The Failure of the "New Economics" subtitled An Analysis of The Keynesian Fallacies, is a book by Henry Hazlitt offering a detailed critique of John Maynard Keynes' work The General Theory of Employme
First edition
Multiplier (economics)
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In macroeconomics, a multiplier is a factor of proportionality that measures how much an endogenous variable changes in response to a change in some exogenous variable.
The Failure of the New Economics
…toward Keynesian analysis and policy." A review in the Economic Record was critical of Hazlitt's comprehension of demand curves, elasticities, and multipliers and wrote: "[Hazlitt] flattered himself that he could turn mathematical purblindness into a virtue...It is a pity, because the author certainly writes…
Illustration of the original visualisation of the tableau économique by Quesnay, 1758
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