Authors:Friedrich A. Hayek, Sudha R. Shenoy,
Publisher: Cato Inst
Keywords: inflation, legacy, keynesian, tail, tiger
Number of Pages: 158
Published: 2009-06-01
ISBN-10: 0932790062
ISBN-13: 9780932790064

Review: Hayek uses flawless logic to prove that Keynesian economics, which is touted today as our own modern monetary policy, is inflationary economics. The end result of this application can only be a situation which is worse than the one it was intended to remedy. Hayek proves that individuals acting independently are unable to provide the consistent statistical information necessary on which to base an ordered economy. Hayek then explains how Keynes’ pursuit of a perfect monetary policy will never be realized because artificial intervention can only produce inflationism. Hayek’