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In this report Professor Samuelson staff prepares a tour of the work and thought of highlighting the contributions of Hayek Austrian economist and showing the world within which they took power broadly two contradictory paradigms of economic thought. This testimony intellectual frontline is...
Persistent link: https://www.econbiz.de/10013148972
Frédéric Bastiat (1801-1850) was an economist and journalist. A member of the French Liberal School, he is best known for his free trade ideas and his philosophy of law. Mark Blaug ranks him as one of the 100 greatest economists before Keynes. Schumpeter called him a brilliant economic...
Persistent link: https://www.econbiz.de/10013054150
recession. It is an application of the Keynesian multiplier theory, which was expounded in Keynes' 1936 economic treatise, The … General Theory of Employment, Interest and Money. Post-1936 economic history has given the multiplier theory mixed reviews … economist and journalist. He discussed the multiplier theory in the 1840s, more than a generation before John Maynard Keynes …
Persistent link: https://www.econbiz.de/10013054153
Frederic Bastiat (1801-1850) was a French economist and journalist. One of his classic works is The Candlemakers' Petition, which uses the reductio ad absurdum philosophical technique to dismantle the arguments the French protectionists put forth to protect French industry in the mid-nineteenth...
Persistent link: https://www.econbiz.de/10013054144
This paper provides an overview and discussion of the legal and economic philosophy of Frederic Bastiat (1801-1850), a French political economist. A bibliography with links to other Bastiat studies is also included
Persistent link: https://www.econbiz.de/10013054147
Friedrich August von Hayek suggested that price level stability might not be consistent with neutrality of money. In the economy with permanently increasing natural output, price level stabilization requires a steadily rising money supply. This permanent injection of liquidity might be the true...
Persistent link: https://www.econbiz.de/10012980707
The paper argues for three points. The first purpose of the paper is to show that Carl Menger would have rejected Ludwig von Mises’ methodological apriorism. Second, I argue that Carl Menger was a pluralist about the methods of theoretical economics and that Mises was rather less of a...
Persistent link: https://www.econbiz.de/10014264585
According to Austrian macroeconomic theory, capital accumulation today generates supply tomorrow. Will that supply …
Persistent link: https://www.econbiz.de/10014236621
Harding administration's fiscal policy. They also engage a caricatured version of Keynesian theory and policy, which ignores …
Persistent link: https://www.econbiz.de/10013144724
, since none of the new classical doctrines can be analyzed ignoring the parallelism and discrepancies with the theory of …, but the doctrines got vulgarized and distorted thanks to the mass of followers. Nowadays, economic theory and policy …
Persistent link: https://www.econbiz.de/10012969733