Abstract
John Quiggin's _Economics in Two Lessons_ alleges a failing in Henry Hazlitt's _Economics in One Lesson_: the absence of a discussion of market failure. Quiggin's adherence to the doctrine of neoclassical equilibrium misses an important fact: the absence of a neoclassical equilibrium is not a recession, but the ordinary course of the economy. _Economics in Two Lessons_ reveals a misunderstanding of Austrian business cycle theory, and the second lesson to a large extent consists of casting Hazlitt's lesson aside.
Full Text 
Sign-in/Register to access full text options
Sign-in/Register to access full text options 
Published version (
Free)
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
