An awesome vintage piece of propaganda from FDR’s presidency.

Deck the Halls with Macro Follies

Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly and applying the wrong remedies.
Groucho Marx
My favorite Keynesianism meme medley


War and the Fed

A great 18 minute explanation by Lew Rockwell of the convergence involving imperialism, central banking, and Keynesianism.

I find myself more and more relying for a solution to our problems on the invisible hand which I tried to eject from economic thinking twenty years ago.

John Maynard Keynes, ten days before he died 

So if Nozick’s doubts later in life spawned such fervor this summer (see here, here, here, and here), then what can be understood of Keynes’ reconsiderations? Particularly since Keynes was infinitely more influential to his eponymous statist economics than Nozick ever was to libertarianism (and, further, since Nozick near the end of his own life found his way back to libertarianism, though not quite to his previous fully-anti-state position).

(via laliberty)

The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists.
Ernest Hemingway

No critic of free-market economics can ever again accuse us of being irrational and immoral when it is Paul Krugman who says destruction creates wealth, and war is an acceptable second-best path to economic growth. Don’t let Krugman’s Newspeak fool you: War and destruction are exactly what they appear to be.

Any theory — including any of Paul Krugman’s Keynesian models — that neglects the distortion of the capital structure during boom periods cannot possibly hope to accurately prescribe policy solutions after a crash.

The absurdity of Keynesian economics in one minute.

Here are some outlandish ways the GDP can be boosted.