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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... reduce wage rates . According to Keynes , reducing wage rates would be self - defeating because such an action would reduce aggre- gate demand ( Keynes 1936 : 260 ) . Hazlitt shows that Keynes confuses wage rates with wage income ...
... reduce the deficit by granting trade protection or monopoly status to state - owned enterprises , or parastatals , in order to increase their profits ( or cut their losses ) . In either case , the supposed benefits of a reduced deficit ...
... reduced from 91 percent to 70 percent . Lastly , most LDCs have suffered from enormous inflation since independence ... reduction of growth and very little increase in revenue , as workers and entrepreneurs retreat into subsistence ...
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 |