Quarterly Journal of Austrian Economics

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Review of A Perilous Progress: Economists and Public Purpose in Twentieth-Century America, by Michael A. Berstein

  • The Quarterly Journal of Austrian Economics
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Tags Big GovernmentU.S. EconomyU.S. History

07/30/2014Samuel Bostaph
 

Volume 6, No. 1 (Spring 2003)

 

Every economist who regards himself or herself as a free-market theorist and advocate should acquire, read, and retain this paean to planning and interventionism as a valuable reference—especially if he or she is also a political libertarian. There are four good reasons: (1) it names names and carefully chronicles crucial events in a veritable family history of mainstream American statist economics and economists in the twentieth century; (2) it is very carefully referenced and contains extensive literature citations and a lengthy and admirable bibliography; (3) it provides a very defensive, almost stereotypical, Keynesian (in the Leijonhufud sense of the term) view of twentieth-century economic history and policy; and (4) it will provide several good laughs because of the author’s naïvely worshipful attitude toward economic fascism and his ingenuity in historical interpretation.

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Cite This Article

Bostaph, Sam. Review of A Perilous Progress: Economists and Public Purpose in Twentieth-Century America, by Michael A. Bernstein.The Quarterly Journal of Austrian Economics 6, No. 1 (Spring 2003): 75–79.

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