David Brooks, in this provocative critique of Republican Libertarianism, uses the insights of Hayek without mentioning him...
If John Maynard Keynes and F.A. Hayek got into a fight, who’d win? . . .
As part of his continuing series Making Sense of financial news, Paul Solman has a unique look at the legacy of economist John Maynard Keynes, who first introduced the concept of government intervention in the economy, and his countertenor Friedrich Hayek. . . .
Hoover fellow Russell Roberts is using rap music to make the dismal science far less dismal. By Charles Lindsey.
Brad DeLong mocks Steve Horwitz here for suggesting that the stimulus didn’t create jobs. . . .
I’m surprised it passed. . . .
David Leonhardt writes in the New York Times: Just look at the outside evaluations of the stimulus. . . .
There’s a debate going on in the punditsphere about whether America is ungovernable. . . .
A very illuminating story on “jobs saved.” . . .
One of the arguments against decentralized decision-making is that it's too selfish...
The taxpayers ended up paying the price, not the risk-takers. . . .
I want to get rid of government rescues. . . .
Here’s an amazing story from CNN because it’s so ordinary. . . .
Methinks1776, a valued commenter here at the Cafe points out the 2/3 of the American people opposed the health care legislation. . . .
Krugman and DeLong have been attacking Mankiw and Meltzer for mocking the “jobs saved” metric of the Obama Administration. . . .
This New York Times story suggests that Fannie and Freddie are going to stay in the hands of the government, partly because government likes have the tool...
If creditors know they’ll be bailed out, aggressive investors borrow from them, leveraging their returns and paying themselves a lot of money along the way, justified by the short-term profits. . . .
It has nothing to do with the bloated budget, the payoffs to political friends like the unions in bailing out Detroit and exempting them from health care taxes, the rising debt, the coddling of Wall Street, the stimulus package that didn’t stimulate, the grandiosity of redesigning the health care system and the energy sector. . . .
Obama plans to have tax cuts in his stimulus package: Aiming to foster bipartisan support for his record-setting economic stimulus, President-elect Obama plans to propose huge tax cuts for businesses and middle-class workers that will total about 40 percent of the package, or up to $310 billion, congressional officials said...
These are exciting though scary revolutionary times, akin to the constant acrimony in the fourth-century BC polis, mid-nineteenth century revolutionary Europe, or — perhaps in a geriatric replay — the 1960s. . . .