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

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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.

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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