The Man Who Saw The Crash Coming

The financial crash in 2008 came as a surprise to most economists. The believed markets were sufficient and will produce prosperity for all if left to their own devices. However one little known economist had predicted it and developed a theory explaining it. He devised a theory explaining how lenders become lax with their standards, over optimistic and over extend themselves leading to a crash. Even more impressively he did this back in the 70s and 80s so can’t be accused of jumping on the bandwagon. His name is Hyman Minsky (1919-1996) and the theory is called “The Financial Instability Hypothesis”. Continue reading “The Man Who Saw The Crash Coming”

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”

Why Austerity Isn’t Working

Einstein once defined insanity as doing the same thing over and over again and expecting different results. For four years the government has being cutting spending and raising taxes. For four years we have been told it is the only way to reduce the deficit, restore growth and create jobs. Yet four years later we still have a large budget deficit, high unemployment and the economy is still contracting.  Continue reading “Why Austerity Isn’t Working”

How To End The Recession

We are in the midst of the worst recession since the Great Depression. It is therefore logical that we should see how that recession was ended for solutions to our current problems. It was solved by Continue reading “How To End The Recession”