In Chapter 3 of the Economic Consequences of the Peace Keynes sets forth his analysis of why President Woodrow Wilson failed to gain acceptance of his Fourteen Points. Put simply, perhaps even a bit simplistically, Keynes' explanation is that Wilson was simply not prepared, given his overall temperament, to confront the more polished, persistent, and … Continue reading Chapter 3 of the Economic Consequences: Wilson vs. Clemenceau.
I want to begin my analysis of Chapter 2 with a couple of prefatory comments. We can read a work such as Economic Consequences of the Peace as a work unto itself. Alternatively, we can permit ourselves the luxury of putting the work into the larger context of the body of the author's work. Both have … Continue reading Economic Consequences: Chapter 2
A colleague of mine and I in the English and Humanities Department at my University (Shawnee State University) will be working on a project on John Maynard Keynes' "The Economic Consequences of the Peace." We are starting with an exchange during an event sponsored annually at my University called "Faculty Festival of Achievement". I will … Continue reading Announcing: The Economic Consequences of the Peace. An Exchange.
In my previous posts on secular stagnation I noted the common threads between the New Classical effort to build macroeconomics on the foundations of neo-Walrasian general equilibrium theory and the ways in which mainstream Keynesians have found themselves in a decades long cul de sac of ad hoc reasoning. While I agree with the arguments … Continue reading Does economics need axiomatic foundaions?
In a previous post I discussed the recent turn of some notable mainstream economists towards reconsideration of Alvin Hansen’s thesis of secular stagnation. It would seem that there is a more general trend at work here, which embodies at least two themes: A modest revival of some parts of the “Old Keynesian” class of models, … Continue reading Slouching Towards Secular Stagnation: Part 2
Since this is my first post a few prefatory comments are in order. This blog is not necessarily directed (or at least not uniquely directed) at people with a technical understanding of economics. The second prefatory comment is a disclaimer: the last few years of my life have been a blur of either teaching (as … Continue reading Slouching towards secular stagnation.