Peter Boettke has a short post on political parties, where he quotes Luigi Zingales from the start of the Great Recession:
If Keynesian principles and education are the cause of the current depression, it is hard to imagine they can be the solution. Keynesianism has conquered the hearts and minds of politicians and ordinary people alike because it provides a theoretical justification for irresponsible behaviour.
Economist Debates: Keynesian Principles: >This house believes that we are all Keynesians now. Opening for Debate with Luigi Zingales Reply to Luigi Zingales Read Post
It is well known that excessive leverage was one of the primary causes of the Great Depression. Specifically, many people bought stocks on margin, and when stock prices dropped, they were wiped out and their lenders got hit hard.Ban... Read Post
The recent recession has been the most brutal since the Great Depression and has caused enormous hardship for many American families, as well as immense financial problems for governments around the world. As a result, it’s hard to ... Read Post