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    Economics / bailouts, bank reform, banking, bankruptcy, fiscal policy, Ireland, monetary policy /

    Irish Crisis: The Lesson Learned?

    November 22, 2010

    The events of the weekend were both predictable and drastic. The Irish government has caved into to the obvious: Ireland cannot continue without a vast amount of outside help. There will be the inevitable backlash against the government – it depends on a very thin majority formed from a coalition. That coalition is now sundered […]

    Economics / Arrow, capitalism, Debreu, economic theory, Keynes, Keynesian economics, Minsky, New Classical Economics, Paul Krugman, Schumpeter /

    It’s Love “Schumpi” Day

    November 19, 2010

    When last I wrote here I repeated a quote by Joseph Schumpeter, that Paul Krugman used to lambast the classical opposition to government interference in the economy. True to form, I was immediately set upon by the one man Austrian economist defense force – Stephan – who managed to dig out the original text from […]

    Economics / depression, Paul Krugman, Schumpeter /

    Dark Ages Redux

    November 17, 2010

    OK I get the gold medal. Yesterday I wrote a blog entry entitled: “The Dark Ages Are Back”. And today Krugman has a blog headed “The Dark Ages, Returned in Full”. His, of course, is short and to the point. Mine, of course, rambles on endlessly. Still I won the race with the thought. What […]

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