Henry Hazlitt confronted the rise of Keynesianism in his day and put together an intellectual arsenal: the most brilliant economists of the time showing what is wrong with the system, in great detail with great rigor. With excerpts from books and articles published between the 30s and 50s, it remains the most powerful anti-Keynesian collection ever assembled.
· Introduction By Henry Hazlitt
· Say's Law By Jean Baptiste Say
· Of The Influence Of Consumption On Production By John Stuart Mill
· Mr. Keynes On The Causes Of Unemployment By Jacob Viner
· Unemployment: And Mr. Keynes's Revolution In Economic Theory By Frank H. Knight
· Mr. Keynes' "General Theory" By Etienne Mantoux
· The Economics Of Abundance By F. A. Hayek
· Liquidity Preference And The Theory Of Interest And Money By Franco Modigliani
· Digression On Keynes by Benjamin M. Anderson
· The Philosophy Of Lord Keynes By Philip Cortney
· Beveridge's "Full Employment In A Free Society" By R. Gordon Wasson
· John Maynard Keynes By Garet Garrett
· The Fallacies Of Lord Keynes' General Theory By Jacques Rueff
· Appraisal Of Keynesian Economics By John H. Williams
· Continental European Pre-Keynesianism By L. Albert Hahn
· Stones Into Bread, The Keynesian Miracle By Ludwig Von Mises
· Lord Keynes And Say's Law By Ludwig Von Mises
· Lord Keynes And The Financial Community By Joseph Stagg Lawrence
· The Economics Of Full Employment By Wilhelm Ropke
· The Significance Of Price Flexibility By W. H. Hutt
· Keynes' Theory Of Underemployment Equilibrium By Arthur F. Burns
· The Keynesian Mythology By Melchior Palyi
Mr. Keynes And The "Day Of Judgment" By David Mc Cord Wright
Softcover, 438 pages
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8 of 8 people found the following review helpful:
3.0 out of 5 stars
The Early Critics of Keynes,
By
This review is from: The Critics of Kenesian Economics (Paperback)
Hazlitt edited this 1960 volume of early reactions to Keynes at a time when most economists were devout Keynesians. For the most part this book is a colleting of writings by Keynes' earliest critics. It also includes a chapter by JB Say. There are several things to note about this book. It is interesting for the largely purposes of History of Economic Thought. The Keynesian paradigm that prevailed in 1960 is now stone dead. Nobody believes in a stable Philips curve anymore. The Modigliani chapter is part of that era when the old Keynesian paradigm was still taken seriously.
Most of the authors go further back to Keynes himself. Mises and Hayek are always interesting to read, and Keynes deserved to be critiqued at that time. But Keynes' book is rarely read by economists nowadays. Though many economists still refer to themselves as Keynesians, few of them know anything about Keynes' own ideas. The General Theory of Employment, Interest, and Money is a dead horse, let it rest. It seems odd that this volume contains not even one thing written by Milton Friedman. Yes, I know, we Austrians have some disagreements with Friedman, but we have disagreements with Frank Knight too, and Hazlitt included a Knight chapter. Of course, Friedman did not rise to real prominence until after this book came out. But the more recent edition of this book might have included something from Friedman, perhaps his paper on long and variable lags. It would be nice to see something on Political Business cycles too. In any case, the arguments of this book do not apply all that directly to the New Keynesian paradigm, as developed by Stiglitz, Akerlof, Mankiw and others. So you should read it while remembering the context in which it was edited. This is a good book for those who want to understand more about the early debate over Keynesian economics. Look elsewhere for material on the current debate in macroeconomics.
2 of 4 people found the following review helpful:
5.0 out of 5 stars
A fundamental book for all students of economics!,
This review is from: The Critics of Kenesian Economics (Paperback)
This simply cannot be over-stated: this book is fundamental for all students of economics. It debunks Keynes and show just how completely absurd his thinking is, often bordering on mysticism and magic ("Inflation can turn stones into break").
The previous review that claims that the critics of Keynes didn't understand his mathematical model would be funny if it wasn't so sad to imagine anyone would be so much in love with an absurd theory as to look for desperate ways to defend it. Among the critics, there are some of the best economists of the 20th century, including Nobel Price winner Friedrich von Hayek, hardly people who would find it challenging to understand Keynes' math. Besides, this just proves another point: if an economic theory cannot be put into clear and concise words, the best math in the world won't save it. Nonsense is still nonsense even when it tries to hide in complex formulas. Of course math cannot contradict logic and Keynes theories were extremely illogical, which is exactly what this book proves beyond any doubt.
0 of 2 people found the following review helpful:
5.0 out of 5 stars
A Good reference for keyens economics,
Amazon Verified Purchase(What's this?)
This review is from: The Critics Of Keynesian Economics (1960) (Hardcover)
this book has just received by me on mar.,1,2011, it is too long time for me to wait for. Anyway, the book ordered has arrived, to join my references on keynes study.
thank amazon.com for all the way.
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