Robert Kuttner
At the heart of the laissez-faire theory is the idea of rational economic actors maximizing their utility by freely choosing among alternatives. From this core premise, theorists posit that all private choices are free of coercion, since the actor is always free to choose another course. In the purest Chicago version of the theory, the only force that interferes with the magnificent, optimizing process is … [ Read more ]
Content: Quotation | Author: Robert Kuttner | Source: European Business Forum (EBF) | Subject: Economics
Where Have All the Keynesians Gone?
Do big deficits increase interest rates? There is a strange debate on this question going on between the Brookings Institution and The Wall Street Journal editorial page.
Editor’s Note: this is a topical piece centered on the 2003 Bush budget proposal, but the concepts addressed are not topical.
Content: Article | Author: Robert Kuttner | Source: BusinessWeek | Subject: Economics