Post-Keynesian Observations

Understanding the Macroeconomy


with 4 comments

I am a professor of economics at Texas Christian University, where I have taught since 1987.  I started this blog because:

1) so many of my non-economist friends were asking me to make sense of the current financial crisis and I wanted to create a central repository for my explanations so I could just point them to it;

2) explanations done properly require background and this blog will allow me the space and structure to offer some basic theory;

3) most of what I have read about the crisis is either too superficial or based on questionable theories.

In terms of my background, I started graduate school as more of a libertarian type: don’t tell me I can’t buy beer on Sunday and leave the economy alone! I still want my beer on Sunday, but have come to the reluctant conclusion that an extreme free-market economy is dangerously unstable. I’d like to think that’s not the case, but then there’s a lot of stuff I’d like be believe wasn’t true. Can the government solve our problems with a magic wand? Yes, if they had a magic wand, but they don’t. So, managing an economy is a dirty, messy business. But, to leave it to it’s own devices is a sure recipe for disaster.

Written by rommeldak

January 7, 2009 at 1:50 am

4 Responses

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  1. John, Thanks for the note on my Facebook page alerting me to your blog. So, here I am and I look forward to reading the material. I’ve been reading Minsky and find his work accessible and excellent. Steve Keen’s OZ Debt Watch blog site should be linked to by your blog site. On my Facebook page today I linked to Soros’ Real World Economics essay. Keep posting.

    Best wishes,

    Chuck Willer

    Chuck Willer

    February 9, 2009 at 4:18 am

    • Glad to do it and happy to have you here!



      February 9, 2009 at 5:15 am

  2. Just came across this today.

    Excellent blog. I’ve been arguing along similiar lines over in the UK…


    June 25, 2009 at 7:02 pm

  3. Thanks! I’m just back from a long trip, but I look forward to reading through yours. I hope someone is listening to us!!!


    June 26, 2009 at 9:47 am

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