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Where Keynes Went Wrong: And Why World Governments Keep Creating Inflation, Bubbles, and Busts

3.75  ·  Rating details ·  150 Ratings  ·  18 Reviews
In responding to the financial crash of 2008, both the Bush Administration and the Obama Administration have relied on prescriptions developed by John Maynard Keynes, the most important economist since Marx. But should we be relying on Keynes? What did Keynes actually say? Did he make his case? Hunter Lewis concludes that he did not. If Keynes was wrong then so are the eco ...more
Hardcover, 384 pages
Published September 1st 2009 by Axios Press
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Oct 11, 2009 rated it really liked it
Recommends it for: economic illiterates (particularly in government) everywhere
Where did Keynes go wrong? Just about everywhere. Lewis smelts Keynes obtuse and often contradictory works to arrive at fundamental Keynsian nuggets. Not surprisingly they are generally base metals, composed of intuition, ego, and a contrarian desire to surprise.

So why do governments keep falling for it? Why were the Bush, and especially the Obama administrations fully stocked with Keynsians prescribing policies that are nearly the opposite of what is required for recovery?

This is the one area
David Robins
Mar 04, 2010 rated it really liked it
If you want to see a detailed teardown of Keynes' theories, or if you just want to learn about Keynesianism (a flawed economic theory that both Democrat and Republican politicians generally subscribe to, including the current and recent presidents) this is a good book. The book contains Keynes' General Theory and examines it section by section. It's solid, if not inspired. It also has a decent debunking of the idea that any government act helped end the Great Depression (in fact, government acts ...more
Jul 11, 2012 rated it really liked it
Shelves: economics
This may not be the best criticism on Keynes, but it is one of the more complete deconstructions of the master, and to be perfectly honest this is the first book I've read that thouroughly discusses the General Theory (since as Paul Krugman points out most people like me can't handle pure Keynes which is probably the most accurate thing I've ever read by Krugman). Although I have been introduced to criticisms of the Paradox of Thrift, Circular Flow and Demand Aggregates I definitely got more inf ...more
Paul Childs
Jul 23, 2011 rated it did not like it
Shelves: economics
I don't know if I can really comment on the information in this book, but I hated the way the book was written so I stopped reading it.

The chapters where he "explains" what Keynes had said or believed were not really chapters in my mind, they were outlines. He would list a point and put a short blurb or quote there to "explain" Keynes. This went on for pages and pages. It came off as confusing and disjointed.

He seemed to do as little as he could to clearly explain anything. And as if this wasn
May 09, 2018 rated it it was amazing  ·  review of another edition
An eye opener

This book describes Keynesianism in detail, then carefully and precisely destroys it, leaving a pile of smoking ruins. A must read.
Taylor Perper
May 08, 2013 rated it really liked it
Loved this book. Well written and sourced. If you are not of the opinion that Keynes was a horrible "economist" then of course you will hate it. Why even bother honestly? However, if read with an open mind, this book gives great historical information with, yes, biased information but well sourced unlike many other texts that simply go on and on about merely opinion with no evidence whatsoever.
Thomas Neuhaus
Sep 05, 2018 rated it did not like it  ·  review of another edition
While Keynes was far from perfect, Lewis is even further off with his theories. The first five chapters of the book detailing Keynes thinking and picking apart Keynes' theories are acceptable. Keynes had a lot of faults in his thinking and reading Keynes's 'The General Theory' is very cumbersome. So Lewis' criticisms, in that regard, are well reasoned. However, in the following chapters, Lewis goes on to describe his own economic theories, which are just as wrong.

First, Lewis doesn't understand
Aug 17, 2018 rated it did not like it
Greg Talbot
May 03, 2012 rated it did not like it
Lewis tells us that other reader's are familar with the work of Keynes but has not read the source material. The remedy is choppy everything Keynes has said, diagnose one sentence at a time, and bring a long meandering commentary to this. Worst still Lewis, repeats a lot of the same sentences, and ideas in different chapters. Then in later chapters he goes into topics of how Keynes "writes" and how he "speaks". What the hell does it have to do with "Where Keynes went wrong AND Why world governme ...more
Sam Frentzel-Beyme
Jan 20, 2013 rated it liked it
Worth reading as a good introduction to the flip side of standard economic fare and introduced many of the players with opposite views for future reading and reference. Wouldn't say the book is a completely objective view, but the author does a good job of trying to keep things balanced. I would have liked to have seen some more on alternatives.
Jan 30, 2013 rated it it was ok
good arguments, but it's a little light on evidence. granted, it's hard to find evidence of non-keynesian policies in the last 80 years, but i found it ironic that he was accusing keynes of abstract arguments with no backing and he sought to refute those ideas...with largely abstract arguments with little backing.

but, all in all, a good primer on the 'common sense' arguments against keynes.
Brandon Byrd
Oct 08, 2011 rated it really liked it
This book was limited in scope to the title. It really was a critique of just Keynes' economic ideas. It's apparent that modern-day "Keynesians" aren't as Keynesian as Keynes was. It's surprising, though, what obvious logical gaps, assumptions, and unproved assertions from Keynes still pervade economic thinking today. A very informative read!
Oct 28, 2013 rated it really liked it
An excellent, well thought out, easy to read analysis of Keynes weakness as a economic theorietician. He is popular with the lib politicians because he agressively advocates ever increasing power to the political sector.
Josh Hanson
Feb 09, 2010 rated it liked it
Shelves: economics
The book itself wasn't amazing, but it was extremely enlightening. I would much rather read Hunter Lewis' critique of Keynes than try to wade through the endless fallacies and contradictions of Keynes' own work.
Frederick Frankel
May 18, 2014 rated it really liked it
A good review of the main arguments made by Keynes, and the counterarguments to them. Written in plain language.
Jun 02, 2011 rated it liked it
So far a must read at all Universities!!
Debbie Shannon
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Jan 30, 2017
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Jul 20, 2014
rated it it was amazing
May 29, 2014
Jonatan Altszul
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Sep 16, 2013
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May 28, 2012
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Apr 28, 2016
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May 25, 2010
Ayush Rampuria
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Renowned investor and author Hunter Lewis has written eight books on the financial issues of America, providing real solutions to turn the economy around.
He is the former CEO of Cambridge Associates, a global investment firm he co-founded after graduating from Harvard University. The company’s clients represent three-quarters of higher education endowment assets in the United States as well as oth

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