Question: When teaching macroeconomics, how do you achieve a balance of Keynesian and classical ideas? Answer: When I started teaching in 1985, I soon realized that the leading texts of the time were ...

Learn about Say's Law of Markets, how production drives economic demand, implications for growth and policy, and its ...

The "new economics" of John Maynard Keynes and his legions of academic acolytes was sold to the world on the basis of being a scientific advance over the outmoded dogma of classical economics. Keynes ...

Macroeconomics studies an overall economy or market system, its behaviors, the factors that drive it, and how to improve its performance.

Last year I said that I felt about a strong dollar like St. Augustine felt about chastity. "Lord, make me chaste, but not just yet." My version was, "Lord, give us a strong dollar, but not just yet." ...

Keynesian economists (of all stripes) want fiscal policy (essentially, government budgets) to increase consumer demand. This thinking has several problems. Keynes argued, however, that money borrowed ...

Historical studies are enlivened by court intrigues, gossip and warfare. Language studies introduce students to rich literary traditions. The study of science or engineering offers the potential for ...

Editor’s Note: This is Part 1 of a two-part series on how mistaken assumptions by top U.S. policymakers have worsened the financial crisis. It has been three years since the worst financial collapse ...

Still from a John Papola-produced rap on saving vs. spending, a la Friedrich Hayek and John Maynard Keynes. Thursday’s post is round three in the debate between Papola and his opponent, economic ...

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 ...