The Failure of the New Economics

The target here is John Maynard Keynes's "General Theory," the book that appeared in 1936 and swept all before it. In economic science, Keynes changed everything.

The Failure of the New Economics

Author: Henry Hazlitt

Publisher:

ISBN: 9781684220465

Page: 472

View: 520

2016 Reprint of 1959 Edition. Full facsimile of the original edition, not reproduced with Optical Recognition Software. Henry Hazlitt did the seemingly impossible, something that was and is a magnificent service to all people everywhere. He wrote a line-by-line commentary and refutation of what he considered to be one of the most destructive, fallacious, and convoluted books of the century. The target here is John Maynard Keynes's "General Theory," the book that appeared in 1936 and swept all before it. In economic science, Keynes changed everything. He supposedly demonstrated that prices don't work, that private investment is unstable, that sound money is intolerable, and that government was needed to shore up the system and save it. It was simply astonishing how economists the world over put up with this, but it happened. He converted a whole generation in the late period of the Great Depression. By the 1950s, almost everyone was Keynesian. But Hazlitt, the nation's economics teacher, would have none of it. And he did the hard work of actually going through the book to evaluate its logic according to Austrian-style logical reasoning. The result: a nearly 500-page masterpiece of exposition.

The Failure of the New Economics

The Failure of the New Economics

Author: Henry Hazlitt

Publisher: Ludwig von Mises Institute

ISBN: 1610164504

Page: 458

View: 427

The distinguished economic journalist refutes the theorems found in Keynes' General Theory of Employment, Interest, and Money and cites briefly the contradictions and dangers of his national income approach.

Market Failure in Training

The papers in this volume were fIrst presented at a symposium on "An Expanded Public Role in Job Training? The Issue of Market Failure in the Provision of Training. " The symposium took place in May, 1989.

Market Failure in Training

Author: David Stern

Publisher: Springer Science & Business Media

ISBN: 3642769861

Page: 233

View: 941

The papers in this volume were fIrst presented at a symposium on "An Expanded Public Role in Job Training? The Issue of Market Failure in the Provision of Training. " The symposium took place in May, 1989. It was sponsored by the LaFollette Institute of Public Affairs at the University of Wisconsin, Madison. JozefRitzen, then in Madison on leave from Erasmus University in the Netherlands, organized the symposium. Subsequently he became Minister of Education and Science for the Netherlands. He asked David Stern to fInish the work of editing the papers for publication. All the papers have been revised in light of comments by discussants at the symposium, as well as subsequent comments by the editors and outside reviewers. INTRODucrroN AND OVERVIEW Jozef M. M. Ritzen Erasmus University Rotterdam Minister of Education and Science The Netherlands David Stem School of Education University of California, Berkeley Two factors are contributing to an increased interest in the training of adult employees. First, there is the present high rate of change in the technologies embodied in products and in production processes. This enhances the negative effect of the undersupply of training on economic growth. Higher levels of training would provide a more fertile environment for technological change. The second factor is the aging of the population.

The Failure of the New Economics An Analysis of the Keynesian Fallacies

THE FAILURE OF THE “NEW ECONOMICS”: AN ANALYSIS OF THE KEYNESIAN FALLACIES BY HENRY HAZLITT Foreword by Murray N. Rothbard TABLE OF CONTENTS Contents TABLE OF CONTENTS 4 ACKNOWLEDGMENTS 5.

The Failure of the  New Economics   An Analysis of the Keynesian Fallacies

Author: Henry Hazlitt

Publisher: Pickle Partners Publishing

ISBN: 1786258633

Page: 378

View: 411

First published in 1959, this is a line-by-line commentary and refutation of one of the most destructive, fallacious, and convoluted books of the century: John Maynard Keynes’s General Theory, published in 1936. In economic science, Keynes changed everything. He supposedly demonstrated that prices don’t work, that private investment is unstable, that sound money is intolerable, and that government was needed to shore up the system and save it. It was simply astonishing how economists the world over put up with this, but it happened. He converted a whole generation in the late period of the Great Depression. By the 1950s, almost everyone was Keynesian. However, Hazlitt, the nation’s economics teacher, would have none of it. And he did the hard work of actually going through the book to evaluate its logic according to Austrian-style logical reasoning. “Hazlitt’s fine critique of Keynes is a worthy complement to Mises’ Human Action. Henry Hazlitt, a renowned economic journalist, is a better economist than a whole host of sterile academicians, and, in contrast to many of them, he is distinguished by courage: the courage to remain an “Austrian” in the teeth of the Keynesian holocaust, alongside Mises and F. A. Hayek. On its merits, this book should conquer the economics profession as rapidly as did Keynes. But whether the currently fashionable economists read and digest The Failure of the “New Economics” or not is, in the long run, immaterial: it will be read and it will destroy the Keynesian System.”—Murray Rothbard

The New Economics of Technology Policy

This innovative book comprehensively sheds light on the theory and practice of technological policies by employing modern analytical tools and economic techniques.

The New Economics of Technology Policy

Author: Dominique Foray

Publisher: Edward Elgar Publishing

ISBN: 184844916X

Page: 443

View: 658

This innovative book comprehensively sheds light on the theory and practice of technological policies by employing modern analytical tools and economic techniques. The New Economics of Technology Policy focuses on all public interventions intended to influence the intensity, composition and direction of technological innovations within a given entity such as a region, country or group of countries. Dominique Foray has gathered together many of the leading scholars in the field to comprehensively explore numerous avenues and pathways of research. Bringing together a collection of policy-oriented papers, this book will strongly appeal to policy-makers, academic researchers and graduate students with an interest in economics, public policy, science, technology and society.

The Failure of Laissez Faire Capitalism and Economic Dissolution of the West

This very readable book by a distinguished economist, Wall Street Journal editor, and Assistant Secretary of the US Treasury is a major challenge both to economic theory and to media explanations of the ongoing 21st century economic crisis.

The Failure of Laissez Faire Capitalism and Economic Dissolution of the West

Author: Paul Craig Roberts

Publisher: Atwell Publishing

ISBN: 0988406519

Page:

View: 310

This very readable book by a distinguished economist, Wall Street Journal editor, and Assistant Secretary of the US Treasury is a major challenge both to economic theory and to media explanations of the ongoing 21st century economic crisis. The one percent have pulled off an economic and political revolution. By offshoring manufacturing and professional service jobs, US corporations destroyed the growth of consumer income, the basis of the US economy, leaving the bulk of the population mired in debt. Deregulation was used to concentrate income and wealth in fewer hands and financial firms in corporations “too big to fail,” removing financial corporations from market discipline and forcing taxpayers in the US and Europe to cover bankster losses. Environmental destruction has accelerated as economists refuse to count the exhaustion of nature’s resources as a cost and as corporations impose the cost of their activities on the environment and on third parties who do not share in the profits. This is the book to read for those who want to understand the mistakes that are bringing the West to its knees.

The End of Theory

The End of Theory discusses why the human condition and the radical uncertainty of our world renders the standard economic model—and the theory behind it—useless for dealing with financial crises. What model should replace it? None.

The End of Theory

Author: Richard Bookstaber

Publisher: Princeton University Press

ISBN: 0691191859

Page: 240

View: 382

An in-depth look at how to account for the human complexities at the heart of today’s financial system Our economy may have recovered from the Great Recession—but not our economics. The End of Theory discusses why the human condition and the radical uncertainty of our world renders the standard economic model—and the theory behind it—useless for dealing with financial crises. What model should replace it? None. At least not any version we’ve been using for the past two hundred years. Richard Bookstaber argues for a new approach called agent-based economics, one that takes as a starting point the fact that we are humans, not the optimizing automatons that standard economics assumes we are. Sweeping aside the historic failure of twentieth-century economics, The End of Theory offers a novel perspective and more realistic framework to help prevent today's financial system from blowing up again.

What You Should Know About Inflation

For this paper-bound edition Mr. Hazlitt has added new statistics and information, and in a new preface he comments on the current economic situation.

What You Should Know About Inflation

Author: Henry S. Hazlitt

Publisher: Pickle Partners Publishing

ISBN: 1787200523

Page: 142

View: 767

A noted economist exposes the truth behind our shrinking dollars... What precisely is inflation? What is its cause? Its cure? How long will it last? Is there any way you can take advantage of inflation? If not, how can you protect yourself against further erosion in the value of your savings? Henry Hazlitt gives his answers to these questions and many more in this clear, readable book. He exposes the fallacies by which some people have come to justify inflation, and he discusses the role of governments in creating the very inflation that they claim to be combatting. For this paper-bound edition Mr. Hazlitt has added new statistics and information, and in a new preface he comments on the current economic situation. What You Should Know About Inflation is required reading for anyone who wants to know why his money is worth less and what he can do about it. “A keen economic mind...provides an incisive primer on the subject.”—THE WALL STREET JOURNAL “This concise little book explains the elements of the subject in simplest terms, and takes the mystery out of the technical jargon in which it is too often buried. Henry Hazlitt answers...questions with logic and lucidity.”—INVESTMENT DEALER’S DIGEST

Crisis and the Failure of Economic Theory

This book presents an alternative theoretical approach built on the lessons of Marx, Keynes, Schumpeter, Kalecki, Kaldor and Minsky, which highlights the structural instability of a capitalist economy and the endogenous nature of the ...

Crisis and the Failure of Economic Theory

Author: Giancarlo Bertocco

Publisher: Edward Elgar Publishing

ISBN: 1785365355

Page: 256

View: 600

Economists have rightly been criticized for not having foreseen the crisis that exploded in 2007–2008. As Giancarlo Bertocco eloquently argues, responsibility does indeed rest heavily on their shoulders. By developing a theory which excluded the possibility that a catastrophic crisis could ever happen, the economics profession has justified decisions and behaviours that caused the Great Recession. This book presents an alternative theoretical approach built on the lessons of Marx, Keynes, Schumpeter, Kalecki, Kaldor and Minsky, which highlights the structural instability of a capitalist economy and the endogenous nature of the current crisis.

Ireland

Ireland: A New Economic History offers a fresh, comprehensive economic history of Ireland between 1780 and 1939, which is mould-breaking in its methodology and unparalleled in its broad scope and comparative focus.

Ireland

Author: Cormac Ó Gráda

Publisher: Oxford University Press

ISBN:

Page: 536

View: 971

Ireland: A New Economic History offers a fresh, comprehensive economic history of Ireland between 1780 and 1939, which is mould-breaking in its methodology and unparalleled in its broad scope and comparative focus. Cormac O Grada unites historical research and economic theory in an original and stimulating book which will be essential reading for all students of Irish history. Within a broadly chronological framework, Professor O Grada examines all the well-known puzzles of Irish economic history during this period - including the 'inevitability' of the famine, the role of land tenure in agricultural backwardness, and the 'failure' of the economy to industrialize. His account is both accessible, with technical discussion kept to a minimum, and intellectually exciting.

New Economic Engine Effective Government and Efficient Market

This book contains at least three main highlights: breaking through the limitations of the mainstream Western economics system and the market theory framework, correctly explaining the successful experience of China’s reform and opening ...

New Economic Engine  Effective Government and Efficient Market

Author: Yunxian Chen

Publisher: Springer Nature

ISBN: 9811529221

Page: 120

View: 824

This book contains at least three main highlights: breaking through the limitations of the mainstream Western economics system and the market theory framework, correctly explaining the successful experience of China’s reform and opening up over the past 40 years from an economic perspective, and developing a new economics system and market theory. China’s reform and opening up and innovative developments have provided a wide range of materials and resources for this theory; the results of this research will be integrated into world economic theories and serve the economic development and economic growth across the world.

Austrian School Publications

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online.

Austrian School Publications

Author: Source Wikipedia

Publisher: Booksllc.Net

ISBN: 9781230798400

Page: 30

View: 427

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Pages: 28. Chapters: America's Great Depression, An Austrian Perspective on the History of Economic Thought, A History of Money and Banking in the United States (book), Bureaucracy (book), Capital and Interest, Conceived in Liberty, Economics in One Lesson, Economic Calculation in the Socialist Commonwealth, Egalitarianism as a Revolt Against Nature and Other Essays, For a New Liberty, Human Action, Individualism and Economic Order, Journal of Libertarian Studies, Law, Legislation and Liberty, Liberalism (book), Man, Economy, and State, Omnipotent Government, Power and Market, Principles of Economics, Quarterly Journal of Austrian Economics, Socialism (book), The Anti-Capitalistic Mentality, The Betrayal of the American Right, The Case Against the Fed, The Constitution of Liberty, The Economics and Ethics of Private Property, The Ethics of Liberty, The Failure of the New Economics, The Libertarian Forum, The Mystery of Banking, The Panic of 1819, The Theory of Money and Credit, The Use of Knowledge in Society, What Has Government Done to Our Money?. Excerpt: For a New Liberty: The Libertarian Manifesto is a book by American economist and historian Murray N. Rothbard, first published in 1973, that helped launch the modern libertarian movement in the United States, and was the first modern free market anarchist manifesto (though both capitalistic and anti-capitalistic theories of free-market anarchism had been advanced by the 19th century individualist anarchists). The second edition was first published in 1978, while the third edition was first published in 1985. It is the only book for which Rothbard received a mainstream publishing contract. Radicals for Capitalism notes, "This book strove to synthesize, in condensed form, the economic, historical, philosophical, and policy elements of Rothbard's vision...the book was meant as both a...

India s Economic Policy

Bimal Jalan, the well known economist and present Governor of the RBI, in this lucid and well-argued book, makes a case for governments doing what they alone can best do, and less of what they cannot do effectively.

India s Economic Policy

Author: Bimal Jalan

Publisher: Penguin Books India

ISBN: 9780140260069

Page: 217

View: 994

Nearly fifty years after independence, India remains a very poor country. It ranks near the bottom in terms of per capita income, and is similarly placed in the Human Development Index which measures social well-being. Economic growth in India has been less than half that of China or even other countries in Asia. And governments, at the Centre as well as in the states, are close to insolvency. The reason for our spectacular underachievement lies in the continuation of policies which had a certain validity as a response to the colonial experience, but which have long outlived their usefulness. The global economic scene has changed dramatically since they were formulated, and we must respond to the new realities. Bimal Jalan, the well known economist and present Governor of the RBI, in this lucid and well-argued book, makes a case for governments doing what they alone can best do, and less of what they cannot do effectively. 'One of the most lucid and lay-reader-accessible books to have been penned by an Indian economist.' --Outlook 'One cannot but agree with most of the suggestions made by Mr Jalan.' following the reforms process closely.' --Business India 'Jalan marshals a formidable array of facts to convey the general failure of the avowed mission of planning in India and the public sector's abysmal failure in particular.' --The Telegraph

The New American Economy

Bartlett makes a compelling, historically-based case for large tax increases, once anathema to him and his economic allies. In The New American Economy, Bartlett seeks to clarify a compelling and way forward for the American economy.

The New American Economy

Author: Bruce Bartlett

Publisher: St. Martin's Press

ISBN: 9780230101005

Page: 272

View: 676

As a domestic policy advisor to Ronald Reagan, Bruce Bartlett was one of the originators of Reaganomics, the supply-side economic theory that conservatives have clung to for decades. In The New American Economy, Bartlett goes back to the economic roots that made Impostor a bestseller and abandons the conservative dogma in favor of a policy strongly based on what's worked in the past. Marshalling compelling history and economics, he explains how economic theories that may be perfectly valid at one moment in time under one set of circumstances tend to lose validity over time because they are misapplied under different circumstances. Bartlett makes a compelling, historically-based case for large tax increases, once anathema to him and his economic allies. In The New American Economy, Bartlett seeks to clarify a compelling and way forward for the American economy.

The New Economics of Sustainable Consumption

... 28–35 enfranchisement failure, 40–2 equity failure, 42–3 hidden agenda, 43–4 information failure, 37–8 measurement failure, 39–40 pricing failure, 35–7 self-regulation failure, 38–9 New Economics model of, see New Economics model, ...

The New Economics of Sustainable Consumption

Author: G. Seyfang

Publisher: Springer

ISBN: 023023450X

Page: 218

View: 143

This book offers a fresh look at sustainable consumption, exploring how grassroots community action can spread ideas in society. It presents a 'New Economics' approach based on alternative measures of wealth and value, examining how these are put into practice through local organic food systems, low-impact eco-housing, and complementary currencies.

The Foundations of Morality

In this impressive work Henry Hazlitt explores the proper foundation of morality, offering a unified theory of laws, morals, and manners.

The Foundations of Morality

Author: Henry Hazlitt

Publisher: CreateSpace

ISBN: 9781452858159

Page: 398

View: 835

In this impressive work Henry Hazlitt explores the proper foundation of morality, offering a unified theory of laws, morals, and manners. Noted economist Leland Yeager, in his foreword to this edition, says that The Foundations of Morality "provides . . . the soundest philosophical basis for the humane society that is the ideal of classical liberals."