ECON Book Review

Desired outline:

1. Background and introduction: What is the book about, what is it trying to accomplish. Some introduction on Hayek and Keynes, and Keynes’s economic theories. And Why Hayek is against that theory (relate to Hayek’s life experience of inflation). Do you favor Hayek’s economic belief or not.

2. Discuss Hayek’s stand towards Keynes’s theory on The Misuse of Aggregates (chapter 2 of the book). What do you think of it?

3. Discuss Hayek’s stand towards Keynes’s theory on Neglect of Real for Monetary Aspect (chapter 3 of the book). What do you think of it?

4. Discuss Hayek’s stand towards Keynes’s theory on Wage Rigidities and Inflation (chapter 4 of the book). What do you think of it?

5. Discuss Hayek’s prediction on the failure of central government control (see chapter 7, The Outlook for the 1970s), relate to the fall of Soviet Union

6. Conclusion: Summarize what’s written above, what did you get from this book, where you stand with Hayek’s beliefs. Do you pro or con his economic theories. If so, how do you think we can benefit from it; if not, how do you think it would harm us.

The review should be on the content of the book, NOT the writing style of the author.

1500 words, excluding cover page, and references. At least two references.

This is a my draft of my introduction paragraph, you are welcome to modify and add to it:

A Tiger by the Tail, a compilation of Friedrich A. Von Hayek’s published articles, arguing against government policies influenced by John Maynard Keynes’s General Theory. Hayek believes, as the title of the book entails, that when we rely on monetary policy for economic corrections, we are due for a longer and an even more disastrous outcome. In many of Hayek’s previous writings, he touched upon business cycles, capital, international monetary systems and money. Hayek’s arguments can be categorized in three aspects –– The Misuse of Aggregates, Neglect of Real for Monetary Aspects, Wage Rigidities and Inflation.