Is the Market a Test of Truth and Beauty?

Ȁȇȇ Partʺ: Economics

University of Virginia, we were colleagues. His analytical message, his
humanitarian concern for those suffering from restrictions on economic
opportunity, his intellectual force and zeal, and his integrity came across
better when he had ample opportunity to present his message in person
than when he offered it in writing alone.
Whether he realized it or not, Hutt was preaching to the already saved.
Doing so, however, is far from pointless. Sympathetic readers can find
much in his work to fortify their understanding of how the real world
works and could be made to work better. Ļey can find much to deepen
their insights into the fallacies of Keynesian doctrines whose former dom-
inance has still not been entirely expunged. Teachers able to give sympa-
thetic expositions can make good use of Hutt’s work in their classes. It
may serve as the focus of fruitful controversy among sympathetic readers.

ŞőŒőŞőŚŏőş

Barro, Robert J., and Herschel I. Grossman. “A General Disequilibrium Model

of Income and Employment.”American Economic ReviewȅȀ(MarchȀȈȆȀ):

ȇȁ–ȈȂ.

.Money, Employment, and Inflation. New York: Cambridge University

Press,ȀȈȆȅ.

Cagan, Philip. “Reflections on Rational Expectations.”Journal of Money, Credit,

and BankingȀȁ, Pt.ȁ(NovemberȀȈȇǿ):ȇȁȅ–ȇȂȁ.

Clower, Robert W. “Ļe Keynesian Counterrevolution: A Ļeoretical Appraisal.”

InĻe Ļeory of Interest Rates, edited by F.H. Hahn and F.P.R. Brechling,

ȀǿȂ–ȀȁȄ. London: Macmillan,ȀȈȅȄ.

. “A Reconsideration of the Microfoundations of Monetary Ļeory.”
Western Economic Journalȅ(DecemberȀȈȅȆ):Ȁ–ȇ.

Colander, David C. “Ļe Evolution of Keynesian Economics.” Unpublished

manuscript datedȀȃOctoberȀȈȇȅ. Prepared for presentation at Glendon

College, York University, Conference on Keynes and Public Policy after Fifty

Years,ȀȈȇȅ.

Friedman, Milton, and Anna J. Schwartz.A Monetary History of the United States,

ȀȇȅȆ–ȀȈȅǿ. Princeton, N.J.: Princeton University Press,ȀȈȅȂ.

Glazier, Evelyn M.Ļeories of Disequilibrium: Clower and Leijonhufvud Compared

to Hutt. MA Ļesis, University of Virginia,ȀȈȆǿ.