3' - Common Sense Economics
"Common Sense Economics" is a book written by L. Albert Hahn in 1956. It presents an economic model that emphasizes the importance of the supply of production factors (like labor and capital) in maintaining stable economic activity. The book critiques the Keynesian theory, which Hahn argues puts too much emphasis on the role of money in driving economic growth. Instead, Hahn advocates for traditional neo-classical principles, which he believes provide a better understanding of economic phenomena. The book is divided into six parts that cover topics such as the stationary economy, the changing economy, the economy in inflation and deflation, business cycles, and the formation of stock market prices.