Dissent on Keynes: A Critical Appraisal of Keynesian Economics
Praeger, 1992 - Business & Economics - 256 pages
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.
The contributors of this volume analyze the main tenets of Keynesianism--the multiplier and accelerator, the Phillips curve, the paradox of thrift, Keynesian development theory, progressive taxation, deficit spending and countercyclical demand policy, and post-Keynesianism. They demonstrate that it represents not only bad economic policy but bad economic theory, fraught with fallacies and errors. The work also offers a revisionist view of Keynes, the man, both as an economist and an investor.
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Needless to say , politicians often prefer higher taxes to cuts in spending . Thus
many LDCs now have extremely high tax rates , which discourage work effort ,
saving , entrepreneurship , enterprise , and many other things desperately
... into account the important differences between an advanced industrial country
, which may well be able to afford a heavier burden of taxation , and the status of
a developing nation desperately in need of work , savings , and investment .
Taxation , ” in Hugh Patrick and Henry Rosovsky , eds . , Asia ' s New Giant : How
the Japanese Economy Works , 317 – 82 . Washington , DC : Brookings Institute .
Peden , G . C . 1988 . Keynes , the Treasury and British Economic Policy .
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Keynes and Keynesianism 442
Friedman and Monetarism 252
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