Economist James Gwartney He died on Sunday at the age of 83. He made important academic contributions, but his role in educating the general public made him truly influential. Three contributions of his stand out: his textbook, his role in creating the Index of Economic Freedom in the World, and his (ultimately unfortunate) help transforming a moribund Russian economy in the early days of the revolution. Vladimir Putin.
“Economy: Public and Private Choice,” originally co-authored with Richard Stroup (1943-2021) and more recently with others, is in its 17th edition. It was the first major textbook to emphasize public choice economics, introducing the notion of government failure and critically analyzing Keynesian orthodoxy that emphasizes positive government contributions to economic stability and growth. The enduring acceptance of the text demonstrates that Keynesian perspectives have fallen out of favor even among academic economists.
Copyright ©2024 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8