Economists may not agree on much, but we all agree that economic output is a function of capital and labor. Ask a Keynesian, a Marxist, an Austrian, a monetarist, or any economist, and they’ll all agree that living standards are determined by the quality and quantity of these two factors of production. So it should […]

If it wasn’t for the fact that so many people are suffering and being seduced into empty lives of government dependency (symbolized by Julia, the world’s most disappointing daughter), I might feel sorry for President Obama. He promised unemployment would never climb above 8 percent if Congress squandered $800 billion on a Keynesian stimulus scheme. […]

Can we finally all agree that Keynesian economics is a flop? The politicians in Washington flushed about $800 billion down the toilet and we got nothing in exchange except for anemic growth and lots of people out of work. Indeed, we’re getting to the point where the monthly employment reports from the Labor Department must […]

Remember back in 2009, when President Obama and his team told us that we needed to squander $800 billion on a so-called stimulus package. The crowd in Washington was quite confident that Keynesian spending was going to save the day, even though similar efforts had failed for Hoover and Roosevelt in the 1930s, for Japan […]

The Labor Department just released its monthly employment report and the White House is probably not happy. There are several key bits of data in the report, such as the unemployment rate, net job creation, and employment-population ratio. At best, the results are mediocre. The unemployment rate generally gets the most attention, and that was […]