10 of 10 people found the following review helpful
This should have ended the nonsense,
This review is from: The Failure of the New Economics (Paperback)
Hazlitt probably did not have fun writing this book. After all a chapter by chapter refutation of the General Theory means that one has to actually read the General Theory first...
Since only a part of the General Theory has been adapted to modern mainstream thinking, Hazlitt goes through a lot of nonsense that hasn't been relevant for decades. But there are some really juicy parts in this book that make it worth the read. Whether it's the magic of the multiplier, how Say owns Keynes or when it's just so ridiculous it's almost funny.
Obviously there's nothing funny here, since to many Keynes is still the ultimate maestro of macro. These people should read this book, because this book documents almost every Keynesian fallacy that there is, and certainly the most relevant ones.