Keynesian Economics Critiqued: Unveiling the Fallacies of Traditional Economic Theory
The article "Dissent on Keynes: A Critical Appraisal of Keynesian Economics" presents various criticisms of Keynesian economics. The authors argue against fiscal stimulus as a recovery policy, question the validity of the Phillips Curve, and debunk the myths of the multiplier and accelerator effects. They also discuss Keynes' anti-savings mentality, different approaches within Keynesian economics, and whether Milton Friedman can be considered a Keynesian. Overall, the article provides a critical examination of Keynesian economic theory and its implications.