Saturday, January 12, 2013

Austrians skeptical of Post Keynesian Paul Davidson's command of their literature will love this one...

Apparently Davidson thinks Hayek wrote a book called the Pure Theory of Money in 1931 to which Keynes responded.

Never heard of that one? Neither have I!

At least when Brad DeLong caught Slate making a mistake on this exact same passage from Keynes, they mistook it to be a comment on a book that Hayek actually wrote.


  1. Obviously a mistake in grammar or editing. No big deal. -- Robert

    1. Or reading the title of Keynes's reply and not going any further... Keynes is talking about Prices and Production here. "Pure Theory of Money" from Hayek's article title, is a reference to Keynes's book.

    2. It's still quite a blunder, Robert. In any case folks, speaking of Paul Davidson, who writes as "J. M. KEYNES" on, please see the following link and the comments section. It seems that Paul Davidson has things to account for...

  2. Actually, Hayek's Pure Theory of Money *was* a muddle, which is why it was never published.


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