YAL in Action

Check out YAL activities on campus and updates from around the liberty movement.

Tag: Keynesianism
  • We’re Screwed

    Neeraj Chaudhary argues that we will soon be in the midst of a Great Depression much worse than the first. He opens with a frightening but nonetheless true revelation: With the mainstream media focusing on the country’s leveling unemployment rate, improving retail sales, and nascent housing recovery, one might think that the US government has …

  • Pat Robertson and the Broken Window Fallacy

    …or maybe “the Haitian earthquake fallacy.” From David Kramer at lewrockwell.com: Maybe if we’re lucky we could get a cataclysmic earthquake of our very own!  For an economic refutation of this Keynesian fallacy, read, of course, Henry Hazlitt.  The moral refutation should be self-evident.

  • Government Spending = Heroin

    Today, it was announced that new home sales dropped “11.3% to a seasonally adjusted annual rate of 355,000.” Most analysts have found the culprit for this sudden, irrational behavior:  the first time home buyer tax credit. This tax credit gave up to $8,000 to first time buyers. As soon as this was made public, thousands of people …

  • Liquidity Trap or Fed Crap?

    Keynes proposed the idea of a “liquidity trap” in which he hypothesized that at a certain point (when interest rates have fallen as far as they can), people will hoard their money because a rise in interest rates would lead to losses on bond holdings. As a “solution,” some central banks, most notably Sweden, have …

  • A Rebirth of Keynesianism?!

    As I was flipping through the radio last night, that’s what I heard on NPR: that all of a sudden, Keynesianism was making a comeback. I know I shouldn’t expect too much from state-sponsored radio, but really, where have they been the last century? The philosophy of deficit spending, government working to stimulate industry, the …