With Chinese New Year being just around the corner, many are expected to leave Kuala Lumpur behind to visit families and relatives who live outside of the city for a week or so. Many of those living or working in the city have left the city. With the Chinese forming more than 40% of the [...]
This economic crisis is a challenge to advocates of small government, especially for those who establish their argument based on finance. Even those who ground their position on something more profound like libertarians are being challenged simply out of the practicality of the situation. The situation is that the cost of borrowing for several governments [...]
Although normatively one should not judge a book by its cover, positively, first impression matters. The first few lessons in economics are likely to affect a person’s perspective on the roles of government. Those who are familiar with economics and who ended up skeptical with the concept of activist government have to suffer those first [...]
Hahaha via Greg Mankiw. This takes the cake. Agitated woman: Why, why do you have the sign? Man: Arr… do you disagree with it? Agitated woman: …that he’s Keynesian, that he’s like not American. Is that what you’re saying? Man: Well, we’re… we’re asking a question.
Approximately 40 years after the debate began, the battle between supply-siders and the Keynesians (and to some extent, monetarists) continues. It first came to surface with Bruce Barlett’s article at the NYT: Today, hardly any economist believes what the Keynesians believed in the 1970s and most accept the basic ideas of supply-side economics — that [...]