Introduction: The Social Meaning of Economics

Massimo Angelis
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Massimo Angelis: University of East London

Chapter 1 in Keynesianism, Social Conflict and Political Economy, 2000, pp 1-10 from Palgrave Macmillan

Abstract: Abstract The conventional wisdom that has informed the economic policies of governments around the world over the last two decades is rooted in neoliberal ideology. This is the old laissez-faire idea that markets operate for the better when left on their own, now set in the context of increasingly integrated global markets (the result of the deregulation of financial markets and trade liberalization), and combined with modern political discourses that recognize a government role in promoting competition and facilitating standards of market deregulation. Basic old-style Keynesianism — the idea that government should intervene through manipulation of aggregate demand in order to reach “full employment” — seems a closed chapter in the history of economics.1

Keywords: Capitalist Accumulation; Full Employment; Class Struggle; Effective Demand; Market Deregulation (search for similar items in EconPapers)
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-333-97749-1_1

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DOI: 10.1057/9780333977491_1

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