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Societies for the History of Economics <[log in to unmask]>
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Sat, 3 Dec 2011 17:15:39 -0000
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Societies for the History of Economics <[log in to unmask]>
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Dear all

Alvin Hansen is an interesting case. He initially had doubts about the
General Theory, writing a highly critical review of it in the Yale Review
of June 1936 where he argued that, "It is reasonably safe to predict that
Keynes&#8223;s new book will, so far as his theoretical apparatus is
concerned, fare little better than did the “Treatise” [on Money]&#8223;
(Hansen 1936a: 829). But in spite of this initial hostility, Hansen had,
after just a few months of reflection, become more sympathetic,
subsequently stating that the General Theory "will stimulate thinking on
fresh lines in the field of economic dynamics" (Hansen 1936b: 686). He
still accused Keynes of using unconvincing arguments and suggested that
the General Theory was more "a symptom of economic trends than a
foundation stone upon which a science can be built" (ibid.). Be that as it
may, it was clear that Hansen was gradually becoming a convert, an
exception to Samuelson&#8223;s supposition that economists over 50 were
somehow immune to the General Theory (Hansen was in his fiftieth year when
it appeared).

Hansen, A.H. (1936a) "Under-Employment Equilibrium", Yale Review, Volume
25, Number 4, 828-830.
Hansen, A.H. (1936b) "Mr. Keynes on Underemployment Equilibrium", Journal
of Political Economy, Volume 44, Number 5, 667-686.

Rob Cord


On Fri, December 2, 2011 03:45, Steve Kates wrote:
> There seem to be no end of books and articles praising Keynes and
> Keynesian economics and they continue to be published.
>
>
> My question, however, is are there any books and articles critical of
> Keynes and Keynesian economics? If so, where are they and who are the
> leading authors today taking an anti-Keynesian position? John Taylor,
> perhaps, or Alberto Alesina which is not a long list of names.
>
> Indeed, who are the authors of the past 75 years who have done major work
> in this area? I can think off hand of Mises, Hayek, Hazlett and Hutt, but
> who else is there and what did they write?
>
> The literature must surely be more extensive than this.
>
>
>
>
> Dr Steven Kates
> School of Economics, Finance
> and Marketing RMIT University
> Level 12 / 239 Bourke Street
> Melbourne Vic 3000
>
>
> Phone: (03) 9925 5878
> Mobile: 042 7297 529
>
>

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