All Posts Tagged With: "new economics"
Henry Hazlitt and the Failure of Keynesian Economics
For four decades, from the mid-1930s to the 1970s, Keynesian economics almost monopolized economic policy in the United States and around the world. The “new economics,” as it was called, was going to assure mankind economic stability, full employment, and material prosperity—all through wise government management of monetary and fiscal policy. So dominant was this [...]
1Nov2004 | Richard M. Ebeling | 38 comments | ContinuedThe Failure of the New Economics
Dr. Peterson is Distinguished Lundy Professor of Business Philosophy Emeritus at Campbell University, North Carolina. In the beginning was Say’s Law—supply creates demand. But that was the “old economics.” Now, glory be, we’re blessed with the “New Economics”—demand creates supply—thanks to the “new” dazzling 1936 paradigm of The General Theory of Employment, Interest and Money [...]
1May1996 | William H. Peterson | 0 comments | Continued-
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