By Henry Hazlitt
Top economists discover the fallacies and implications of Keynesian thought.
Read or Download The Critics of Keynesian Economics PDF
Similar other social sciences books
Schelling's masterpiece investigating evil and freedom.
El avance del saber, en los angeles medida en que es l. a. quintaesencia del pensamiento baconiano en el período de formación del autor, sintetiza admirablemente las líneas maestras de éste y exhibe ya muchos de los rasgos característicos de su obra de madurez. Gracias a su striking difusión (conoció incluso una versión francesa en 1624), realzada por los angeles ulterior revisión del tema en De augmentis, los proyectos del Canciller fueron bien conocidos y no sintió l. a. necesidad de dar a l. a. luz ningún otro de los borradores que a los angeles sazón redactara, reservándose para su obra magna, los angeles gran restauración.
- Sociologjia e iben Haldunit
- Which Way Western Man?
- La philosophie des mathématiques de Kant (French Edition)
- Acht Philosophen Der Italienischen Renaissance
- L'être-temps: Quelques réflexions sur le temps de la conscience (Perspectives critiques) (French Edition)
Additional info for The Critics of Keynesian Economics
The materials, tools, and subsistence necessary for the increased production now required of them, and articles of foreign luxury for their own increased unproductive consumption. These articles would not displace any formerly made in the place, but on the contrary, would forward the production of more. Hence we may consider the following propositions as established: 1. ): for almost every country habitually exports and imports to a much greater value than the incomes of its absentees, or of the foreign sojourners within it.
For whatever takes place afterwards, with a view to the supply of his wants, is a mere exchange of equivalents; and it is impossible that a person should ever be enriched by merely receiving an equal value in exchange for an equal value. " They say, that the capital, which any person has chosen to produce and to accumulate, can always find employment, since the fact that he has accumulated it proves that he had an unsatisfied desire; and if he cannot find anything to produce for the wants of other consumers, he can for his own.
As will be seen later, it is excluded on the ground that resistance to reductions in money wage-rates generally does not involve a reduction in the volume of employment and is, if anything, favorable to employment rather than the reverse. The omission charged against the "classical" economists is their failure to note the lesser resistance of labor to reductions in real wages if unassociated with JACOB VINER 49 reductions in money wages per se, and their failure to recognize the existence of a large volume of unemployment for which the former is an available and practicable remedy, but not the latter.