A number of economists have recently been debating what is wrong with macroeconomic modelling today. The University of Chicago's John Cochrane, Oxford’s Simon Wren-Lewis, Berkeley’s Brad DeLong, and ...

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 ...

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 ...

Keynesian economics is a macroeconomic theory that advocates for active government intervention to manage economic cycles, particularly during recessions and depressions. Developed by British ...