By Mark Skousen
Keynesian economics isn't lifeless yet is alive and kicking within the U.S. and in other places. besides the fact that, Keynesian economics has prompted the U.S. and different nations below its impression to endure inflation, fiscal instability, over the top debt, overconsumption, and underinvestment on a major scale. in the meantime, many some distance jap and eu international locations have rejected Keynesian-style economics and are swiftly surpassing the U.S. in fiscal development. This edited quantity is the 1st and in simple terms glossy paintings to assault Keynesian financial idea, that is on the root of the various U.S. fiscal problems.
The participants of this quantity study the most tenets of Keynesianism--the multiplier and accelerator, the Phillips curve, the ambiguity of thrift, Keynesian improvement concept, revolutionary taxation, deficit spending and countercyclical call for coverage, and post-Keynesianism. They show that it represents not just undesirable fiscal coverage yet undesirable financial conception, fraught with fallacies and mistakes. The paintings additionally bargains a revisionist view of Keynes, the guy, either as an economist and an investor.
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