Publisher's Synopsis
-Keynesism is Marxism lite...- Such is the inescapable conclusion of the more than 100 chapters in this Summa on numerous things Keynesian, Austrian, and economic. Come partake of an exciting yet rigorous and eye-opening excursion into the intricacies of systematic economic theory and policy with Dmitry A. Chernikov who has been mastering economics and the Austrian school for many years under the tutelage of Mises, Rothbard, Hayek, and other luminaries and is a graduate of Mises University. You are bound to enjoy this exquisite blend of economics and philosophy, zooming all the way out for a view of the universe as a whole and focusing on the tiniest of details. This book is an application of sound economic logic to Keynes and his school and is a result of years of meditation on economic problems. Book I begins with a thorough guide to Keynes' General Theory. Keynes' arguments are given the most charitable interpretations; at the same time his many errors are with no qualms pinpointed and exposed. This process is punctuated with several forays into philosophy and methodology in order to situate economics within the big picture. These prepare a ground for and enlighten the reader's encounter with a treatment in the Austrian tradition of labor and unemployment, the time factor of production and time preferences, uncertainty and risk preferences, interest rates, rates of confidence, profits and losses, entrepreneurship, consumption / investment / hoarding trade-offs, and the theory of business cycles. Book II goes into detail on various mainstream and Post Keynesian doctrines and alternatives to the Austrian approach, especially regarding the business cycle and the monetary and fiscal policies.
