© 1997

Abandoning Keynes

Australia’s Capital Mistake


Table of contents

  1. Front Matter
    Pages i-xiii
  2. Introduction

    1. Battin Tim
      Pages 1-11
  3. Historical and Theoretical Matters

  4. The Breakdown of the Keynesian Consensus, 1972–92

    1. Front Matter
      Pages 79-79
  5. Keynesianism and its Critics

    1. Front Matter
      Pages 121-121
  6. Proposing an Alternative Explanation

    1. Front Matter
      Pages 187-187
    2. Battin Tim
      Pages 189-209
    3. Battin Tim
      Pages 241-248
  7. Back Matter
    Pages 249-300

About this book


This analysis proposes a political explanation for the breakdown of Keynesian full employment in Australia. It taps into the current literature that examines the role of economic interests, ideas, and institutions, and, by taking issue with the arguments of anti-Keynesian economists, the book carries the argument that there was and is nothing inherently contradictory about Keynesian theory or much of its practice. Keynesianism, its imperfections notwithstanding, was overturned because of a powerful alliance of interests and ideas.


capital employment institutions interest John Maynard Keynes Keynes

Authors and affiliations

  1. 1.University of New EnglandArmidaleAustralia

Bibliographic information


'A convincing and comprehensive account of the success and ultimate failure of Keynesianism in Australia ... Essential reading, not only for other doughty fighters but for skeptics and critics as well' - G.C. Harcourt