The General Theory at 80: Reflections on the history and enduring relevance of Keynes’ economics
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| Format: | Artículo científico |
| Langue: | en |
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Universidad Nacional Autónoma de México
2017
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| author | Thomas Palleya |
| author_facet | Thomas Palleya |
| contents | The General Theory at 80: Reflections on the history and enduring relevance of Keynes’ economics Thomas Palleya Economía y Finanzas Keynes revolution General Theory classical counter Classical economics This paper reflects on the history and enduring relevance of Keynes’ economics.Keynes unleashed a devastating critique of classical macroeconomics and introduced anew replacement schema that defines macroeconomics. The success of the Keynesianrevolution triggered a counter-revolution that restored the classical tradition and nowenforces a renewed classical monopoly. That monopoly has provided the intellectualfoundations for neoliberalism which has produced economic and political conditionsechoing the 1930s. Openness to Keynesian ideas seems to fluctuate with conditions,and current conditions are conducive to revival of the Keynesian revolution. However,a revival will have to overcome the renewed classical monopoly. 2017 artículo científico 0185-1667 https://www.redalyc.org/articulo.oa?id=60155349003 en http://www.redalyc.org/revista.oa?id=601 Investigación Económica application/pdf Universidad Nacional Autónoma de México Investigación Económica (México) Num.301 Vol.LXXVI |
| format | Artículo científico |
| id | redalyc_60155349003 |
| institution | Redalyc |
| language | en |
| publishDate | 2017 |
| publisher | Universidad Nacional Autónoma de México |
| spellingShingle | The General Theory at 80: Reflections on the history and enduring relevance of Keynes’ economics Thomas Palleya Economía y Finanzas Keynes revolution General Theory classical counter Classical economics The General Theory at 80: Reflections on the history and enduring relevance of Keynes’ economics Thomas Palleya Economía y Finanzas Keynes revolution General Theory classical counter Classical economics This paper reflects on the history and enduring relevance of Keynes’ economics.Keynes unleashed a devastating critique of classical macroeconomics and introduced anew replacement schema that defines macroeconomics. The success of the Keynesianrevolution triggered a counter-revolution that restored the classical tradition and nowenforces a renewed classical monopoly. That monopoly has provided the intellectualfoundations for neoliberalism which has produced economic and political conditionsechoing the 1930s. Openness to Keynesian ideas seems to fluctuate with conditions,and current conditions are conducive to revival of the Keynesian revolution. However,a revival will have to overcome the renewed classical monopoly. 2017 artículo científico 0185-1667 https://www.redalyc.org/articulo.oa?id=60155349003 en http://www.redalyc.org/revista.oa?id=601 Investigación Económica application/pdf Universidad Nacional Autónoma de México Investigación Económica (México) Num.301 Vol.LXXVI |
| title | The General Theory at 80: Reflections on the history and enduring relevance of Keynes’ economics |
| topic | Economía y Finanzas Keynes revolution General Theory classical counter Classical economics |
| url | https://www.redalyc.org/articulo.oa?id=60155349003 |