Multilateralism and military Keynesianism: Completing the analysis

Jan Toporowski

Journal of Post Keynesian Economics, 2016, vol. 39, issue 4, 437-443

Abstract: Kalecki’s analysis of military Keynesianism highlights the difficulties of managing aggregate demand in one country, without coordination with trading partners. Military Keynesianism is effective as a means of reflation because, unlike civilian public works, it induces similar expenditure by political rivals. In this way it overcomes some of the trade difficulties that arise if aggregate demand expands in only one country.

Date: 2016
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DOI: 10.1080/01603477.2016.1240589

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