Balance Sheet Recession

There are many questions about this current recession. Why did the economy decline so much? Why are most economies stagnating? Why has low interest rates and quantitative easing not lead to recovery? I recently read Richard Koo’s The Holy Grail Of Macroeconomics which answers these questions. I found it deeply insightful, not only for its explanation of the current recession and the Great Depression but also because it was written before the crisis even happened. Koo accurately describes out current mess, what’s wrong and what we have to do to fix it. Continue reading “Balance Sheet Recession”

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John Maynard Keynes Quotes

Keynes is one of the most famous economists of all time and the one whose ideas will get us out of this recession. So here is a collection of some of his best quotes.

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The boom, not the slump, is the right time for austerity at the Treasury.

Look after unemployment and the Budget will look after itself

In the long run we are all dead. Continue reading “John Maynard Keynes Quotes”