Henry Hazlitt’s second law is the observation that everything in Keynes's General Theory is either unoriginal or untrue. Keynes's theory of unemployment equilibrium is the most original aspect of his work.
The United States has long supported the idea of secession and "self-determination" for some faraway colonies. But the US regime is careful to define self-determination so as to deny any chance of secession closer to home.
When the subjective theory was formulated in the 1870s, it suffered from the defect of wrongly thinking that economic calculation could occur without prices. This defect gave socialists help in making their case.
