Rothbard On Keynes–Videos

Posted on October 25, 2009. Filed under: Blogroll, Communications, Economics, Employment, Fiscal Policy, government spending, history, Investments, Law, liberty, Life, Links, Monetary Policy, People, Philosophy, Politics, Quotations, Rants, Raves, Regulations, Resources, Video, Wisdom | Tags: , , , , , , , , , , |


John Maynard Keynes

John Maynard Keynes

John Maynard Keynes: Hero or Villain? Part 1


John Maynard Keynes: Hero or Villain? Part 2


John Maynard Keynes: Hero or Villain? Part 3


John Maynard Keynes: Hero or Villain? Part 4

John Maynard Keynes and Hayek: Bruce Caldwell

Hayek on Milton Friedman and Monetary Policy

Keynesian Economics Is Wrong: Bigger Gov’t Is Not Stimulus


Background Articles and Videos


John Maynard Keynes

“…John Maynard Keynes, 1st Baron Keynes, CB (pronounced /ˈkeɪnz/) (5 June 1883 – 21 April 1946) was a British economist whose ideas have been a central influence on modern macroeconomics, both in theory and practice. He advocated interventionist government policy, by which governments would use fiscal and monetary measures to mitigate the adverse effects of business cycles, economic recessions, and depressions. His ideas are the basis for the school of thought known as Keynesian economics, and its various offshoots.

In the 1930s, Keynes spearheaded a revolution in economic thinking, overturning the older ideas of neoclassical economics that held that free markets would automatically provide full employment as long as workers were flexible in their wage demands. Following the outbreak of World War II Keynes’s ideas concerning economic policy were adopted by leading Western economies. During the 1950s and 1960s, the success of Keynesian economics was so resounding that almost all capitalist governments adopted its policy recommendations.

Keynes’s influence waned in the 1970s, partly as a result of problems that began to afflict the Anglo-American economies from the start of the decade, and partly due to critiques from Milton Friedman and other economists who were pessimistic about the ability of governments to regulate the business cycle with fiscal policy.[1] However, the advent of the global financial crisis in 2007 has caused a resurgence in Keynesian thought. Keynesian economics has provided the theoretical underpinning for the plans of President Barack Obama, Prime Minister Gordon Brown and other global leaders to ease the recession.[2]

In 1999, Time Magazine named Keynes one of the 100 Most Important People of the 20th Century and reported that, “His radical idea that governments should spend money they don’t have may have saved capitalism”.[3] Keynes is widely considered the father of modern macroeconomics, and by commentators such as John Sloman, the most influential economist of the 20th century.[4][5][6] In addition to being an economist, Keynes was also a civil servant, a patron of the arts, a director of the Bank of England, an advisor to several charitable trusts, a writer, a private investor, an art collector, and a farmer. …”


Murry Rothbard

“…Murray Newton Rothbard (March 2, 1926 – January 7, 1995) was an American intellectual, individualist anarchist,[1] author, and economist of the Austrian School who helped define modern libertarianism and popularized a form of free-market anarchism he termed “anarcho-capitalism”.[2][3] Building on the Austrian School’s concept of spontaneous order in markets, support for a free market in money production and condemnation of central planning,[4] Rothbard sought to minimize coercive government control of the economy. He considered the monopoly force of government the greatest danger to liberty and the long-term wellbeing of the populace, labeling the State as nothing but a “gang of thieves writ large” – the locus of the most immoral, grasping and unscrupulous individuals in any society.[5][6][7][8]

Rothbard concluded that virtually all services provided by monopoly governments could be provided more efficiently by the private sector (in particular, money production and coinage).[9][10][11] He viewed many regulations and laws ostensibly promulgated for the “public interest” as self-interested power grabs by scheming government bureaucrats engaging in dangerously unfettered self-aggrandizement, as they were not subject to market disciplines which would quickly eliminate such parasitic inefficiencies if they were to occur in the competitive private sector.[12][13][14]

He argued that taxation represents coercive theft on a grand scale, and “a compulsory monopoly of force” prohibiting the more efficient voluntary procurement of defense and judicial services from competing suppliers.[15][6] He also considered central banking and fractional reserve banking under a monopoly fiat money system a form of state-sponsored, legalized financial fraud, antithetical to libertarian principles and ethics.[16][17][18]

Rothbard opposed military, political, and economic interventionism in the affairs of other nations.[19][20] Rothbard wrote over twenty books before his death in 1995. …”

Keynes, the Man

By Murray Rothbard

“…Keynes was scarcely a “revolutionary” in any real sense. He possessed the tactical wit to dress up ancient statist and inflationist fallacies with modern, pseudoscientific jargon, making them appear to be the latest findings of economic science. Keynes was thereby able to ride the tidal wave of statism and socialism, of managed and planned economies. Keynes eliminated economic theory’s ancient role as spoilsport for inflationist and statist schemes, leading a new generation of economists on to academic power and to political pelf and privilege. …”


Murray N. Rothbard: Libertarianism

The Founding of the Federal Reserve

How Abolishing the Fed Would Change Everything

Federal Reserve: Handmaiden of Tyranny

John Maynard Keynes of Bloomsbury: Craufurd Goodwin

John Maynard Keynes as Policy Advisor: E. Roy Weintraub

John Maynard Keynes and Economics: Kevin Hoover

John Maynard Keynes and Hayek: Bruce Caldwell

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