Keynesianism

Shovel-ready or not

Though shovel-ready, current government projects are just as useful as building pyramids, burying banknotes and creating earthquakes. It is not what Keynes had in mind, but it is the best his disciples can come up with these days. [...]

Still no life on Mars

In Germany, but not only there, the economic ideas of the 1970s are celebrating a revival. But why would anyone want to retry the old recipes for more regulation and fiscal stimulus when they so spectacularly failed back then? It may well turn out that watching Life on Mars is a better way to indulge in 1970s nostalgia. [...]