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THE CONSEQUENCES OF MR KEYNES.pdf - Institute of Economic ...

THE CONSEQUENCES OF MR KEYNES.pdf - Institute of Economic ...

The Consequences

The Consequences of Mr Keynes J. M. BUCHANAN JOHN BURTON R. E. WAGNER S3I»i^H|D0DO BMW **^nnEQ mmmmmm ^^3^__~~^=Sfed_L____!^^ ;^ W^- HOBART PAPER 78 Second Impression £1.50

INSTITUTE OF ECONOMIC AFFAIRS The Institute was formed in 1957 as a research and educational trust that specialises in the study of markets and pricing systems as technical devices for registering preferences and apportioning resources. Micro-economic analysis forms the kernel of economics and is relevant and illuminating in both government and private sectors, in collectivist as well as in individualist societies. Where the macro-economic method is used its results are verified and interpreted in the light of micro-economic significance. The Institute's work is assisted by an advisory council which includes: Professor Armen A Alchian Professor J M Buchanan Colin Clark Professor R H Coase Professor Malcolm R Fisher Professor T W Hutchison Graham Hutton Professor Dennis Lees Professor E Victor Morgan Professor Alan T Peacock G J Ponsonby Professor A R Prest Professor H B Rose George Schwartz Henry Smith Professor A A Walters Professor Jack Wiseman Professor B S Yamey The Institute is a company limited by guarantee, controlled by Managing Trustees. It is independent ofany political party or group and financed by sales of publications and by voluntary contributions from individuals, organisations and companies. General Director Editorial Director Deputy Director Assistant to Directors Joan Culverwell Librarian Kenneth Smith Ralph Harris Arthur Seldon John B Wood Publications Manager Michael Solly Hobart Papers published by the Institute are listed on page 94. Details of other publications are available from: THE INSTITUTE OF ECONOMIC AFFAIRS 2 Lord North Street, Westminster, London SWiP 3LB Telephone: 01-799 3745

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