Keynesian Economics

Governments will not reduce levels of unemployment by spending more

The exchange between Michael Jenkins ('Government purse filled by taxpayers', January 14) and Chohong Choi ('Government funding does create jobs', January 26) illustrates how misunderstood economics is.

Wednesday, 1 February, 2012, 12:00am


Freefall by Joseph Stiglitz Allen Lane HK$130

10 Oct 2010 - 12:00am

The Return of Depression Economics

The Return of Depression Economics by Paul Krugman Penguin, HK$142

27 Sep 2009 - 12:00am

Why HK is better off missing stimulus train

Slowly but surely, every major government which can afford to do so has put forward a big economic stimulus package or two. With the world economy staring into the abyss, talk of fiscal caution and moral hazard, understandably, take a back seat. Deficit spending is in; fiscal prudence is out. Hong Kong, however, is likely to be an exception.

31 Jan 2009 - 12:00am

Keen on Keynes

With the year winding down, that inevitable question is doing the rounds again: who has been the most influential person? Time magazine would seem to have given the obvious answer on Wednesday, naming US president-elect Barack Obama. For those who judge such matters by media profile and popularity, this is a good choice.

19 Dec 2008 - 12:00am

Global stocks soar on stimulus plans

Buyers returned to local and world equity markets yesterday as investors cheered the latest round of government stimulus measures, hoping they would be enough to buoy the sinking global economy.

9 Dec 2008 - 12:00am

How to fix a financial Humpty Dumpty

It is the best of times and the very worst of times for world leaders meeting in Washington to try to rebuild a broken global system: it is the best of times because leaders from developed and developing countries have gathered in one place, and China and India are at last at the top table; it is the worst of times because it is an act of supreme vainglory by a lame-duck US president to imagin

15 Nov 2008 - 12:00am

25 Years Ago

OMAHAR, NEBRASKA (April 25): PRESIDENT Nixon's 'economists have exactly the same relation to the economic policy as the Rev. Billy Graham does to sin: It's something you comment on but don't feel any responsibility for,' the Harvard economist, Professor John Galbraith said yesterday.

25 Apr 1999 - 12:00am

Common sense triggers rebound

Four weeks ago, when I suggested that 'the greatest financial crisis since the 1930s' might be over already, this comment was intended as a wry joke. It was certainly possible to discern the first glimmers of hope in financial markets amid all the gloom of early October.

13 Nov 1998 - 12:00am

HK proves greed is good

I WISH the Tarquin Scargills of this world would leave their marshmallow, neo-Keynesian, nanny-state economics in the gutter of history where it belongs (letter, South China Morning Post, January 23).

How did the UK fare under the all too visible hand of state intervention? It is now the sick man of Europe.

27 Jan 1996 - 12:00am

Chinese economists grasp inflation . . .

THERE'S a much used explanation about inflation. It says that too much money chasing too few goods equals rising prices.

This is true inflation as defined by Keynesians. When a further increase in demand produces no further increase in output, we are in a position of true inflation.

7 Sep 1993 - 12:00am