Apart from minor matters of formulation and emphasis, I am prepared to stand by what I wrote a decade and a half ago about Keynes and Keynesian economics. In particular, I still believe that his greatest achievements were freeing economics from the tyranny of Say’s Law and exploding the myth of capitalism as a self-adjusting system which reconciles private and public interests.
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- 1.Such a canvassing of Keynes’ writings for light on the long-run determinants of the inducement to invest is reported on by Alan Sweezy, “Declining Investment Opportunity,” in S. E. Harris, ed., The New Economics, Knopf, New York, 1947, pp. 425 ff.Google Scholar
- 4.Joan Robinson, Economic Philosophy, London, 1962, p. 93.Google Scholar