In public school, I was trained to think fiat currency, creating money out of slips of paper, was an excellent thing. I was trained to think that “a little” inflation was actually good for the economy. I was trained to think great quantities of money printing was a great thing, since everyone got a share […] … learn more→

The current economic crisis has renewed interest in alternative economic ideas. Most conspicuously, Keynesianism has returned from the margins. Unfortunately, particularly in Europe, policymakers quickly abandoned deficit spending programs for austerity and the economic orthodoxy rejected in the Great Depression. Marxism has also enjoyed a modest revival. It remains a more profoundly unacceptable discourse. Amongst […] … learn more→