The Keynesian Revolution in Context

Gordon A. Fletcher
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Gordon A. Fletcher: The University of Liverpool

Chapter 23 in The Keynesian Revolution and its Critics, 1987, pp 282-303 from Palgrave Macmillan

Abstract: Abstract Though the Keynesian Revolution was a revolution of theory, it was a revolution with a purpose in the real world. Its purpose was to resolve a contradiction in orthodox economics which had been exposed and brought into focus by a particular set of economic circumstances. This is not, however, to argue that Keynes had been misled into advocating egregiously reckless expedients by a ‘very exceptional and almost unique’ episode, as claimed by Hayek;1 or that it was the ‘history-bound analysis’ as pictured by H. G. Johnson.2

Keywords: Public Choice; Capital Stock; Public Expenditure; Government Expenditure; Money Supply (search for similar items in EconPapers)
Date: 1987
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-08736-5_23

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DOI: 10.1007/978-1-349-08736-5_23

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