Dissent on Keynes: A Critical Appraisal of Keynesian Economics

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Keynesian economics is not dead but is alive and kicking in the US and elsewhere. However, Keynesian economics has caused the US and other countries under its influence to suffer inflation, economic instability, excessive debt, over-consumption, and under-investment on a serious scale. Meanwhile, many Far Eastern and European countries have rejected Keynesian-style economics and are rapidly surpassing the US in economic growth. This edited volume is the first modern work to attack Keynesian economic theory, which is at the root of many of the United States' economic problems. "Dissent on Keynes" contributors analyze the main tenets of Keynesianism - the multiplier and accelerator, the Phillips curve, the paradox of thrift, Keynesian development theory, progressive taxation deficit spending and countercyclical demand policy, and post-Keynesianism. They demonstrate that it represents not only bad economic policy but bad economic theory, fraught with fallacies and errors. The work also offers a revisionist view of Keynes, the man, both as an economist and an investor.

Author Bio

MARK SKOUSEN is Adjunct Professor of Economics and Finance at Rollins College in Florida and editor of Forecasts and Strategies, an investment newsletter. Dr. Skousen is the author of several books, including The Complete Guide to Financial Privacy (1983), The Structure of Production (1990), and Economics on Trial (1991).