ALUM ADV Why Keynesianism Failed
Description
The economic theories of John Maynard Keynes dominated economic policy for most of the 20th century. Politicians and economists from all parties enthusiastically supported Keynesian ideas of government spending to grow an economy. Yet Keynesianism did not live up to its promises and led to stagnation. This course will examine the reasons for its failure.
Recommended Reading
- John Maynard Keynes, excerpted from The Commanding Heights, by Daniel Yergin and Joseph Stanislaw, 1998 ed., pp. 39-42.
- Six short video excerpts from "Commanding Heights: The Battle for the World Economy," TV special originally aired on PBS.
- Ludwig von Mises, The Freeman, "The Symptomatic Keynes" , June 18, 1951.
- Ludwig von Mises, The Freeman, " Professor Hutt on Keynesianism " , January 1964.
- Murray N. Rothbard, Making Economic Sense, Keynesian Myths, and Keynesianism Redux (Auburn, AL: Mises Institute, 1995)
When
Wednesday, June 11th, 2008
9:45 am - 10:30 am
Prerequisites
- Acton Alumni Only
Faculty
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Dr. Victor V. Claar Victor V. Claar (Ph.D., West Virginia University) is associate professor of economics at Hope College in Holland, Michigan. He spent the 2006-07 academic year as a Fulbright Scholar, lecturing and conducting research at the American University of Armenia. His research interests include the macroeconomic implications of behavioral economics, time series econometrics, and forgiveness. He has written articles for Applied Economics, Public Finance Review, and Markets & Morality. He has served as referee for the journals Journal of Money, Credit and Banking; Journal of Public Economics and Journal of Macroeconomics; among others. He is on the board of Black River Public School, an innovative charter school, and serves as an adjunct scholar at the Mackinac Center for Public Policy in Midland, Michigan. His book, Economics in Christian Perspective: Theory, Policy, & Life Choices (coauthored with Hope colleague Robin Klay), was released in Fall 2007 by IVP Academic. |