... OK, I'd have like $0.25 because there are only so many recessions people talk about. But that's not the point!
Cafe Hayek and Coordination Problem, on Larry White's article describing the Wirtschaftswunder.
1. If anyone wasn't aware, this is a very standard interpretation of West Germany in the post-war years. You get it in Barry Eichengreen's new book too, and he's no libertarian. This isn't to criticize White's article or Coordination Problem or Cafe Hayek's posts at all - it's to say I think they're right on the history. The point is to temper the conclusions they draw from their history.
2. Röpke explains quite clearly why output picks up after disasters, despite Bastiat's point that it's a net wealth loss.
If you want to "prove Keynesians wrong" - think first about whether you're even talking about a situation where Keynesian theory would advocate fiscal policy. Herbert Marcuse once said of Marxism "not every problem someone has with his girlfriend is necessarily due to the capitalist mode of production". Well, I say "not every problem someone has with his girlfriend is necessarily due to an aggregate demand deficiency".