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Roger W. Garrison

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Roger W. Garrison

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Roger W. Garrison

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Roger W. Garrison

Keynesian theory is a set of mutually reinforcing but jointly questionable propositions purporting to show how, in a market economy, a few excessively broad macroeconomic aggregates play off against one another. The writing style of TheGeneral Theory,coupled with its poor organization and seeming conflict with Keynes’s earlier writings, has subjected academic economists to years of conflicting interpretations of Keynes’s message. Meanwhile, policymakers, seeing the short-run advantage to fiscal and monetary stimulation, have been quick to adopt Keynesian thinking. And finally, the lessthansatisfactory performance of the so-called mixed economies has allowed for differing opinions among the electorate about whether the Keynesianizedeconomy’s lackluster performance has been bolstered or hamperedby Keynesian policies.

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Edited by Roger W. Garrison and Norman Barry

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Edited by Roger W. Garrison and Norman Barry

The Elgar Companion to Hayekian Economics provides an in-depth treatment of Friedrich August von Hayek’s economic thought from his technical economics of the 1920s and 1930s to his broader views on the spontaneous order of a free society. Taken together, the chapters show evidence both of continuity of thought and of significant changes in focus.