RE: Today's Wall Street Journal on Mankiw's new textbook

[mongiovg@xxxxxxxxxxx (Mongiovi Gary)]

For a critical review of Mankiw's book, check out Robert Heilbroner's piece
in this week's Nation.  Bob's tone is probably a bit more gentlemanly than
the book deserves, and he ends on a curiously, albeit modestly, hopeful
note.

Ciao!

Gary M.

-----Original Message-----
Sent:	Thursday, October 09, 1997 2:24 PM
To:	POST-KEYNESIAN THOUGHT
Subject:	Today's Wall Street Journal on Mankiw's new textbook

In a revolting editorial disguised as a book review, the Wall Street
Journal today published, on p. A18, the thoughts of Mark Skousen, who
celebrates Mankiw's new textbook as a "counterrevolutionary" work
which "defeats" Keynesianism and puts "classical economics back at the
forefront, where it belongs".  Mankiw, apparently undeterred by the
1980s, "approvingly quotes Milton Friedman" that "inflation is always
and everywhere a monetary phenomenon".  One other gem discerned by
Skousen in Mankiw's new book is that "Unemployment is caused not by
greedy industrialists, but by minimum wage laws, collective
bargaining, unemployment insurance and other regulations that raise
the cost of labor."

Are there any critical reviews of this book yet out?

A letter to the editor might be in order from PKT folks...


Bill