Why Keynes Was Wrong about Unemployment

Tags: Labor and Wages

07/01/2021 Robert Blumen

Henry Hazlitt’s second law is the observation that everything in Keynes’s General Theory is either unoriginal or untrue. Keynes’s theory of unemployment equilibrium is the most original aspect of his work.

Original Article: “Why Keynes Was Wrong about Unemployment“

This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Michael Stack.

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.

Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.