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Book X Conclusions 216

Definition & Reality in the General Theory of Political Economy · Thomas Cool — chapter 5 of 22 · ~354 words · public domain

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41. Relating to Mankiw’s “Principles” 216

42. Relating to Krugman, Phelps, Ormerod and Heilbroner & Milberg 219

Introduction 220

Review of positions and qualities 220

Krugman: “We don’t know” 222

Phelps: “Structural slumps” 224

Ormerod: “Death of economics” 228

H&M: “Crisis of vision” 230

All authors 232

43. Relating to Sen, Galbraith and Cox & Alm 232

Sen: “Development as freedom” 232

Galbraith: “Created Unequal” 235

Cox & Alm: “Myths of rich and poor” 242

44. Relating to the OECD and some of its authors 246

The OECD in general 246

The EITC, direct payroll tax reduction and wage cost subsidies 247

45. After 35 years of mass unemployment: An advice to boycott Holland 250

Summary 250

Introduction 251

First considerations 251

The realism of my advice 254

George W. Bush and Iraq and the American economy 254

More on Paul Krugman 256

The Dutch tragedy of the murder of Pim Fortuyn in 2002 256

On the European Enlargement 259

Advice to vote NO on the current proposals for a European Constitution 260

A note on my own position 261

Appendix: After 20 years of mass unemployment: Why we might wish for a parliamentary inquiry 262

46. Final conclusion 263

Epilogue 264

Appendices 266

On the definition of economics 266

Biographical note on Montesquieu 270

Price inflation and wage growth in Holland 1950-2002 272

Income distribution in Holland 1950 and 1988 273

Program used in the analysis on exposed and sheltered sectors 275

A note on Hayek 276

A note on Barrow’s “Impossibility” 278

A constitutional amendment for an Economic Supreme Court 279

A parallel argument on the Central Bank 281

About the US Council of Economic Advisers 282

From the “Employment Act of 1946” 282

Martin Feldstein on the US Council of Economic Advisers 283

Commenting on this 288

Presentation for the National Press in Washington 1993 289

Clinton administration EITC plans for 2000 293

Summaries of additional papers 298

A note on the New Economy (2000) 299

On the 2005 edition of this book 300

Autobiographical note 303

What is new in this analysis ? 305

Abstract 306

Literature 311

Index 323

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