The Keynes Perplex
By William N. Butos
This article appeared in the Spring 2020 issue of The Independent Review.
First published in 1936, John Maynard Keyness General Theory of Employment, Interest, and Money didnt become influential until after World War II, when a simplified and attenuated version entered the profession. Keyness complex, difficult, and often obscure analysis eventually took hold because it gave many economists just what they were looking for: a theoretical rationale for major government intervention to remedy what they regarded as the unreliability of market systems to avoid or recover quickly from recessions.
Economic PolicyEconomistsEconomyFederal Budget PolicyFederal Tax PolicyFiscal Policy/DebtPhilosophy and ReligionTaxes and Budget
|Other Independent Review articles by William N. Butos|
|Fall 2015||Causes and Consequences of the Climate Science Boom|
|Fall 2011||The Doomsday Lobby: Hype and Panic from Sputniks, Martians, and Marauding Meteors|
|Fall 2006||Government and Science: A Dangerous Liaison?|