Posts Tagged ‘John Maynard Keynes’

Playing Whack-A-Mole with the Regulators »

As Congress contemplates how to sculpt the next phase of regulations to prevent overaggressive or unethical conduct in the financial world, we need to ask a basic question. Can the regulators ever keep up? It is my feeling that whereas of course well-crafted regulations administered by nimble regulators can make a difference, they can never

Understanding Adam Smith and John Maynard Keynes »

Sooner or later, we have to talk about the economy and there are perhaps no greater influences on thinking in Washington today than Adam Smith's "invisible hand" and Keynes' "animal spirits." Let me outline for you the difference between the two: Adam Smith: Smith believed that the result of lots and lots of people acting in their best