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Author: Henry Hazlitt
Publisher: Ludwig von Mises Institute
Published: 1959
Total Pages: 473
ISBN-13: 1610164504
DOWNLOAD EBOOKDownload or read book The Failure of the "New Economics" written by Henry Hazlitt and published by Ludwig von Mises Institute. This book was released on 1959 with total page 473 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author: Henry Hazlitt
Publisher:
Published: 2016-11-11
Total Pages: 472
ISBN-13: 9781684220465
DOWNLOAD EBOOK2016 Reprint of 1959 Edition. Full facsimile of the original edition, not reproduced with Optical Recognition Software. 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 what he considered to be one of the most destructive, fallacious, and convoluted books of the century. The target here 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 converted 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: a nearly 500-page masterpiece of exposition.
Download or read book The Failure of the New Economics written by Henry Hazlitt and published by . This book was released on 2016-11-11 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt: 2016 Reprint of 1959 Edition. Full facsimile of the original edition, not reproduced with Optical Recognition Software. 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 what he considered to be one of the most destructive, fallacious, and convoluted books of the century. The target here 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 converted 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: a nearly 500-page masterpiece of exposition.
Author: Henry Hazlitt
Publisher: Pickle Partners Publishing
Published: 2016-03-28
Total Pages: 378
ISBN-13: 1786258633
DOWNLOAD EBOOKFirst published in 1959, this is a line-by-line commentary and refutation of one of the most destructive, fallacious, and convoluted books of the century: John Maynard Keynes’s General Theory, published in 1936. 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 converted a whole generation in the late period of the Great Depression. By the 1950s, almost everyone was Keynesian. However, 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. “Hazlitt’s fine critique of Keynes is a worthy complement to Mises’ Human Action. Henry Hazlitt, a renowned economic journalist, is a better economist than a whole host of sterile academicians, and, in contrast to many of them, he is distinguished by courage: the courage to remain an “Austrian” in the teeth of the Keynesian holocaust, alongside Mises and F. A. Hayek. On its merits, this book should conquer the economics profession as rapidly as did Keynes. But whether the currently fashionable economists read and digest The Failure of the “New Economics” or not is, in the long run, immaterial: it will be read and it will destroy the Keynesian System.”—Murray Rothbard
Download or read book The Failure of the "New Economics": An Analysis of the Keynesian Fallacies written by Henry Hazlitt and published by Pickle Partners Publishing. This book was released on 2016-03-28 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1959, this is a line-by-line commentary and refutation of one of the most destructive, fallacious, and convoluted books of the century: John Maynard Keynes’s General Theory, published in 1936. 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 converted a whole generation in the late period of the Great Depression. By the 1950s, almost everyone was Keynesian. However, 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. “Hazlitt’s fine critique of Keynes is a worthy complement to Mises’ Human Action. Henry Hazlitt, a renowned economic journalist, is a better economist than a whole host of sterile academicians, and, in contrast to many of them, he is distinguished by courage: the courage to remain an “Austrian” in the teeth of the Keynesian holocaust, alongside Mises and F. A. Hayek. On its merits, this book should conquer the economics profession as rapidly as did Keynes. But whether the currently fashionable economists read and digest The Failure of the “New Economics” or not is, in the long run, immaterial: it will be read and it will destroy the Keynesian System.”—Murray Rothbard
Author: Dean Baker
Publisher: MIT Press
Published: 2010-04-02
Total Pages: 48
ISBN-13: 0262291533
DOWNLOAD EBOOKA leading economist's exploration of what our economic arrangements might look like if we applied basic principles without ideological blinders. There is nothing wrong with economics, Dean Baker contends, but economists routinely ignore their own principles when it comes to economic policy. What would policy look like if we took basic principles of mainstream economics seriously and applied them consistently? In the debate over regulation, for example, Baker—one of the few economists who predicted the meltdown of fall 2008—points out that ideological blinders have obscured the fact there is no “free market” to protect. Modern markets are highly regulated, although intrusive regulations such as copyright and patents are rarely viewed as regulatory devices. If we admit the extent to which the economy is and will be regulated, we have many more options in designing policy and deciding who benefits from it. On health care reform, Baker complains that economists ignore another basic idea: marginal cost pricing. Unlike all other industries, medical services are priced extraordinarily high, far above the cost of production, yet that discrepancy is rarely addressed in the debate about health care reform. What if we applied marginal cost pricing—making doctors' wages competitive and charging less for prescription drugs and tests such as MRIs? Taking Economics Seriously offers an alternative Econ 101. It introduces economic principles and thinks through what we might gain if we free ourselves from ideological blinders and get back to basics in the most troubled parts of our economy.
Download or read book Taking Economics Seriously written by Dean Baker and published by MIT Press. This book was released on 2010-04-02 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: A leading economist's exploration of what our economic arrangements might look like if we applied basic principles without ideological blinders. There is nothing wrong with economics, Dean Baker contends, but economists routinely ignore their own principles when it comes to economic policy. What would policy look like if we took basic principles of mainstream economics seriously and applied them consistently? In the debate over regulation, for example, Baker—one of the few economists who predicted the meltdown of fall 2008—points out that ideological blinders have obscured the fact there is no “free market” to protect. Modern markets are highly regulated, although intrusive regulations such as copyright and patents are rarely viewed as regulatory devices. If we admit the extent to which the economy is and will be regulated, we have many more options in designing policy and deciding who benefits from it. On health care reform, Baker complains that economists ignore another basic idea: marginal cost pricing. Unlike all other industries, medical services are priced extraordinarily high, far above the cost of production, yet that discrepancy is rarely addressed in the debate about health care reform. What if we applied marginal cost pricing—making doctors' wages competitive and charging less for prescription drugs and tests such as MRIs? Taking Economics Seriously offers an alternative Econ 101. It introduces economic principles and thinks through what we might gain if we free ourselves from ideological blinders and get back to basics in the most troubled parts of our economy.
Author: Graeme Maxton
Publisher: John Wiley & Sons
Published: 2011-09-07
Total Pages: 240
ISBN-13: 0470830018
DOWNLOAD EBOOKA cold, hard look at how modern economics has failed us and why we need a new measure of progress Modern economics has fallen short. It has widened the gap between rich and poor. It has not allocated the world's resources fairly. It has brought the West to the brink of financial ruin. It has placed short-term gain before long-term progress. And it has made us focus on the individual, not the society. The end result is a worldwide financial crisis of epic proportions and a planet being scraped clean of the resources needed by future generations, and things are only getting worse. In The End of Progress: How Modern Economics Has Failed Us popular economist Graeme Maxton looks at what went wrong, and what we can do to get ourselves back on track. During the Age of Enlightenment society flourished, propelled by the wonder of new discoveries, radical ideas for economic and social development, and a sense that we all had a responsibility to improve our world. It's time to get back to those ideals, step back and examine our values, and work out what humankind really needs. Presents a chilling look at our current financial system along with a compelling argument for what we need to change Argues for new measures of progress that emphasize what really matters, not personal greed Offers a timely look at our broken society and where we're headed next A thought-provoking, informative book, The End of Progress looks at what got us into our present mess, and shines light onto the road ahead.
Download or read book The End of Progress written by Graeme Maxton and published by John Wiley & Sons. This book was released on 2011-09-07 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: A cold, hard look at how modern economics has failed us and why we need a new measure of progress Modern economics has fallen short. It has widened the gap between rich and poor. It has not allocated the world's resources fairly. It has brought the West to the brink of financial ruin. It has placed short-term gain before long-term progress. And it has made us focus on the individual, not the society. The end result is a worldwide financial crisis of epic proportions and a planet being scraped clean of the resources needed by future generations, and things are only getting worse. In The End of Progress: How Modern Economics Has Failed Us popular economist Graeme Maxton looks at what went wrong, and what we can do to get ourselves back on track. During the Age of Enlightenment society flourished, propelled by the wonder of new discoveries, radical ideas for economic and social development, and a sense that we all had a responsibility to improve our world. It's time to get back to those ideals, step back and examine our values, and work out what humankind really needs. Presents a chilling look at our current financial system along with a compelling argument for what we need to change Argues for new measures of progress that emphasize what really matters, not personal greed Offers a timely look at our broken society and where we're headed next A thought-provoking, informative book, The End of Progress looks at what got us into our present mess, and shines light onto the road ahead.
Author: Josh Bivens
Publisher: Cornell University Press
Published: 2011-02-15
Total Pages: 120
ISBN-13: 9780801461132
DOWNLOAD EBOOKIn Failure by Design, the Economic Policy Institute’s Josh Bivens takes a step back from the acclaimed State of Working America series, building on its wealth of data to relate a compelling narrative of the U.S. economy’s struggle to emerge from the Great Recession of 2008. Bivens explains the causes and impact on working Americans of the most catastrophic economic policy failure since the 1920s. As outlined clearly here, economic growth since the late 1970s has been slow and inequitably distributed, largely as a result of poor policy choices. These choices only got worse in the 2000s, leading to an anemic economic expansion. What growth we did see in the economy was fueled by staggering increases in private-sector debt and a housing bubble that artificially inflated wealth by trillions of dollars. As had been predicted, the bursting of the housing bubble had disastrous consequences for the broader economy, spurring a financial crisis and a rise in joblessness that dwarfed those resulting from any recession since the Great Depression. The fallout from the Great Recession makes it near certain that there will be yet another lost decade of income growth for typical families, whose incomes had not been boosted by the previous decade’s sluggish and localized economic expansion. In its broad narrative of how the economy has failed to deliver for most Americans over much of the past three decades, Failure by Design also offers compelling graphic evidence on jobs, incomes, wages, and other measures of economic well-being most relevant to low- and middle-income workers. Josh Bivens tracks these trends carefully, giving a lesson in economic history that is readable yet rigorous in its analysis. Intended as both a stand-alone volume and a companion to the new State of Working America website that presents all of the data underlying this cogent analysis, Failure by Design will become required reading as a road map to the economic problems that confront working Americans.
Download or read book Failure by Design written by Josh Bivens and published by Cornell University Press. This book was released on 2011-02-15 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Failure by Design, the Economic Policy Institute’s Josh Bivens takes a step back from the acclaimed State of Working America series, building on its wealth of data to relate a compelling narrative of the U.S. economy’s struggle to emerge from the Great Recession of 2008. Bivens explains the causes and impact on working Americans of the most catastrophic economic policy failure since the 1920s. As outlined clearly here, economic growth since the late 1970s has been slow and inequitably distributed, largely as a result of poor policy choices. These choices only got worse in the 2000s, leading to an anemic economic expansion. What growth we did see in the economy was fueled by staggering increases in private-sector debt and a housing bubble that artificially inflated wealth by trillions of dollars. As had been predicted, the bursting of the housing bubble had disastrous consequences for the broader economy, spurring a financial crisis and a rise in joblessness that dwarfed those resulting from any recession since the Great Depression. The fallout from the Great Recession makes it near certain that there will be yet another lost decade of income growth for typical families, whose incomes had not been boosted by the previous decade’s sluggish and localized economic expansion. In its broad narrative of how the economy has failed to deliver for most Americans over much of the past three decades, Failure by Design also offers compelling graphic evidence on jobs, incomes, wages, and other measures of economic well-being most relevant to low- and middle-income workers. Josh Bivens tracks these trends carefully, giving a lesson in economic history that is readable yet rigorous in its analysis. Intended as both a stand-alone volume and a companion to the new State of Working America website that presents all of the data underlying this cogent analysis, Failure by Design will become required reading as a road map to the economic problems that confront working Americans.
Author: Paul Craig Roberts
Publisher: Atwell Publishing
Published:
Total Pages: 134
ISBN-13: 0988406519
DOWNLOAD EBOOKThis very readable book by a distinguished economist, Wall Street Journal editor, and Assistant Secretary of the US Treasury is a major challenge both to economic theory and to media explanations of the ongoing 21st century economic crisis. The one percent have pulled off an economic and political revolution. By offshoring manufacturing and professional service jobs, US corporations destroyed the growth of consumer income, the basis of the US economy, leaving the bulk of the population mired in debt. Deregulation was used to concentrate income and wealth in fewer hands and financial firms in corporations “too big to fail,” removing financial corporations from market discipline and forcing taxpayers in the US and Europe to cover bankster losses. Environmental destruction has accelerated as economists refuse to count the exhaustion of nature’s resources as a cost and as corporations impose the cost of their activities on the environment and on third parties who do not share in the profits. This is the book to read for those who want to understand the mistakes that are bringing the West to its knees.
Download or read book The Failure of Laissez Faire Capitalism and Economic Dissolution of the West written by Paul Craig Roberts and published by Atwell Publishing. This book was released on with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: This very readable book by a distinguished economist, Wall Street Journal editor, and Assistant Secretary of the US Treasury is a major challenge both to economic theory and to media explanations of the ongoing 21st century economic crisis. The one percent have pulled off an economic and political revolution. By offshoring manufacturing and professional service jobs, US corporations destroyed the growth of consumer income, the basis of the US economy, leaving the bulk of the population mired in debt. Deregulation was used to concentrate income and wealth in fewer hands and financial firms in corporations “too big to fail,” removing financial corporations from market discipline and forcing taxpayers in the US and Europe to cover bankster losses. Environmental destruction has accelerated as economists refuse to count the exhaustion of nature’s resources as a cost and as corporations impose the cost of their activities on the environment and on third parties who do not share in the profits. This is the book to read for those who want to understand the mistakes that are bringing the West to its knees.
Author: Michael Jacobs
Publisher: John Wiley & Sons
Published: 2016-07-21
Total Pages: 224
ISBN-13: 1119311632
DOWNLOAD EBOOK"Thought provoking and fresh - this book challenges how we think about economics.” Gillian Tett, Financial Times For further information about recent publicity events and media coverage for Rethinking Capitalism please visit http://marianamazzucato.com/rethinking-capitalism/ Western capitalism is in crisis. For decades investment has been falling, living standards have stagnated or declined, and inequality has risen dramatically. Economic policy has neither reformed the financial system nor restored stable growth. Climate change meanwhile poses increasing risks to future prosperity. In this book some of the world’s leading economists propose new ways of thinking about capitalism. In clear and compelling prose, each chapter shows how today’s deep economic problems reflect the inadequacies of orthodox economic theory and the failure of policies informed by it. The chapters examine a range of contemporary economic issues, including fiscal and monetary policy, financial markets and business behaviour, inequality and privatisation, and innovation and environmental change. The authors set out alternative economic approaches which better explain how capitalism works, why it often doesn’t, and how it can be made more innovative, inclusive and sustainable. Outlining a series of far-reaching policy reforms, Rethinking Capitalism offers a powerful challenge to mainstream economic debate, and new ideas to transform it.
Download or read book Rethinking Capitalism written by Michael Jacobs and published by John Wiley & Sons. This book was released on 2016-07-21 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Thought provoking and fresh - this book challenges how we think about economics.” Gillian Tett, Financial Times For further information about recent publicity events and media coverage for Rethinking Capitalism please visit http://marianamazzucato.com/rethinking-capitalism/ Western capitalism is in crisis. For decades investment has been falling, living standards have stagnated or declined, and inequality has risen dramatically. Economic policy has neither reformed the financial system nor restored stable growth. Climate change meanwhile poses increasing risks to future prosperity. In this book some of the world’s leading economists propose new ways of thinking about capitalism. In clear and compelling prose, each chapter shows how today’s deep economic problems reflect the inadequacies of orthodox economic theory and the failure of policies informed by it. The chapters examine a range of contemporary economic issues, including fiscal and monetary policy, financial markets and business behaviour, inequality and privatisation, and innovation and environmental change. The authors set out alternative economic approaches which better explain how capitalism works, why it often doesn’t, and how it can be made more innovative, inclusive and sustainable. Outlining a series of far-reaching policy reforms, Rethinking Capitalism offers a powerful challenge to mainstream economic debate, and new ideas to transform it.
Author: Steve Keen
Publisher: John Wiley & Sons
Published: 2021-11-11
Total Pages: 141
ISBN-13: 1509545301
DOWNLOAD EBOOKIn 1517, Martin Luther nailed his 95 theses to the wall of Wittenberg church. He argued that the Church’s internally consistent but absurd doctrines had pickled into a dogmatic structure of untruth. It was time for a Reformation. Half a millennium later, Steve Keen argues that economics needs its own Reformation. In Debunking Economics, he eviscerated an intellectual church – neoclassical economics – that systematically ignores its own empirical untruths and logical fallacies, and yet is still mysteriously worshipped by its scholarly high priests. In this book, he presents his Reformation: a New Economics, which tackles serious issues that today's economic priesthood ignores, such as money, energy and ecological sustainability. It gives us hope that we can save our economies from collapse and the planet from ecological catastrophe. Performing this task with his usual panache and wit, Steve Keen’s new book is unmissable to anyone who has noticed that the economics Emperor is naked and would like him to put on some clothes.
Download or read book The New Economics written by Steve Keen and published by John Wiley & Sons. This book was released on 2021-11-11 with total page 141 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1517, Martin Luther nailed his 95 theses to the wall of Wittenberg church. He argued that the Church’s internally consistent but absurd doctrines had pickled into a dogmatic structure of untruth. It was time for a Reformation. Half a millennium later, Steve Keen argues that economics needs its own Reformation. In Debunking Economics, he eviscerated an intellectual church – neoclassical economics – that systematically ignores its own empirical untruths and logical fallacies, and yet is still mysteriously worshipped by its scholarly high priests. In this book, he presents his Reformation: a New Economics, which tackles serious issues that today's economic priesthood ignores, such as money, energy and ecological sustainability. It gives us hope that we can save our economies from collapse and the planet from ecological catastrophe. Performing this task with his usual panache and wit, Steve Keen’s new book is unmissable to anyone who has noticed that the economics Emperor is naked and would like him to put on some clothes.
Author: Richard Bookstaber
Publisher: Princeton University Press
Published: 2019-04-02
Total Pages: 236
ISBN-13: 0691191859
DOWNLOAD EBOOKAn in-depth look at how to account for the human complexities at the heart of today’s financial system Our economy may have recovered from the Great Recession—but not our economics. The End of Theory discusses why the human condition and the radical uncertainty of our world renders the standard economic model—and the theory behind it—useless for dealing with financial crises. What model should replace it? None. At least not any version we’ve been using for the past two hundred years. Richard Bookstaber argues for a new approach called agent-based economics, one that takes as a starting point the fact that we are humans, not the optimizing automatons that standard economics assumes we are. Sweeping aside the historic failure of twentieth-century economics, The End of Theory offers a novel perspective and more realistic framework to help prevent today's financial system from blowing up again.
Download or read book The End of Theory written by Richard Bookstaber and published by Princeton University Press. This book was released on 2019-04-02 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: An in-depth look at how to account for the human complexities at the heart of today’s financial system Our economy may have recovered from the Great Recession—but not our economics. The End of Theory discusses why the human condition and the radical uncertainty of our world renders the standard economic model—and the theory behind it—useless for dealing with financial crises. What model should replace it? None. At least not any version we’ve been using for the past two hundred years. Richard Bookstaber argues for a new approach called agent-based economics, one that takes as a starting point the fact that we are humans, not the optimizing automatons that standard economics assumes we are. Sweeping aside the historic failure of twentieth-century economics, The End of Theory offers a novel perspective and more realistic framework to help prevent today's financial system from blowing up again.
