Keynesian economics

The Birthrate Obsession: A Sign That Keynes Still Pollutes Economics

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Why were there no billionaires in the 19th century? Tick tock, tick tock… No doubt those with an Austrian or Monetarist School bent would say that the scarcity of billionaires was rooted in a lack of a central bank. They oddly, and insultingly, associate great wealth with “money creation,” so-called “money supply,” and currency […]

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Sorry Keynesians, Housing Has Nothing To Do With Economic Growth

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Writing at the New York Times, economist Rebecca Patterson confidently asserted that “Housing is the foundation of the economy. Homes represent the single largest asset for most Americans. They are a vital source of wealth creation that supports consumer spending, which in turn represents about two-thirds of U.S. economic output.” No, that’s just not true.  To understand

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