Keynesian economists believe that government deficit spending can increase economic activity and help an economy recover from a recession. Classical economists dispute this, focusing their attention ...

A number of economists have recently been debating what is wrong with macroeconomic modelling today. The University of Chicago's John Cochrane, Oxford’s Simon Wren-Lewis, Berkeley’s Brad DeLong, and ...

To the growing list of famous mainstream macroeconomists who have publicly criticized their discipline, add another: In a recent essay, Lawrence Christiano of Northwestern University argues that the ...

Historical studies are enlivened by court intrigues, gossip and warfare. Language studies introduce students to rich literary traditions. The study of science or engineering offers the potential for ...

Keynesian economics is a macroeconomic theory that advocates for active government intervention to manage economic cycles, particularly during recessions and depressions. Developed by British ...

Keynesian economists (of all stripes) want fiscal policy (essentially, government budgets) to increase consumer demand. This thinking has several problems. Keynes argued, however, that money borrowed ...

Just how important is money? Few would deny that it plays a key role in the economy.­ During the Great Depression of the 1930s, existing economic theory was unable either to explain the causes of the ...