The Failure of the New Economics was written by Henry Hazlitt.

Henry Hazlitt did something that was seemingly impossible, but is a magnificent service to all people. He wrote a commentary and refutation of one of the most convoluted and destructive books of the century. John Maynard Keynes’s General Theory was the book that swept all before it.

Keynes changed the economics of the world. He showed that prices don’t work, that private investment is unstable, that sound money is intolerable, and that government was needed to shore up the system and save it. The world over put up with this, but it happened. During the late part of the Great Depression, he converted a whole generation. Most of the population was Keynesian by the 1950s.

But Hazlitt, the nation’s economics teacher, wouldn’t allow it. The hard work was done to evaluate the logic in the book according to Austrian-style logical reasoning. A 500-page masterpiece of exposition was the result. The Failure of the New Economics was written by Henry Hazlitt.

MURRAY ROTHBARD WAS BLOWN AWAY.

Due to the latest theoretical developments Keynes’ General Theory is lined chapter by chapter, line by line. Someone thoroughly grounded in a sound positive theory can complete the refutation of a vast network of fallacy. The groundwork has been laid by Henry Hazlitt. The Failure of the New Economics was written by Henry Hazlitt.

He is a follower of Ludwig von Mises, and is uniquely qualified for this task. This is by far the best book on economics that has ever been published. The finished structure of the Austrian theory was set forth by Mises. The critique of Keynes by Hazlitt is a good complement to Human Action.

Henry Hazlitt, a renowned economic journalist, is a better economist than a whole host of sterile academicians, and, in contrast to many of them, he is distinguished by courage: the courage to remain an Austrian in the Keynesian holocaust. The economics profession should be conquered by this book as quickly as Keynes did.

The Keynesian System will be destroyed if the current fashionable economists don’t read and digest this book. A new generation under thirty-five will bring this message to fruition.