An Incompetent Federal Reserve Board Caused the Great Depression and the New Deal that Gave Congress’ Power to New Executive Branch Regulatory Agencies
By: pcr3|09 November, 2022|Categories: Articles & Columns . Scholarship Summaries
An Incompetent Federal Reserve Board Caused the Great Depression and the New Deal that Gave Congress’ Power to New Executive Branch Regulatory Agencies An Incompetent Federal Reserve Board Caused the Great Depression and the New Deal that Gave Congress’ Power to New Executive Branch Regulatory Agencies. The 1930s saw the Great Depression used to vitiate legislative power and put it…
Read more »Supply-Side Economics Correctly Explained
By: pcr3|15 February, 2021|Categories: Scholarship Summaries
Just as Wikipedia has difficulty reporting biographies accurately, it has difficulty reporting accurately on supply-side economics and other subject matter. So do economics professors in the class room. Financial journalists also have no idea what they call “Reaganomics” is. If you click the link below, you can read my brief, clear explanation of supply-side economics published in the peer-reviewed Independent…
Read more »Does the US Still Have an Economy?
By: pcr3|10 February, 2021|Categories: Articles & Columns . Scholarship Summaries
Does the US Still Have an Economy? Paul Craig Roberts People want to know where the economy is headed. What they should be asking is does the US still have an economy? My answer is no, it doesn’t. I will explain why. For a quarter century I have pointed out the destructive effect of moving American investment and jobs to…
Read more »SUPPLY-SIDE ECONOMICS, THEORY AND RESULTS
By: Justin Bowers|17 July, 2017|Categories: Articles & Columns . Scholarship Summaries
Supply-Side Economics Explained Paul Craig Roberts Supply-Side economics burst onto the economic policy scene in Washington, D.C., on September 21, 1975 in the Sunday Washington Star in an article I had written for US Representative Jack Kemp that provided a supply-side economic basis for his capital formation bill. Subsequently, I generalized the supply-side approach when I realized that changes in…
Read more »Letter to the Editor
By: algol|07 October, 2009|Categories: Scholarship Summaries
This article appeared in the Fall 2009 issue of The Independent Review Paul R. Gregory’s account of Lenin’s suppression of dissident voices (“The Ship of Philosophers,” The Independent Review 13, no. 4 [spring 2009]: 485–92) offers no explanation except that dictators fear dissent. Lenin, however, had an additional reason to brook no dissent. In 1917, he had startled the Marxist world when he…
Read more »Memoir & Critique – My Time with Karl Marx
By: algol|07 April, 2004|Categories: Scholarship Summaries
This article appeared in the Spring 2004 issue of The Independent Review My path to Karl Marx was through my work on the Soviet economy. Sovietologists had difficulty comprehending the organizational nature of the Soviet economy because they were uninformed about its Marxian aspirations. Sovietologists regarded Marx as irrelevant to an understanding of the Soviet economy. Alexander Gerschenkron, one of…
Read more »Memoir & Defense – My Time with Supply-Side Economics
By: algol|07 December, 2003|Categories: Scholarship Summaries
This article appeared in the Winter 2003 issue of The Independent Review Supply-side economics is a major innovation in economics. It says that fiscal policy works by changing relative prices and shifting the aggregate supply curve,not by raising or lowering disposable income and shifting the aggregate demand curve. Supply-side economics reconciled micro- and macroeconomics by making relative-price analysis the basis…
Read more »The Causes of Wrongful Conviction
By: algol|07 April, 2003|Categories: Scholarship Summaries
This article by Paul Craig Roberts appeared in the Spring 2003 issue of The Independent Review. The execution of an innocent person cannot be remedied. This fact, together with mounting evidence of innocents on death row, has strengthened opposition to the death penalty. Nevertheless, the death penalty has proved to be a divisive issue. The divide between liberals and conservatives…
Read more »My Time with Soviet Economics
By: algol|07 October, 2002|Categories: Scholarship Summaries
This article by Paul Craig Roberts appeared in the Fall 2002 issue of The Independent Review. The academic study of the Soviet economy was unsuccessful. Several widely held misconceptions contributed to the lack of success. Western economists assumed that economic growth was assured, because the central planning authority controlled the rate of investment. They assumed that the Soviet economy was…
Read more »What Really Happened In 1981
By: algol|07 October, 2000|Categories: Scholarship Summaries
This article appeared in the Fall 2000 issue of The Independent Review Forward by Alan Reynolds Timothy Muris’s otherwise excellent piece “Ronald Reagan and the Rise of Large Deficits” (Independent Review 4 [winter 2000]: 365-76), necessarily misses some fascinating details known only to those of us who were actually there. The transition team began operating out of David Stockman’s congressional…
Read more »Michael Polanyi’s Economics
By: algol|07 April, 1999|Categories: Scholarship Summaries
This article by Paul Craig Roberts and Norman Van Cott appeared in the Spring 1999 issue of The Independent Review and was presented to an annual conference of the Western Economics Association during the 1970s. People familiar with Michael Polanyi are impressed by his intellectual powers, the range of his mind, and his ability to get to the heart of…
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