O livro a ler: "The Failure of the "New Economics - An Analysis of the Keynesian Fallacies", Henry Hazlitt

Publicado em 1959 no pico da influência académica keynesiana, afinal a década de de alta inflação e alto desemprego estava ainda para acontecer.

Hoje em dia parece em voga algo tímida e disfarçada novamente. Como se esta crise fosse diferente de todas as outras anteriores. O que esta crise pode conduzir é a um novo salto para a frente, o sonho keynesiano de uma moeda única mundial (ou vá lá, por enquanto de proto-moeda mundial... começa com a coordenação, etc e tal, até...).

No Foreword por Murray N. Rothbard:

"Keynes' General Theory is here riddled chapter by chapter, line by line, with due account taken of the latest theoretical developments. The complete refutation of a vast network of fallacy can only be accomplished by someone thoroughly grounded in a sound positive theory. Henry Hazlitt has that groundwork.

An "Austrian" follower of Ludwig von Mises, he is uniquely qualified for this task, and performs it surpassingly well. It is no exaggeration to say that this is by far the best book on economics published since Mises' great Human Action in 1949. Mises' work set forth the completed structure of the modern "Austrian" theory. Hazlitt's fine critique of Keynes, based on these principles, is a worthy complement to Human Action. "

Em pdf.

Por aqui (mais abaixo), pode-se ver por onde passa este livro detalhado. Devo dizer que vou a metade e nota-se que Hazlitt que tem uma personalidade tranquila e serena (ao contrário de um Rothbard por exemplo) não escapa a não conseguir esconder a total irritação por serem tão claras não só as falácias como também a completa confusão conseguida por Keynes no uso de termos e definições ao longo do seu "tratado". Até eu fico irritado (também não era difícil no meu caso....)!

Table Of ContentsChapter PageAcknowledgments VI. Introduction 11. Canonization 12. Uses Of Refutation 43. A Path-Breaking Pioneer? 64. The " General" Theory 9Ii. Postulates Of Keynesian Economics 131. What Is The Classsical Theory Of Employment? 132. Wage-Rates And Unemployment 173. No "General Level" Of Wage-Rates 254. "Non-Euclidean" Economics 29Iii. Keynes Vs. Say's Law 321. Keynes's "Greatest Achievement" 322. Ricardo's Statement 363. The Answer Of Haberler 404. To Save Is To Spend 42Iv. Overture 441. Effective Demand 442. The Propensity To Consume 493. Derision Of Thrift 54V. "Labor Units" And "Wage Units" 60Vi. The Role Of Expectations 66Vii. "Statics" Vs. "Dynamics" 69Appendix On "User Cost" 75Viii. Income, Saving, And Investment 781. Confusing Definitions 782. Why "Saving" Equals "Investment" 813. Saving As The Villain 854. Keynesian Paradoxes 895. Can Savings Be Printed? 93Ix. "The Propensity To Consume": I 981. Digression On Mathematical Economics 982. The "Fundamental Psychological Law" 1063. Ambiguity Of The "Consumption Function" 1154. The Meaning Of "Saving" 1205. The Sinking-Fund Bogey 1236. In A Nutshell 127X. "The Propensity To Consume": Ii 1281. Reasons For Not Spending 1282. The Fear Of Thrift 131Xl "The Multiplier" 1351. The Magic Of It 1352. Not Fixed Or Predictable 1383. "Saving" And "Investment" Again 1424. "Investment" Means Government Spending 1485. Paradox And Pyramids 152Xii. "The Marginal Efficiency Of Capital" 1561. Slippery Terms 1562. Interest Rates Embody Expectations 1583. Effects Of Expected Inflation 1624. Does Lending Double The Risk? 1655. Confusions About "Statics" And "Dynamics" 168Xiii. Expectations And Speculation 1711. The State Of Confidence 1712. Fictions About The Stock Market 1723. Gambling, Speculation, Enterprise 179Xiv. "Liquidity Preference" 1861. No "Liquidity" Without Saving 1862. Money Is A Productive Asset 1893. Interest Is Not Purely Monetary 193Xv. The Theory Of Interest 1971. An "Unsettled Problem" 1972. Productivity Theories 1983. Time-Preference Theories 2024. Combined Interest Theories 2065. Real Plus Monetary Factors 212Xvi. Confusions About Capital 2171. On Going Without Dinner 2172. Saving, Investment, And Money Supply 2243. Roundabout Production 2294. Abundance Unlimited 231Xvii. "Own Rates Of Interest" 2361. Speculative Anticipations Are Not "Interest" 2362. Impossible Miracles 2413. Ought Wages To Be Rigid? 2434. We Owe Our Lives To Saving 2445. Keynes Vs. Wicksell 2486. "Equilibrium" Of An Ice Cube 250Xviii. The General Theory Restated 2531. Economic Interrelationships 2532. "Stable" Unemployment 2573. The Demand For Labor Is Elastic 2594. Stabilize Wage-Rates—Or Employment? 261Xix. Unemployment And Wage-Rates 2631. Unemployment Is Caused By Excessive Wage-Rates 2632. Wage-Rates Are Not Wage-Income 2673. "Elasticity" Of Demand For Labor 2694. Fallacies Of "Aggregative" Economics 2735. The Attack On Flexible Wage-Rates 2766. Inflation Vs. Piecemeal Adjustment 2797. A Class Theory Of Unemployment 286Xx. Employment, Money, And Prices 2881. An Unproved "Functional" Relationship 2882. General Value Theory Vs. Monetary Theory 291Xxi. Prices And Money 2961. "Costs" Are Prices 2962. The Positive Theory Of Money 2993. What Theory Of Prices? 3014. Another Digression On "Mathematical" Economics 3055. "Elasticity" Of Demand And Supply Cannot Be Measured 3096. Sacrosanct Wage-Rates, Sinful Interest Rates 3127. Monetary Inflation Preferred To Wage Adjustment 3148. Those Arbitrary Moneylenders 316Xxii. The "Trade Cycle" 3191. A "Sudden Collapse" Of The"Marginal Efficiency Of Capital"? 3192. When Governments ControlInvestment 3223. The Life Of Durable Assets 3264. A Policy Of Perpetual Inflation 3295. More Carts Before Horses 3326. Sun-Spots Before The Eyes 333Xxiii. Return To Mercantilism? 3371. "Let Goods Be Homespun" 3372. Running Comment On Running Comments 3403. Wise Mercantilists, Stupid Economists 3424. The Religion Of Governmental Controls 3475. Canonization Of The Cranks 3526. Mandeville, Malthus, And The Misers 3557. The Contribution Of Mill 3618. J. A. Hobson And Major Douglas 371Xxiv. Keynes Lets Himself Go 3741. Inequalities Of Income 3742. The Euthanasia Of The Rentier 3763. Robbing The Productive 3804. The Socialization Of Investment 3855. The "Economic Causes Of War" 3906. The Power Of Ideas 391Xxv. Did Keynes Recant? 3931. "The Classical Medicine" 3932. The Underlying Contradictions 395Xxvi. "Full Employment" As The Goal 3991. Is It Definable? 3992. Is It Attainable? 4053. Is It Unconditionally Desirable? 406Xxvii. "The National Income Approach" 4091. Is National Income Determinate? 4092. Its Dangers For Policy 415Xxviii. The Keynesian Policies 4211. Do Deficits Cure Unemployment? 4212. Does Cheap Money Cure Unemployment? 4223. Race With The Printing Press 425Xxix. Summary 427A Note On Books 437Appendix A-The 1919 Prophecies 440Appendix B 445Appendix C 447Appendix D 448Index 451 paperbackISBN 978-1-933550-11-4 paperback