The Critics Of Keynesian Economics (1960)

The Critics of Keynesian Economics, written by Henry Hazlitt in 1960, is a critical analysis of the Keynesian economic theory. Hazlitt, a prominent economist and journalist, argues that the Keynesian approach to economics, which emphasizes government intervention and spending to stimulate the economy, is flawed and ultimately ineffective.In the book, Hazlitt examines the key tenets of Keynesian economics, including the concept of aggregate demand, the multiplier effect, and the role of government in managing the economy. He critiques each of these ideas, pointing out their logical inconsistencies and practical limitations.Hazlitt also takes aim at the Keynesian policy prescriptions of his day, such as deficit spending and monetary expansion. He argues that these policies not only fail to achieve their intended goals but also lead to unintended consequences such as inflation and economic instability.Throughout the book, Hazlitt makes a compelling case for a more free-market approach to economics, one that emphasizes individual choice and entrepreneurship rather than government intervention. He shows how this approach has historically led to greater prosperity and economic growth, and argues that it is the only sustainable path forward for modern economies.Overall, The Critics of Keynesian Economics is a thought-provoking and insightful critique of one of the most influential economic theories of the 20th century. It remains a must-read for anyone interested in understanding the ongoing debate between free-market and interventionist economic policies.This scarce antiquarian book is a facsimile reprint of the old original and may contain some imperfections such as library marks and notations. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions, that are true to their original work.