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‟s new book will, so far as his theoretical apparatus is
concerned, fare little better than did the “Treatise” [on Money]‟
(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‟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
>
>