Monthly Archives: January 2009

By Peter Clarke  

For more than 20 years after his death in 1946, the name of John Maynard Keynes achieved a sort of posthumous veneration that mythologised him as not just a great economist but an infallible prophet. This happened on both sides of the Atlantic and across party lines. It was US president Richard Nixon who declared: “We are all Keynesians now.” Well, times change. Myths become vulnerable to debunking – and, if you wait long enough, to rebunking too. The Keynesian era came to grief in the 1970s. For about 30 years Keynes’s reputation languished. Then, in about 30 days, it has apparently been restored. Read more

Welcome to 2009. This is a year in which the fate of the world economy will be determined, maybe for generations. Some entertain hopes that we can restore the globally unbalanced economic growth of the middle years of this decade. They are wrong. Read more

By Viral Acharya, David Backus, and Raghu Sundaram  

There is a tendency in a crisis to throw out the rulebook: we are in a unique situation, some will say, and that calls for unique measures. In fact, financial crises are recurring events whose history has taught us some clear lessons. Read more

By Paul Seabright

If the news that 2009 will see worldwide celebrations of Charles Darwin’s 200th birthday has passed you by, you may have spent the last year living on Mars, or being home schooled in Kansas. Or you may just have been hanging out with economists. Read more