The Failure Of The New Economics

The Failure of the New Economics: An Analysis of the Keynesian Fallacies is a book written by Henry Hazlitt in 1959. The book is a critique of the economic theories of John Maynard Keynes and his followers, who believed that government intervention in the economy was necessary to achieve full employment and economic growth.Hazlitt argues that Keynesian economics is flawed because it relies on faulty assumptions about the nature of the economy and the role of government. He contends that Keynesian policies, such as deficit spending and monetary expansion, are ineffective at achieving their stated goals and can actually do more harm than good in the long run.The book is divided into three parts. The first part provides an overview of Keynesian economics and its basic principles. The second part examines the flaws in Keynesian theory and the fallacies that underlie it. The third part offers an alternative approach to economics based on the principles of classical liberalism and free-market capitalism.Overall, The Failure of the New Economics is a comprehensive critique of Keynesian economics and a defense of free-market capitalism. Hazlitt's arguments are well-reasoned and supported by extensive research and analysis, making it a valuable resource for anyone interested in economics and public policy.This scarce antiquarian book is a facsimile reprint of the old original and may contain some imperfections such as library marks and notations. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions, that are true to their original work.