The Failure of the New Economics

The Failure of the New Economics

Author: Henry Hazlitt

Publisher: Ludwig von Mises Institute

ISBN: 9781610164504

Category: Economics

Page: 458

View: 857

The distinguished economic journalist refutes the theorems found in Keynes' General Theory of Employment, Interest, and Money and cites briefly the contradictions and dangers of his national income approach.
Categories: Economics

The Failure of the New Economics An Analysis of the Keynesian Fallacies

The Failure of the  New Economics   An Analysis of the Keynesian Fallacies

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.

Author: Henry Hazlitt

Publisher: Pickle Partners Publishing

ISBN: 9781786258632

Category: Business & Economics

Page: 378

View: 938

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
Categories: Business & Economics

The New Economics of Inequality and Redistribution

The New Economics of Inequality and Redistribution

Similarly (as we will see in the next chapter], some would-be borrowers will be
excluded from the credit market entirely, ... The extent of co-ordination failures
depends on what may be termed the structure of economic governance: the rules
of ...

Author: Samuel Bowles

Publisher: Cambridge University Press

ISBN: 9781139536561

Category: Business & Economics

Page:

View: 735

Economists warn that policies to level the economic playing field come with a hefty price tag. But this so-called 'equality-efficiency trade-off' has proven difficult to document. The data suggest, instead, that the extraordinary levels of economic inequality now experienced in many economies are detrimental to the economy. Moreover, recent economic experiments and other evidence confirm that most citizens are committed to fairness and are willing to sacrifice to help those less fortunate than themselves. Incorporating the latest results from behavioral economics and the new microeconomics of credit and labor markets, Bowles shows that escalating economic disparity is not the unavoidable price of progress. Rather it is policy choice - often a very costly one. Here drawing on his experience both as a policy advisor and an academic economist, he offers an alternative direction, a novel and optimistic account of a more just and better working economy.
Categories: Business & Economics

New Economic Policy

New Economic Policy

POLICY FOR STRUCTURAL REFORMS : AN ANALYSIS OF ITS IMPLICATIONS
TO INDIA'S ECONOMIC DEVELOPMENT Arbind Prasad The New Economic
Policy since its initiation with the announcements of liberalisation measures in ...

Author: Siddheswar Prasad

Publisher: Mittal Publications

ISBN: 8170995302

Category: Bihar (India)

Page: 294

View: 497

Papers presented at the National Seminar on "New Economic Policy: Perspective and Issues" held at the A.N. Sinha Institute of Social Studies, Patna, October 23-24, 1992.
Categories: Bihar (India)

The New Economics

The New Economics

It is also a critique of public services, explaining why they fail to make sustainable
change in individuals or neighbourhoods, and why there remains so much ill
health, school failure and collapsing social fabric. It offers an approach that goes
 ...

Author: David Boyle

Publisher: Earthscan

ISBN: 9781849770248

Category: Business & Economics

Page: 208

View: 855

Economics sometimes seems to be stacked against social, environmental and individual well-being. But it doesn't have to be like this. A new approach to economics - deriving as much from Ruskin and Schumacher as from Keynes or Smith - has begun to emerge. Skeptical about money as a measure of success, this new economics turns our assumptions about wealth and poverty upside down. It shows us that real wealth can be measured by increased well-being and environmental sustainability rather than just having and consuming more things. This book is the first accessible and straightforward guide to the new economics. It describes the problems and bizarre contradictions in conventional economics as well as the principles of the emerging new economics, and it tells the real-world stories of how new economics is being successfully put into practice around the world. An essential guide to understanding new economics for all those who care about making economics work for people and planet.
Categories: Business & Economics

The New Economics of Sovereign Wealth Funds

The New Economics of Sovereign Wealth Funds

... The failure of selfregulation Poorrisk management practices bybanksand
insurancesalongwith distorted incentive structures for executive compensation,
shortcomings in disclosure, fundamentalfaultsinthe practiceofthe
originatetodistribute ...

Author: Massimiliano Castelli

Publisher: John Wiley & Sons

ISBN: 9781119973454

Category: Business & Economics

Page: 232

View: 825

A complete guide to sovereign wealth funds written by and for industry practitioners Sovereign wealth funds (SWFs) aren't new, but they are often misunderstood. As they've attracted more attention over the last decade and grown greatly in size, the need for a new and thorough resource on SWFs has never been greater. These funds will only grow more important over the coming years. In this book, expert authors who work in the industry present a comprehensive look at SWFs from the perspective of western investors.
Categories: Business & Economics

Toward a New Economics

Toward a New Economics

It was that arrangement more than any other feature that defined the new
international order, and especially the pivotal role ... was the failure of the system
to give any special consideration to the needs of developing nations — those
countries ...

Author: Alfred S. Eichner

Publisher: M.E. Sharpe

ISBN: 0873323270

Category: Business & Economics

Page: 240

View: 893

Presents the body of Post-Keynesian theory as an integrated whole, demonstrating that it is just as comprehensive and coherent as the neoclassical synthesis.
Categories: Business & Economics

The President s New Economic Program

The President s New Economic Program

Hearings, Ninety-second Congress, First Session United States. Congress. Joint
Economic Committee. 66 * * * On page 190 : " Finally , it must be reiterated that
collective bargaining within an industry over the division of the proceeds between
 ...

Author: United States. Congress. Joint Economic Committee

Publisher:

ISBN: MINN:31951D035849747

Category: United States

Page: 782

View: 735

Categories: United States

The New Economic Diplomacy

The New Economic Diplomacy

Decision-Making and Negotiation in International Economic Relations Dr
Stephen Woolcock, Sir Nicholas Bayne. Chapter 13 The OECD: ... It will be seen
that the notions of 'success' and 'failure' need some qualification. The Conceptual
 ...

Author: Dr Stephen Woolcock

Publisher: Ashgate Publishing, Ltd.

ISBN: 9781409476481

Category: Political Science

Page: 450

View: 884

This third, fully updated edition of The New Economic Diplomacy explains how states conduct their external economic relations in the 21st century: how they make decisions domestically; how they negotiate internationally; and how these processes interact. It documents the transformation of economic diplomacy in the 1990s and 2000s in response to the end of the Cold War, the advance of globalization and the growing influence of non-state actors such as private business and civil society.
Categories: Political Science

A New Economic History of Argentina

A New Economic History of Argentina

In the wake of the East Asian financial crisis of 1 997-98, however, economists
and policymakers have been questioning the value of the unhindered flow of
international finance. In particular, some have argued that such financial flows
can ...

Author: Gerardo della Paolera

Publisher: Cambridge University Press

ISBN: 0521822475

Category: Business & Economics

Page: 397

View: 138

A 2004 reference for those seeking a more quantitative understanding of Argentina's development.
Categories: Business & Economics

New Economic Order and International Development Law

New Economic Order and International Development Law

THE problem of trade relations between countries with different economic and
social systems was first dealt with in the ... since one of the problems arising out
of the cold war had been trade discrimination and the failure by the members of
the ...

Author: Oswaldo De Rivero B.

Publisher: Elsevier

ISBN: 9781483154435

Category: Law

Page: 152

View: 651

New Economic Order and International Development Law focuses on the legal doctrines for controlling the relations between the economies of the South and the North. The manuscript first offers information on the crisis of the international economic order as a factor in the establishment of international development law, including the rejection of the classical theory of international trade by developing countries and the formulation of a set of special rules for developing countries. The book also takes a look at the removal of economic reciprocity and adoption of unilateral commercial obligations in favor of developing countries and suspension of the most-favored-nation clause and trade preferences in favor of developing countries. The publication elaborates on the acceptance of the clause of ""non-reciprocity"" in trade negotiations between developed and developing countries and clauses in favor of economic and social development in commodity agreements. The text also ponders on the establishment of machinery for solving trade disputes between developed and developing countries; trade and co-operation agreements between socialist and developing countries; and rules relating to private foreign investment. The manuscript is a vital reference for readers and economists interested in international development law and economic order.
Categories: Law

Lessons from the Failure of the Communist Economic System

Lessons from the Failure of the Communist Economic System

Many of the new economic policy makers had had the opportunity to prepare
themselves for this task under communism. With this aim they studied the
textbooks and other theoretical economic literature from highly developed
capitalist ...

Author: Ladislav Rusmich

Publisher: Lexington Books

ISBN: 0739108468

Category: Business & Economics

Page: 380

View: 578

The authors offer a comprehensive and critical study that examines why neoliberal economic programs have experienced unexpected difficulties in Eastern Europe.
Categories: Business & Economics

Foundations for New Economic Thinking

Foundations for New Economic Thinking

Butit was difficult forsucha distinction tomake sensein a general
equilibriumframework inwhich coordination failurein any market
meanscoordination failure inatleast one other market. In fact,particularly in
applied mainstream economics, ...

Author: S. Dow

Publisher: Springer

ISBN: 9781137000729

Category: Political Science

Page: 263

View: 712

New economic thinking is in demand in the light of the recent economic crisis. This book equips the reader with a better understanding of current ways of thinking as well as an awareness of other possibilities, providing the foundations for debate in theory and methodology alongside practical implications for policy.
Categories: Political Science

The Failure of Laissez Faire Capitalism and Economic Dissolution of the West

The Failure of Laissez Faire Capitalism and Economic Dissolution of the West

Towards a New Economics for a Full World Paul Craig Roberts. Maruschzik:
Critique of the growth model Paul Craig Roberts sold supply-side economics to
the U.S. Congress and to President Reagan as the way to overcome stagflation ...

Author: Paul Craig Roberts

Publisher: Atwell Publishing

ISBN: 9780988406513

Category:

Page:

View: 473

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.
Categories:

The Concise Guide to Economics

The Concise Guide to Economics

Fundamentally, the multiplier is theory run amok, as Henry Hazlitt has explained
in The Failure of the New Economics: If a community's income, by definition, is
equal to what it con- sumes plus what it invests, and if that community spends ...

Author: Jim Cox

Publisher: Ludwig von Mises Institute

ISBN: 9781933550152

Category: Business & Economics

Page: 136

View: 786

To understand economics is to understand the practical case for freedom. The great merit of this book is to bring out the connection in the clearest and shortest possible way. The Concise Guide To Economicsis a handy, quick reference guide for those already familiar with basic economics, and a brief, compelling primer for everyone else. Professor Jim Cox introduces topics ranging from entrepreneurship, wages, money, trade, and inflation to the consequences of price controls and anti-price gouging laws. If it were read alongside the daily newspaper, it would undermine most all the fallacies that appear nearly every day. Along the way, he defends the crucial role of advertising, speculators, and heroic insider traders. Thus does the book combines straightforward, common sense analysis with hard-core dedication to principle, using the fewest words possible to explain the topic clearly. And each brief chapter includes references to further reading so those who are curious to dig deeper will know where to look next. The popularity of this book has been growing for several years. A website dedicated to itis already very popular. One organization dedicated to public activism buys it by the hundreds, viewing it as the shortest and best way to counter economic fallacy. The Concise Guide makes a great gift to those who have never thought about the workings of economic logic, and thereby misunderstand the case for free-market capitalism. From the Introduction by Llewellyn H. Rockwell, Jr.: "The beauty of Cox's book comes from both its clear exposition and its brevity. He offers only a few paragraphs on each topic but that is enough for people see both error and truth. Sometimes just mapping out the logic beyond the gut reaction is enough to highlight an economic truth. He does this for nearly all the topics that confront us daily. "Many people only have a moment. That's why the guide is essential. It is probably the shortest and soundest guide to economic logic in print. May it be burned into the consciousness of every citizen now and in the future."
Categories: Business & Economics

The New Economics of Human Behaviour

The New Economics of Human Behaviour

Chairman Department of Economics Mariano Tommasi, Mariano Tommasi,
Kathryn Ierulli, Gary Becker. 2 The economic analysis of immigration George J.
Borjas 1 Introduction The 1980s were turbulent years in the history of immigration
to the ...

Author: Chairman Department of Economics Mariano Tommasi

Publisher: Cambridge University Press

ISBN: 0521479495

Category: Business & Economics

Page: 238

View: 333

This 1995 volume demonstrates the application of Beckerian theory upon a wide range of social and political activity.
Categories: Business & Economics

The Critics of Keynesian Economics

The Critics of Keynesian Economics

I. Introduction1 In the course of writing my book, The Failure of the "New
Economics" : An Analysis of the Keynesian Fallacies, I naturally read a good deal
not only of the works of Keynes and the Keynesians but of the writers who had
criticized ...

Author: Henry Hazlitt

Publisher: Ludwig von Mises Institute

ISBN: 9781610165174

Category: Economics

Page: 427

View: 568

Categories: Economics

The New Economics of Technology Policy

The New Economics of Technology Policy

In his contribution in chapter 12, David Mowery has answered the provocative
question of what economic theory has to tell us ... Yet, as Mowery observes, on
those occasions when a rationale is offered it is likely to be one of market failure,
 ...

Author: Dominique Foray

Publisher: Edward Elgar Publishing

ISBN: 9781848449169

Category: Technology & Engineering

Page: 443

View: 212

This innovative book comprehensively sheds light on the theory and practice of technological policies by employing modern analytical tools and economic techniques. The New Economics of Technology Policy focuses on all public interventions intended to influence the intensity, composition and direction of technological innovations within a given entity such as a region, country or group of countries. Dominique Foray has gathered together many of the leading scholars in the field to comprehensively explore numerous avenues and pathways of research. Bringing together a collection of policy-oriented papers, this book will strongly appeal to policy-makers, academic researchers and graduate students with an interest in economics, public policy, science, technology and society.
Categories: Technology & Engineering

Globalization Economic Growth and Innovation Dynamics

Globalization  Economic Growth and Innovation Dynamics

The theoretical justification for high technology policy stems from the observation
by Kenneth Arrow (1962) that economic activity based on new knowledge suffers
from an inherent market failure. High technology, by definition, involves the ...

Author: Paul J.J. Welfens

Publisher: Springer Science & Business Media

ISBN: 3540658580

Category: Business & Economics

Page: 198

View: 744

In the new global economy, more countries have opened up to international competition and rapid capital flows. However, in the triad the process of globalization is rather asymmetric. With a rising role of multinational companies there are favorable prospects for higher global growth and economic catching-up, respectively. Theoretical analysis suggests key ingredients of sustained growth, but there is also a new concept of a long-term equilibrium income gap in which convergence is rather unlikely. The analysis also picks up European and US labor market issues in the context of economic globalization and raises the question of which EU policies in the field of labor market reform and of innovation policies are adequate.
Categories: Business & Economics

A New Economic Policy for Britain

A New Economic Policy for Britain

2 P . A . Geroski Encouraging investment in science and technology Introduction
Industrial policy under Mrs Thatcher ' s Tory government has been surprisingly
consistent in its failure to address the real problems facing UK manufacturing ...

Author: Keith Cowling

Publisher: Manchester University Press

ISBN: 0719032717

Category: Great Britain

Page: 217

View: 951

A non-technical analysis of the sort of economic and industrial policies the Industrial Strategy Group believes Britain needs if its industry is to thrive in the 1990s. It is intended also as a contribution to the debate on the future economic and industrial policies to be adopted by the Left.
Categories: Great Britain