Author: Henry Hazlitt
Publisher: Ludwig von Mises Institute
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.
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
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
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.
Author: Paul Craig Roberts
Publisher: Atwell Publishing
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.
Bartlett makes a compelling, historically-based case for large tax increases, once anathema to him and his economic allies. In The New American Economy, Bartlett seeks to clarify a compelling and way forward for the American economy.
Author: Bruce Bartlett
Publisher: St. Martin's Press
As a domestic policy advisor to Ronald Reagan, Bruce Bartlett was one of the originators of Reaganomics, the supply-side economic theory that conservatives have clung to for decades. In The New American Economy, Bartlett goes back to the economic roots that made Impostor a bestseller and abandons the conservative dogma in favor of a policy strongly based on what's worked in the past. Marshalling compelling history and economics, he explains how economic theories that may be perfectly valid at one moment in time under one set of circumstances tend to lose validity over time because they are misapplied under different circumstances. Bartlett makes a compelling, historically-based case for large tax increases, once anathema to him and his economic allies. In The New American Economy, Bartlett seeks to clarify a compelling and way forward for the American economy.
He outlines an agenda to create a new economy-- locally based, community oriented, and devoted to creating a better life for all, not simply increasing profits.
Author: David C. Korten
Publisher: Berrett-Koehler Publishers
Today's economic crisis is the worst since the Great Depression. However, as David Korten shows, the steps being taken to address it do nothing to deal with the reality of a failed economic system. It's like treating cancer with a bandage. Korten identifies the deeper sources of the failure: Wall Street institutions that have perfected the art of creating "wealth" without producing anything of real value: phantom wealth. Our hope lies not with Wall Street, Korten argues, but with Main Street, which creates real wealth from real resources to meet real needs. He outlines an agenda to create a new economy-- locally based, community oriented, and devoted to creating a better life for all, not simply increasing profits. It will require changes to how we measure economic success, organize our financial system, even the very way we create money, an agenda Korten summarizes in his version of the economic address to the nation he wishes Barack Obama were able to deliver.
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
Author: Samuel Bowles
Publisher: Cambridge University Press
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.
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
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.
Margaret M. Polski I can 't understand why people are frightened by new ideas. I'
m frightened by old ones. John Cage 1. Introduction Like Cage, economists are
inclined to attribute the failure to embrace new ideas to irrational fear. Standard ...
Author: Paul J.J. Welfens
Publisher: Springer Science & Business Media
There are many issues relating to the new economy in Europe and the USA that are unexplored. Here, the authors present innovative theoretical and empirical analysis on Internet dynamics, productivity growth and organizational changes in selected OECD countries. New empirical findings related to telecommunications, Internet and growth also are presented. Based on the theoretical and empirical analyses, various policy options are developed. Policy measures, both at the regional and national levels, can stimulate structural change, knowledge diffusion and economic growth. Different governance strategies for the Internet and e-commerce are identified from a global perspective.
... The failure of selfregulation Poorrisk management practices bybanksand
insurancesalongwith distorted incentive structures for executive compensation,
shortcomings in disclosure, fundamentalfaultsinthe practiceofthe
Author: Massimiliano Castelli
Publisher: John Wiley & Sons
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.
In this major reexamination of the southern industrial economy and its failure to progress during the antebellum period, the authors show that slavery and its consequences were not alone in inhibiting industrialization.
Author: Fred Bateman
Publisher: UNC Press Books
In this major reexamination of the southern industrial economy and its failure to progress during the antebellum period, the authors show that slavery and its consequences were not alone in inhibiting industrialization. They argue, rather, that the plante
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
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.
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
Author: Alfred S. Eichner
Publisher: M.E. Sharpe
Presents the body of Post-Keynesian theory as an integrated whole, demonstrating that it is just as comprehensive and coherent as the neoclassical synthesis.
... your brain may start to scream as you implement Deming's management
approach because Dr. Deming's approach does not have the comfort of being
familiar to you—at least not yet. With time and practice, it will. Avoid the failure
Author: W. Edwards Deming
Publisher: MIT Press
A new edition of a book that details the system of transformation underlying the 14 Points for Management presented in Deming's Out of the Crisis. It would be better if everyone would work together as a system, with the aim for everybody to win. What we need is cooperation and transformation to a new style of management.” —from The New Economics for Industry, Government, Education In this book, W. Edwards Deming details the system of transformation that underlies the 14 Points for Management presented in Out of the Crisis. The Deming System of Profound Knowledge, as it is called, consists of four parts: appreciation for a system, knowledge about variation, theory of knowledge, and psychology. Describing the prevailing management style as a prison, Deming shows applying the System of Profound Knowledge increases productivity, quality, and people's joy in work and joy in learning. Another outcome is short-term and long-term success in the market. Indicative of Deming's philosophy is his advice to abolish performance reviews on the job, to look deeper than spreadsheets for opportunities, and even to rethink how we teach and manage our schools. Moreover, Deming's method enables organizations to make accurate predictions, which is a valuable tool in today's uncertain economic climate. This third edition features a new chapter (written by business consultant and Deming expert Kelly L. Allan) that explains the relevance of Deming's management method, and case studies from organizations that have adopted Deming's System of Profound Knowledge, and offers guidance on how organizations can effectively “do Deming.”
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.
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.
Ireland: A New Economic History offers a fresh, comprehensive economic history of Ireland between 1780 and 1939, which is mould-breaking in its methodology and unparalleled in its broad scope and comparative focus.
Author: Cormac OGráda
Publisher: Oxford University Press
Ireland: A New Economic History offers a fresh, comprehensive economic history of Ireland between 1780 and 1939, which is mould-breaking in its methodology and unparalleled in its broad scope and comparative focus. Cormac O Grada unites historical research and economic theory in an original and stimulating book which will be essential reading for all students of Irish history. Within a broadly chronological framework, Professor O Grada examines all the well-known puzzles of Irish economic history during this period - including the 'inevitability' of the famine, the role of land tenure in agricultural backwardness, and the 'failure' of the economy to industrialize. His account is both accessible, with technical discussion kept to a minimum, and intellectually exciting.
If the economy is in disequilibrium at the macroeconomic level, then no
presumption is admissible as to the equilibrium ... Coordination failure at the
macroeconomic (and thus, also, microeconomic) level was incorporated
intotheanalysis as a ...
Author: S. Dow
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.
Problems of definition The attempt to rigidly define peasant economic or class
differentiation in the Soviet countryside was a will—o'—the-wisp, which
consumed much effort on the part of the party in the course of the 1920s. It is fair
to say that ...
Author: James Hughes
Publisher: Cambridge University Press
This book makes an important contribution to the current re-evaluation of the origins of Stalinism. Hitherto, Western scholars have focused on leading personalities to analyze the crisis of the New Economic Policy. Dr. James Hughes, however, examines the processes at work under the NEP from the regional perspective of Siberia. He looks at party-peasant relations, the kulak question, Stalin's patron-client network in the provinces, the regional impact of the grain crisis of 1927-28 and the use of emergency measures to overcome it. He concludes that Stalin's experience of conditions that were unique to Siberia accelerated his negative reappraisal of the NEP and initiated the descent into the cataclysm of his "revolution from above" in late 1929.
A sociology of discontinuities and failures of new companies in the fields of
entertainment and technology in California* Gerhard Krauss Introduction The
second half of the nineties was characterized by a boom of start-up activity in
Author: Kurt Huebner
What’s left from the new economy? This book takes an unfashionable perspective and shows that despite all the mistaken ideas and exaggerations, the technological changes of the 1990s still have important effects today. Economic history shows that technological revolutions tend to generate deep economic and social crises before a temporary state of equilibrium is reached. The established modes of accumulations and regimes of regulation of national capitalisms and international capitalism have been undermined by the collapse of the high tech asset bubble. Financial markets are still in disarray. What can be observed, however, is that national economies are better positioned to tackle the crisis than others. Why is this? This and other important questions are tackled by an international team of contributors including Daniele Archibugi, Harald Hagemann, Bruno Amable, Martin Heidenreich and David Gibbs. This volume should be of great interest to all those working at the intersection of international politics and economics.
This innovative book comprehensively sheds light on the theory and practice of technological policies by employing modern analytical tools and economic techniques.
Author: Dominique Foray
Publisher: Edward Elgar Publishing
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.