Economics | Blind Man's Fancy

Smith, Keynes, Marx & Jesus Walk Into a Bar

September 7, 2015September 8, 2015 B.J. MaxwellBiblical Meditations, Christian Life, Current Events, James

“The point is ladies and gentlemen that greed, for lack of a better word, is good” (Gordon Gekko). Capitalism, liberalism and socialism are competing economic/political/social philosophies but they share the same inherent bane. Wherever one lands on the spectrum neither philosophy can assuage the very thing that cripples economies: greed. Adam Smith (capitalism), John Maynard Keynes (liberalism) and Karl Marx (socialism) might be mortal political enemies but they all attempted to […]

Trickle-Down Recession

February 5, 2009 B.J. MaxwellCurrent Events

Nobody should care what I think about economics (or anything for that matter) but I wondered recently about the following. Two competing economic philosophies are at loggerheads in our day. One is the Keynesian model named after John Maynerd Keynes (1883-1946). Keynes asserted that the burden for economic stimulus lay with the government. The state must regulate interest rates and wages as well as create employment through infrastructure projects. To […]