The Failure of the "New Economics": An Analysis of the Keynesian Fallacies

Descripción

First edition, sixth printing matching first printing in design, materials, colors. First Published April 1959; this printing, March 1967. A heavy volume of substance. Manila beige boards, reddish brown cloth spine wrap, white spine titles, moderate shelf wear, little residue at boards. Pages very good, clean. Bind fine, square; hinges intact. Original wrapper in mustard yellow with black band and whites, moderate shelf wear, rub; price-clipped, protected in new clear sleeve. Front flap features summary of this title and back panel a brief bio of Hazlitt; back panel features rave review blurbs for this title. Clean, near very good early printing of the original edition in same wrapper. Stamp at title page and initials to exterior block, card pocket at back, and wrapper label, for: "Sauk Valley College Library." Interestingly, Sauk Valley College is in Dixon, Illinois was the boyhood home of President Ronald Reagan. Dixon is also the site of the Lincoln Monument State Memorial, marking the spot where Abraham Lincoln joined the Illinois militia at Fort Dixon in 1832 during the Black Hawk War. A lively, penetrating criticim of Lord Keyne's celebrated work "The General Theory of Employment, Interest, and Money." In this book, Hazlitt writes a critical chapter-by-chapter and theorem-by-theorem analysis of Keyne's 'New Economics' first posited in 1936. Hazlitt contends that these economic theories fail as a tool of analysis and as a basis for forecasting or as public policy. Insightful, digestible, yet comprehensive material. "Hazlitt, with cold logic and economic skill, destroys the whole Keynesian theory." - Raymond Moley. "He has entirely demolished the Keynesian misconceptions." - Ludwig Von Mises. Henry Hazlitt did the seemingly impossible, something that was and is a magnificent service to all people everywhere. He wrote a line-by-line commentary and refutation of one of the most destructive, fallacious, and convoluted books of the century. The target is John Maynard Keynes's General Theory, the book that appeared in 1936 and swept all before it. In economic science, Keynes changed everything. He supposedly demonstrated that prices don't work, that private investment is unstable, that sound money is intolerable, and that government was needed to shore up the system and save it. It was simply astonishing how economists the world over put up with this, but it happened. He was used to convert a whole generation in the late period of the Great Depression. By the 1950s, almost everyone was Keynesian. But Hazlitt, the nation's economics teacher, would have none of it. And he did the hard work of actually going through the book to evaluate its logic according to Austrian-style logical reasoning. The result: this five hundred-page masterpiece of exposition on modern monetary theory. Murray Rothbard was blown away. Hazlitt was a libertarian philosopher, economist, and journalist for various publications including the Wall Street Journal and The New York Times, and Newsweek. He was the founding vice-president of the Foundation for Economic Education and an early editor of The Freeman, an important libertarian magazine. In 1946 Hazlitt wrote "Economics in One Lesson," his seminal text on free market economics, which Ayn Rand called a "magnificent job of theoretical exposition." Hazlitt is credited with bringing his ideas and those of the so-called Austrian School to American economics; his work has influenced, among many, three-time presidential candidate Ron Paul. Includes eight-page detailed index. Printed in the United States of America. 458 pages. Insured post. Size: 8vo - over 7¾ - 9¾" Tall. N° de ref. del artículo 022262

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