Harvard historian Niall Ferguson has a history of saying inflammatory nonsense to get attention. But recently while trying to sex up an attack on his long dead intellectual nemesis, John Maynard Keynes, Ferguson went way too far in his endless quest to widen the eyes of his audience.
|By: DSWright Wednesday May 8, 2013 9:25 am|
|By: masaccio Sunday February 10, 2013 11:00 am|
The Euthanasia of the Rentier should be the economic slogan of progressives.
|By: David Dayen Thursday September 20, 2012 9:45 am|
Republicans have gone all-in on their “redistributionist” attack on President Obama, which will work about as well as the last time they tried it, in 2008 with Joe the Plumber. If anything, it will reinforce the desire to increase taxes on the wealthiest Americans, a popular policy.
|By: David Dayen Friday June 22, 2012 10:33 am|
Federal Reserve forecasts for GDP growth in 2012 have steadily fallen. In 2010, the Fed forecast an impressive 4% growth for 2012. By June of this year, they have lowered that to a little over 2%. And yet the Fed is also a policymaker, rather than just an independent observer. When these forecasts start to drop, they should be spurred into action. But that hasn’t occurred.
|By: David Dayen Monday May 21, 2012 11:00 am|
At attention gets more focused on the “fiscal cliff” coming at the end of the year, of most concern to progressives is the continuing game of footsie Nancy Pelosi appears to be playing with Bowles-Simpson, the deficit reduction plan that makes cuts to Medicare, Medicaid and Social Security benefits. For tactical reasons, she wants to look more “reasonable” than Republicans on the issue of deficits. But in reality, this striving for reasonableness will only put those entitlement programs at risk while no one makes the case for increasing growth and jobs.
|By: David Dayen Saturday December 31, 2011 7:52 am|
We know how this movie will end. “The boom, not the slump, is the right time for austerity at the Treasury,” John Maynard Keynes said in 1937, and the words are no less true today. The last few years in economic policy seem to be in one respect a consistent effort to deny Keynes, which happens to also deny reality. And the failures of austerity which can be seen around the globe, particularly in Europe, only serve to reinvigorate Keynes’ central theories. Cutting government when government can provide the only source of demand only hurts the economy further, and it often increases the deficit, defeating the initial purpose.
|By: masaccio Sunday July 31, 2011 5:00 pm|
Keynes’s ideas aren’t dead. Congress is full of ignorant people who can’t understand those ideas or their implications for our situation today, but the ideas aren’t dead.
|By: David Dayen Wednesday July 27, 2011 1:00 pm|
To those who want to say that the President is making the best of a bad situation, THIS is the problem. It changes the entire dynamic of the realm of possible economic solutions for the next decade or more. And when the economy suffers from austerity, since a Democrat basically called for it, that’s who will be blamed.
|By: Glenn W. Smith Sunday July 10, 2011 9:30 am|
A decade ago the wise American public told us something important: they believe corruption is so endemic to our political system that unethical acts are no longer illegal.
As long as our leaders talk of virtue and morality, their actual acts are shrugged off as sad by-products of humankind’s fall into sin.