Download or read book The Revival of Laissez-faire in American Macroeconomic Theory written by Sherryl Davis Kasper and published by Edward Elgar Publishing. This book was released on 2002 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the 1970s, the Keynesian orthodoxy in macroeconomics began to break down. In direct contrast to Keynesian recommendations of discretionary policy, models advocating laissez-faire came to the forefront of economic theory, from monetarism to public choice theory to new classical economics. This book provides a comprehensive account of this watershed and traces the evolution of laissez-faire using the cases of its main proponents.