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The Continuing Policy Relevance of Keynes’s General Theory

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Keynes for the Twenty-First Century

Abstract

Today, Keynes’s General Theory of Employment, Interest and Money is primarily considered part of the history of economics, rather than a guide to economic policy for the new millennium. This is primarily the result of what were considered to be theoretical errors and weaknesses in the theory that Keynes put forward in the book. Most of these criticisms appeared in the immediate postwar period, which, paradoxically, was the period in which Keynesian “policy” was being applied in almost all developed countries and was taken as the foundation for the restructuring of the postwar international trade and financial system.

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Authors
  1. Jan Kregel
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Editor information

Editors and Affiliations

  1. University of Missouri-Kansas City, USA

    Mathew Forstater (Associate Professor of Economics and Black Studies, Director) & L. Randall Wray (Professor of Economics, Research Director, Senior Scholar) (Associate Professor of Economics and Black Studies, Director) &  (Professor of Economics, Research Director, Senior Scholar)

  2. Center for Full Employment and Price Stability, UMKC, USA

    Mathew Forstater (Associate Professor of Economics and Black Studies, Director) & L. Randall Wray (Professor of Economics, Research Director, Senior Scholar) (Associate Professor of Economics and Black Studies, Director) &  (Professor of Economics, Research Director, Senior Scholar)

  3. Jerome Levy Economics Institute of Bard College, Annandale-on-Hudson, New York, USA

    L. Randall Wray (Professor of Economics, Research Director, Senior Scholar) (Professor of Economics, Research Director, Senior Scholar)

Copyright information

© 2008 Mathew Forstater and L. Randall Wray

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Kregel, J. (2008). The Continuing Policy Relevance of Keynes’s General Theory. In: Forstater, M., Wray, L.R. (eds) Keynes for the Twenty-First Century. Palgrave Macmillan, New York. https://doi.org/10.1057/9780230611139_8

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