Dissent on Keynes: A Critical Appraisal of Keynesian EconomicsMark Skousen Keynesian economics is not dead but is alive and kicking in the U.S. and elsewhere. However, Keynesian economics has caused the U.S. and other countries under its influence to suffer inflation, economic instability, excessive debt, overconsumption, and underinvestment on a serious scale. Meanwhile, many Far Eastern and European countries have rejected Keynesian-style economics and are rapidly surpassing the U.S. in economic growth. This edited volume is the first and only modern work to attack Keynesian economic theory, which is at the root of many of the U.S. economic problems. |
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... AGGREGATE PRIVATE DEMAND In the simplest Keynesian model , unemployment arises because the aggregate demand for output ( the sum of individuals ' consumption and businesses ' in- vestment spending ) is not large enough . Suppose these ...
... aggregate demand . A compromise example might crowd out $ 200 million of investment and $ 650 million of consumption , leaving a $ 150 - million rise in aggregate demand . This increase in overall spending can come from only one of two ...
... aggregate demand function relates various hypothetical quantities of employment to the proceeds which their outputs are expected to yield ; and the effective demand is the point on the aggregate demand function which becomes effective ...
Contents
Introduction | 3 |
Keynes and Keynesianism 442 | 5 |
An Unwise Policy for Recovery | 35 |
Copyright | |
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Dissent on Keynes: A Critical Appraisal of Keynesian Economics Mark Skousen No preview available - 1992 |