There is a growing drumbeat from some high-profile economists to reassure Americans that large increases in income and wealth taxes won’t distort labor markets. Yet much of their arguments are very misleading.
Henry Hazlitt's The Failure of the "New Economics" published in 1959, is still the best refutation of Keynesian economics to be found anywhere — sixty years later.
A sober look at the assumptions underlying neoclassical analysis reveals that they are either not realistic or not applicable in economic analyses of the real world.
