Government Debt: The Formidable Heir of Democracy and Keynesianism

Today’s global economic situation, which is underscored by political myopia and reactionary policies, is the product of Keynesian economic theory. John Maynard Keynes’ influential economic work The General Theory of Employment, Interest and Money, has inspired much of the world’s modern economic theory. In fact, 35 years after publishing The General Theory, President Nixon is credited with saying “We are all Keynesians now.” It is a sentiment which has hardly been challenged in the White House since. At the cornerstone of Keynes’ philosophy is the manipulation of aggregate demand. His…

America’s Student Loan Crisis: What’s Going Wrong and How Can We Fix It?

The topic of student loans was one of the more prominent issues discussed in the election season. The price of tuition for colleges in the United States is rising alarmingly. “The average annual increase in college tuition from 1980-2014 grew by nearly 260% compared to the nearly 120% increase in all consumer items,” according to Business Insider. Student loan debt has now surpassed $1.3 trillion in the U.S. Government subsidization of college education, coupled with increasing demand, has contributed to this large increase in both tuition prices and student loan debt.…