The jobs data is worse than the latest headlines suggest, and workers are staring at falling real wages, declining savings, and mounting debt. We can thank the Fed.
After following hyper-Keynesian policies for more than two decades, the Fed is about to create the conditions that Keynesians claimed were impossible: an inflationary recession.
After following hyper-Keynesian policies for more than two decades, the Fed is about to create the conditions that Keynesians claimed were impossible: an inflationary recession.
The standard line is that the Federal Reserve System has two mandates, keep unemployment low and create price stability. Mark Thornton notes that the real agenda is found elsewhere.
The standard line is that the Federal Reserve System has two mandates, keep unemployment low and create price stability. Mark Thornton notes that the real agenda is found elsewhere.
Adherents of the famous Phillips curve believe there is a permanent tradeoff between inflation and unemployment. This is mistaken.
Adherents of the famous Phillips curve believe there is a permanent tradeoff between inflation and unemployment. This is mistaken.
The standard Keynesian play is to increase government spending in order to reduce unemployment and increase economic growth. Here's why it consistently fails.
The specter of stagflation is with us again despite Keynesians' claims that a new bout of inflation will lower unemployment. What causes it?
Everything from huge Keynesian "stimulus" policies to the war in Ukraine is dovetailing in a bout of stagflation: the simultaneous growth of inflation and unemployment.
