The Failure Of The New Economics

The Failure Of The New Economics: An Analysis Of The Keynesian Fallacies is a book written by Henry Hazlitt and published in 1959. The book is a critique of the economic theories of John Maynard Keynes, who is considered one of the most influential economists of the 20th century. Hazlitt argues that Keynesian economics, which emphasizes the role of government intervention in the economy, is flawed and has led to economic instability and inflation.In the book, Hazlitt provides a detailed analysis of Keynesian economics, including its assumptions, concepts, and policy recommendations. He argues that the Keynesian model is based on faulty assumptions about the behavior of individuals and the economy as a whole. For example, he criticizes Keynes for assuming that individuals are irrational and that government intervention can correct market failures.Hazlitt also argues that Keynesian policies, such as deficit spending and monetary expansion, have led to inflation and economic instability. He provides historical examples, such as the inflationary policies of the Weimar Republic in Germany in the 1920s and the stagflation of the 1970s, to support his argument.Overall, The Failure Of The New Economics is a comprehensive critique of Keynesian economics and a defense of free-market principles. Hazlitt argues that the government should not interfere in the economy and that market forces should be allowed to operate freely. The book remains a classic in the field of economics and is still widely read and debated today.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.