberalism | 14 Comments

The Empire Strikes Back

Academics are not a complete waste of space. The medical crisis does not demonstrate that free trade, open capital accounts and liberal immigration policies are a mistake. People taking to social media to suggest that closed economies could have better … Continue reading

Posted in Classical Economics, Rafe | 22 Comments