Editing Keynesian economics (section)

=== Austrian school ===
[[Friedrich Hayek|F.A. Hayek]], an Austrian-style economist described Keynesianism as a system of "economics of abundance" stating it is, "a system of economics which is based on the assumption that no real scarcity exists, and that the only scarcity with which we need concern ourselves is the artificial scarcity created by the determination of people not to sell their services and products below certain arbitrarily fixed prices."<ref>{{Cite book |last1=Hazlitt |first1=Henry |title=The Critics of Keynesian Economics |last2=Hayek |first2=F.A. |publisher=Foundation for Economic Education |year=1995 |isbn=1-57246-013-X |pages=126}}</ref> [[Ludwig von Mises]], another Austrian economist, describes a Keynesian system as believing it can solve most problems with "more money and credit" which leads to a system of "[[inflation]]ism" in which "prices (of goods) rise higher and higher."<ref>{{Cite book |last1=Hazlitt |first1=Henry |title=The Critics of Keynesian Economics |last2=von Mises |first2=Ludwig |publisher=Foundation for Economic Education |year=1995 |isbn=1-57246-013-X |pages=305–306; 314}}</ref> [[Murray Rothbard]] wrote that Keynesian-style governmental regulation of money and credit created a "dismal monetary and banking situation," since it allows for the [[central bank]]ers that have the exclusive ability to print money to be "unchecked and out of control."<ref>{{Cite web |date=2024-03-07 |title=The Mystery of Banking |url=https://mises.org/book/export/html/64045 |access-date=2024-03-07 |archive-url=https://web.archive.org/web/20240307141212/https://mises.org/book/export/html/64045 |archive-date=7 March 2024 }}</ref> Rothbard went on to say in an interview that, "There is one good thing about [[Karl Marx|(Karl) Marx]]: he was not a Keynesian."<ref>{{Cite web |date=2024-03-07 |title=Interview with Murray Rothbard on Man, Economy, and State, Mises, and the Future of the Austrian School {{!}} Mises Institute |url=https://mises.org/austrian-economics-newsletter/interview-murray-rothbard-man-economy-and-state-mises-and-future-austrian-school |access-date=2024-03-07 |archive-url=https://web.archive.org/web/20240307141218/https://mises.org/austrian-economics-newsletter/interview-murray-rothbard-man-economy-and-state-mises-and-future-austrian-school |archive-date=7 March 2024 }}</ref>