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Davar, E. (2015) Unemployment: Walras’s Voluntary and Keynes’s Involuntary. 8th International Conference of on Applied Economics in Economic Theory and Policy, Torun, 18-19 June 2015, 65-91.

has been cited by the following article:

• TITLE: The 21st Century Scandal Must Be Prevented: Keynes vs Hazlitt

  AUTHORS: Ezra Davar

  KEYWORDS: Keynes, Hazlitt, Multiplier, Involuntary Unemployment, Money Theory

  JOURNAL NAME: Modern Economy, Vol.7 No.3, March 25, 2016

  ABSTRACT: This paper shows that the return to Keynes’s irrelevant and incorrect doctrines from his General Theory has begun; hence, it must be prevented. This paper shows: 1) Hazlitt’s criticism of Keynes’s concept of the investment multiplier is entirely correct, revealed and based on Keynes’s fundamental flaw using throughout of the General Theory, namely replacement between cause and effect; 2) Hazlitt correctly criticized Keynes’s extremely vague and incomplete definition of involuntary unemployment and full employment; however, he incorrectly stated that involuntary unemployment couldn’t be equilibrium phenomenon; 3) Hazlitt successfully demonstrated that Keynes’s monetary theory was confusing, incomplete, and even incorrect.