Epstein Secrets

ause unemployment, especially long-term unemployment, is still unacceptably high. 'The boom, not the slump, is the time for austerity," John Maynard Keynes declared many years ago. Kurgman: He was right — all you have to do is look at Europe to see the disastrous effects of austerity on weak economies.

n already girded for combat. How depressing to look back on those days and see not just the obvious -- Douglas Feith, Donald Rumsfeld, Dick Cheney, Condoleezza Rice; those who promised America would be "greeted as liberators" (Cheney), and who threatened nuclear "mushroom clouds" (Rice) if action didn't come im

, Dick Cheney, Condoleezza Rice; those who promised America would be "greeted as liberators" (Cheney), and who threatened nuclear "mushroom clouds" (Rice) if action didn't come imminently. But there also were still-popular and prominent figures who got it wrong. We now know that the strongest war adv

duced from retained earnings within companies. For many economists, somewhat oddly, this will be seen as a serious flaw. Since at least the time of Keynes, investment and saving have been at the heart of macroeconomic modelling, and this is true of neo-classical and other heterodox modelling, not just

can take two to three years. Unlike say wheat or rice; coffee, tea and cocoa grow on trees or bushes, a

ooking back on his formative years, before Europe was ground up in the First World War, the powerfully brilliant and sensitive economist John Maynard Keynes bitterly recalled the iron certainty of his set of friends and their confident, diffident arrogance: “We were not aware that civilization was a thin

y defended its farmers or its trade or its annual rice harvest, the more the rebels from the steppe had

tire world was pulled into the fire. “In the autumn of 1919, in which I write, we are at the dead season of our fortunes,” the economist John Maynard Keynes wrote after the Paris Peace Conference settled The Great War, dimly aware that an even deader season lay somewhere in the future in the form of anoth

about a packet of carefully chosen South Carolina rice that has gone missing in the oceanic post, delayi