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Full Description
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.
Contents
Introduction
This Trumpet Gives an Uncertain Sound: The Free- Market Response to Keynesian Economics by Mark Skousen
Fiscal Stimulus: An Unwise Policy for Recovery by John B. Egger
The Fallacy of the Phillips Curve by Jeffrey M. Herbener
The Myths of the Multiplier and the Accelerator by Jeffrey M. Herbener
Keynes and the Anti-Savings Mentality by Mark Skousen
Keynesian Policy and Development Economics by Bruce R. Barlett
The Fork in the Keynesian Road: Post-Keynesians and Neo-Keynesians by Don Bellante
Is Milton Friedman a Keynesian? by Roger W. Garrison
Keynes' First Principles by David Gordon
Keynes as a Speculator: A Critique of Keynesian Investment Theory by Mark Skousen
Keynes, the Man by Murray N. Rothbard
The Misesian Case against Keynes by Hans-Hermann Hoppe
References
Index
