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  1. The Distributional Impact of the Eighties: Myth Vs. Reality.Lowell Gallaway & Richard Vedder - 1993 - Critical Review 7 (1):61-79.
    Is there truth to the widespread belief that the ig8os saw a redistribution of income upward, from the poor and the middle class to the rich? While the eighties witnessed an abundance of new and high?paying jobs and a sharp redistribution of taxes upward, income inequality did increase. But this was not because the poor lost ground but because the rich gained more ground than the poor. In reality, then, the eighties were not only good for the rich and the (...)
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  • High Interest, Low Demand, and Keynes: Rejoinder to Hill and Felix.Roger W. Garrison - 1994 - Critical Review 8 (3):451-460.
    Keynes's theory of interest is central to his broader argument. However, short?run policy, which takes the so?called normal rate of interest as given and aims at affecting the prevailing rate, must be distinguished from long?run reform, which aims at changing the normal rate. The low demand that Keynes associated with high interest was believed to be inherent in a decentralized, consumption?oriented economy. Consequently, he advocated reform in the direction of central control. Despite his ?moral and philosophical? agreement with Hayek's Road (...)
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