Vecchi, Nicolo De - In: The European Journal of the History of Economic Thought 13 (2006) 2, pp. 233-258
Hayek did not review the General Theory, but he criticized it in Profits, Interest and Investment (1939) and in part IV of The Pure Theory of Capital (1941). First, he showed that only exceptionally does greater consumption favour investment and employment. Second, he rejected Keynes's liquidity...