Beveridge and his pursuit of an ideal economics: why did he come to accept Keynes’s ideas?

Atsushi Komine

International Journal of Social Economics, 2016, vol. 43, issue 9, 917-930

Abstract: Purpose - The purpose of this paper is to examine two (accidental and inevitable) reasons why W.H. Beveridge, who in 1936/1937 had rejected all of the elements of Keynes’s General Theory, came to accept it enthusiastically in the 1940s. Design/methodology/approach - The paper answers this question in three steps. First, it distinguishes apparently changeable factors in Beveridge’s views, from consistent ones. Second, it looks for factors of the latter type in his three goals for economics. Third, it compares his goals with those of Keynes. Findings - Beveridge’s three goals overlapped with Keynes’s ideals for economics and economists, and this is not historically accidental: economics should be useful as a basis for verification by fresh observations (as an exact science); economic knowledge should be useful in business and policy-making processes (for new kinds of educated professions); and economic studies requires a wide range of related subjects (a liberal education). Research limitations/implications - This paper attempts to clarify the cognitive assumptions of the two economists. This clarification can contribute to understanding the process and reasons behind Beveridge’s acceptance of Keynesian economic theory and policies on a theoretical level. Originality/value - This paper examines previously ignored reasons for Beveridge’s acceptance of Keynesian economics. Moreover, it suggests certain pre-analytic assumptions concerning the co-existence of social insurance and full employment policies. This perspective will be useful for historians of economics and the welfare state.

Keywords: Ideal economics; J.M. Keynes; LSE; Rigorous and exact science; W.H. Beveridge (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:eme:ijsepp:v:43:y:2016:i:9:p:917-930

DOI: 10.1108/IJSE-06-2015-0149

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