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home | Keynes Project
 

The Keynes Project: A Critical Analysis of the Economics of John Maynard Keynes from an Austrian School Perspective

Gary North

John Maynard Keynes was the most influential economist of the twentieth century. This speaks poorly of the twentieth century.

In October 2009, I wrote an article for Lew Rockwell in which I outlined a plan to refute Keynes, line by line. Austrian economists are not found on major university campuses. I wrote it for a younger, untenured academic economist at some private college or obscure university who is willing to devote his career to the task. I still hope such a person takes up my challenge. I am not optimistic, however.

I have shifted focus here. The Keynes Project is a model for a joint effort. It focuses on his 1936 book, The General Theory of Employment, Interest, and Money, but it is not limited to this volume. It considers his earlier writings as a prelude to The General Theory.

This Department is merely a preliminary effort. My plan is to put up a blog site where participants can discuss specific research issues in forums, submit articles or links to articles, and establish off-site communications with other participants. When the blog is on-line, I will direct the domain name to the new site rather than here.

The new site will serve as a clearing house for Austrian School economists and journalists who are committed to replacing the Keynesian paradigm with the Austrian School paradigm.

The Keynes Project project will be both offensive and defensive, as any comprehensive critique should be. It will show what was wrong with Keynes' economic theory, but it will use these critiques to provide an introduction to what is correct in economics -- specifically, Austrian School economics.

This project is governed by this presupposition: You can't beat something with nothing. It is not just that Keynes was wrong. It is that he was wrong in specific ways, violating specific insights of generations of previous economists, but especially those of Ludwig von Mises and F. A. Hayek, Keynes' chief rival in 1935.

A full-scale critique involves the creation of multiple products:

Monographs on specific technical issues
Professional journal articles
Textbooks suitable for an upper-division course
Glossary for The General Theory: past usage, Keynes' usage
Line-by-line critique of The General Theory
Popular books aimed at non-economists
Study guides for general books
Magazine articles suitable for The Economist
Magazine articles suitable for The Atlantic Monthly
Newspaper articles suitable for The Wall Street Journal
On-line video/audio presentations suitable for an upper-division class
Shorter on-line video presentations suitable for YouTube
Blog sites on specific topics
Discussion forums on specific topics
Talking-head videos such as this PBS segment.
Rap videos as good as this one:

Return here at any time: www.KeynesProject.com

Here are some starter articles.

On Replacing the Keynesian Establishment
Gary North - November 01, 2014
There is no plan or program to do this. . . . keep reading
How 1936 Consolidated the Progressives' Triumph in 1913
Gary North - October 25, 2014
Answer: Because 1787 and 1865 had laid the foundations. . . . keep reading
The International Gold Standard vs. the International Dollar Standard
Gary North - February 20, 2014
It's clear which the winner is. . . . keep reading
How the Keynesians Won . . . And Will Lose
Gary North - February 17, 2014
There are perfectly good reasons. The main one is this: enlightened self-interest. . . . keep reading
Keynes Torpedoed by PBS
Gary North - July 22, 2013
This is long overdue and well-deserved. . . . keep reading
After Keynesianism, What?
Gary North - July 15, 2013
You cannot beat something with nothing. You cannot change just one thing. . . . keep reading
HurriKeynesianism: Broken-Window Economics With Formulas
Gary North
This is Keynesianism for dummies. . . . keep reading
Video: Keynesian Theory from a Wanna-Be Sit-Down Comedian Columnist
Gary North
He's not Seinfeld, but Keynesianism isn't very funny. . . . keep reading
The Central Conceptual Error of Keynes in Half a Sentence
Gary North
A British Keynesian columnist lambasts Republicans in the House of Representatives for sabotaging the recovery, 2010-2012. . . . keep reading
Krugman's Clones: Conservatives Who Hate the Free Market and Hate the Rich Even More
Gary North
The politics of plunder has a broad market. It is well-entrenched in the conservative movement. . . . keep reading
The Keynes Project: No Takers So Far
Gary North
Keynesian policies are not working. Keynesian theories are ripe for the trash heap. Yet there is not one challenger -- no David to challenge an army of stumbling Goliaths. . . . keep reading
Keynesian Economics and Austrian Economics in Just 8 Words
Gary North
You can remember this with the fingers on two hands. . . . keep reading
Keynes and His Influence: The Untold Story of the Triumph of Keynesian Economics
Gary North
The textbook accounts of the triumph of Keynes have concealed the real story. . . . keep reading
Selling Keynes Short
Gary North
I'm looking for a few good non-tenured economists to volunteer for a high-risk mission. . . . keep reading
Video: Hayek Explains Why He Did Not Challenge Keynes After 1935 -- A Catastrophic Decision
Gary North
In this video, Hayek offers an explanation for what became his greatest career error, and one that has cost the world dearly. . . . keep reading