…that the contract was not negotiated but instead compelled by law. Voila! The antidisestablishmentarianism theory is disestablished. The tax credits/subsidies clause in the ACA applies even to you, Red State…

…clear that the consensus is an ideology not a theory The irony is that during the Industrial Revolution, today’s rich countries — Britain, France and the United States — pursued…

…demand in relation to future conditions of supply. If, therefore, an act of saving does nothing to improve prospective yield, it does nothing to stimulate investment.” (Keynes, General Theory, Chapter…

…although the Court did not, in fact, note it.) An alternative theory about the unidentified source of the fundamental constitutional principle was that it was interpreting the Fourteenth Amendment’s equal…

…In basic theory many economist draw supply and demand curve that show if demand doubles the price will increase. But most are aware that this is actually a special case…

…floor by effectively denying open access for workingmen. Because while in theory there would be no barrier to buying beer by the glass, or the beer bucket, or gin by…

…actually impossible. Because of economic theory that shows indubitably: a) Free Trade, b) PROFIT! c) Invisible Hand d) does something e) somehow, f) EVERYONE WINS!. Okay maybe not LAST time,…

Modern Monetary Theory has been revolutionary in economics, and its influence is — beneficially — ever-more pervasive. It has opened the eyes of a generation to a clear-eyed, accounting-based methodology…

…demand still goes unfulfilled. To explain effective demand, I refer to a book by Connell Fanning and David O Mahony, The General Theory of Profit Equilibrium: Keynes and the Entrepreneur…

This is a post about macroeconomic theory. It is technical and I honestly don’t know how much is already in the literature. The aim is to address an important policy…