Question: When teaching macroeconomics, how do you achieve a balance of Keynesian and classical ideas? Answer: When I started teaching in 1985, I soon realized that the leading texts of the time were ...

The "new economics" of John Maynard Keynes and his legions of academic acolytes was sold to the world on the basis of being a scientific advance over the outmoded dogma of classical economics. Keynes ...

Historical studies are enlivened by court intrigues, gossip and warfare. Language studies introduce students to rich literary traditions. The study of science or engineering offers the potential for ...

Great crises have a way of reminding us that acting as though we know perfectly well what the future holds almost always leads to disaster. That’s especially true in economics, which tends to ...

Just how important is money? Few would deny that it plays a key role in the economy.­ During the Great Depression of the 1930s, existing economic theory was unable either to explain the causes of the ...

I spent a couple of days in a TV studio recently, recording a series of short teaching sessions on the basic principles of classical economics and how they apply to investments. Since the idea of God ...

In December 1974, in the midst of the first energy crisis, Friedrich Hayek received the Nobel Prize in Sweden and confessed, “we have little cause for pride: as a profession we have made a mess of ...