Had Keynes been Pakistan's finance minister today, he would have serious reservations about present economic policies and would have offered a different prescription for taking Pakistan out of the economic impasse.
Keynes would have made the case that this government has taken an incorrect approach by focusing on reducing fiscal deficit by cutting expenditure as the multiplier effect also works in reverse.
Councillor Peter Marland, leader of Milton
Keynes Council, said: "For a long time, we've held aspirations for a bricks and mortar university in MK to attract talented young people and for local students to attend, and this is a significant step towards the creation of MK:U.
Given the severity of their economic disagreements, it is striking that both men called themselves "liberals." Hayek's fierce criticisms of socialism are well-known, yet it is hard to classify Keynes as a socialist--many of his ideas are clearly designed to forestall socialism.
From this standpoint, the struggle between Keynes and Hayek (and their successors) concerns more than economics.
John Toye's book-length examination of Keynes's work on population theory brought two of his most eugenicist writing samples to the attention of scholars after their omission from Keynes's Collected Writings.
We argue for a different interpretation, paralleling Leonard's findings in the American economics profession: Keynes saw both the population's size and hereditary composition as fundamentally prerequisite features of his macroeconomic system at its maturity.
market economist and Keynes critic, wrote that The Economic Consequences
the traditional view, Keynes heroically resigned from the British
After the introduction, Chapter 2 focuses on a specific difficulty of comparing
Keynes and Friedman.
Fuller contends that the problem is that, unlike
Keynes, I use the supply price of an alternative project to calculate the MEC of a specified project.