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 Keynesian economic theory, which has gained popularity since the Great Depression. Hazlitt argues that the Keynesian theory, which emphasizes government intervention and spending, is flawed and will lead to economic instability and inflation. Hazlitt provides a detailed analysis of the Keynesian theory, pointing out its fallacies and inconsistencies. He argues that government spending does not stimulate economic growth, but rather leads to inflation and a misallocation of resources. Hazlitt also criticizes the Keynesian focus on aggregate demand, arguing that it ignores the importance of individual preferences and the role of prices in the economy. The book is divided into several chapters, each focusing on a different aspect of the Keynesian theory. Hazlitt provides numerous examples and data to support his arguments, making the book a comprehensive and persuasive critique of the Keynesian approach to economics. Overall, The Failure Of The New Economics is a classic work of economic analysis that continues to be relevant today. Hazlitt's critique of the Keynesian theory remains influential, and the book is essential reading for anyone interested in understanding the debates and controversies surrounding economic policy.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.