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Where Keynes Went Wrong
And Why World Governments Keep Creating Inflation, Bubbles, and Busts
By Hunter Lewis
Hardcover: $18.00 $16.20 (10% discount!) • Free Shipping • ISBN: 978-1-60419-017-5
Where Keynes Went Wrong is available from leading booksellers everywhere, or from Axios Press:
- What Keynes Really Said. (Much of Keynes's writing is obscure. It is important to go back to what Keynes actually said, not rely on legends that have grown up about what he said.)
- The Marriage of Wall Street and Washington. (This marriage, engineered by Alan Greenspan and Ben Bernanke, did not result from the Crash of 2008. It helped cause it.)
- Commonsense Economics. (What would this look like?)
- Alan Greenspan and Ben Bernanke. (Their role in bringing on the Crash of 2008 is little understood.)
- The relationship of the Dot-Com Bubble to the Housing Bubble to the Crash of 2008. (One led directly to the other through the actions of the U.S. Federal Reserve.)
- Keynes's Chief Critics among Non-Keynesian Economists. (Especially Friedrich Hayek and Ludwig von Mises.)
- Keynes Most Thorough Critic: Henry Hazlitt.
- Milton Friedman. (He shared some views with Keynes.)
- Gold. (Gold as money and also gold as investment.)
- Goldman Sachs. (Why does it often seem to control Washington?)
- Unemployment. (What really causes it.)
- The Great Inflation of the 1970s. (What caused that inflation and will it return?)
- Japan's Lost Decades. (Are we following in the Japanese footsteps and just put off an economic recovery by doing so?)
- The East Asian Recovery of the Late 1990s. (Should this be our model?)
- Keynes's Paradox of Thrift and What It Means for Economic Recovery Policies. (Why the Paradox of Thrift, like the other paradoxes in Keynes's General Theory, is wrong.)
- The Keynesian Multiplier. (Why the mulitplier doesn't work)
- Paul Krugman. (The most vocal Keynesian today.)
- Keynesian Economists. (Why the advice of Keynesian economists in the Crash of 2008 has been so vague.)
- Capitalism. (Its future after the Crash of 2008.)
- Regulators. (Were they asleep before the Crash of 2008? Or wide awake and making grievous errors such as "mark to market" rules?)
- Great Depression. (Keynes's explanation in the General Theory and elsewhere of what caused it, what really caused it, and what does it have to teach us now?)
- Prices and Profits. (How Keynesianism unintentionally subverts the price and profit system.)
- Honest Prices. (Why a market system cannot work without them.)
- Savings. (How Keynesianism punishes responsible savers.)
- Say's Law. (Did Keynes refute it as is commonly alleged by Keynesian ecomomists?—No)
- Economic Globalization, Gold, and Free Trade. (Why Keynes could never make up his mind. And how he despised gold, but nevertheless invested in it.)
- Government for Sale. (Is the aftermath of the Crash further corrupting our democracy?)
- Crony Capitalism. (How it works in China, Russia, and increasingly in America.)
- Economic Crashes. (What Keynes said about them in the General Theory and elsewhere. Their real cause.)
- Keynes's Personal Values. (And how they influence his economics.)
- Keynes's Personal Style. (Why it was so electifying.)
- Keynesian Economic Theory. (What Keynes "proved" and what he didn't.)
- Recessions. (Keynes wanted to abolish recessions—is this a good idea?)
- "Animal Spirits." (Why did Keynes think that "animal spirits" explained what happened in the private sector but not in government?)
- Bailouts. (Should the taxes of a schoolteacher be used to bailout bank bondholders? Why neither Keynes nor Keynesian economists have made a case for this.)
- Economic Bubbles. (Why Keynes did not disapprove of them.)
- Deficit Spending. (Do Keynes's arguments that we can borrow our way out of debt through deficit spending make sense?)
- Economic Recovery. (Why Keynes was wrong to think that we might not get an economic recovery without government intervention.)
- The U.S. Federal Reserve. (Its central role in economic bubbles and busts.)
- Keynesian Remedies in Brief. (Print money, control and reduce interest rates, bailout, and stimulate through government deficit spending. Note that the printing of money is why the price of gold has soared since Ben Bernanke joined the U.S. Federal Reserve Board.)
- Obamanomics. (Why this, like Bushonomics, is pure Keynesianism.)
- Savings Glut. (Do we have one as the Keynesian economists allege? If so, are Keynesian economists right that printing vast amounts of new money will help? Is the gold market wrong?)
- Keynes's General Theory of Employment, Interest, and Money. (Why Keynes's General Theory is so important and how it relates to Keynes's earlier work.)
- Interest Rates. (Should the government control bank, mortgage, and other interest rates?)
- Robert Skidelsky. (Keynes's biographer)
- Economic Stimulus. (Why deficit spending cannot be expected to create real economic stimulus.)
- Debt. (Why it is not possible to solve a crisis caused by too much debt by loading on more debt through deficit spending.)
- Debt and Income. (Why debt cannot indefinitely grow faster than income.)
- Zero Interest Rates. (Could Keynes have been right that we could eventually abolish interest rates?)
- Borrowing and Spending. (Why Keynes was wrong to think that borrowing and spending could create prosperity.)
- Paying for Government Economic Stimulus. (Keynes's idea that deficit spending would pay for itself has been proven wrong.)
- Inflation. (Why Keynes was wrong to think that we don't have to worry about inflation so long as the economy is not running at full capacity.)
- "Too Big to Fail." (Why this concept is wrong and why merging "too big to fail" firms to make them even bigger is no solution to the problem.)
- China. (How China contributed to the Dot-Com and Housing Bubbles and is blowing up a new economic bubble today.)
- History. (Why history does not support Keynes, Bush, or Obama.)
- Sustainability. (Why we need sustainable economic policies.)
- Misinterpreting Keynes. (Keynes did not say that crashes are unpredictable and come out of nowhere. On the contrary, he blamed crashes on too high interest rates. Keynes did not say that the government should balance the private sector, spending when consumers pull back, running surpluses when consumers spend too much. He wanted to drive the economy at full throttle at all times. Keynes did not favor tax cuts to create economic stimulus. He favored high taxes, especially on the rich.)
- Speculation. (Why speculation is the keynote of economic bubbles and why it is still with us.)
- The Debt Bubble. (The dot-com bubble, the housing bubble, and other economic bubbles are just aspects of this central economic bubble of our times.)
- And many others.
