The Impact of Keynes on Economics in the 20th Century

The book reconsiders the nature and significance of Keynes's theories and economic policies. It provides important contrasting interpretations of Keynesian thought and illustrates the diversity of Keynesianism in different European countries throughout the century. The book provides a blend of theoretical and historical discussions to evaluate the contents and implications of Keynesianism. It includes reappraisals of modern interpretations of Keynes's thought, the extent to which Keynesian ideas were anticipated in different European countries and the reactions to the Keynesian revolution. In addition the authors consider the impact of Keynesian thought on institutions which embraced, rejected or developed alternatives to this school of thought. The book is divided into three main parts. The first addresses Keynesian theory. The second part presents an overall picture of Keynesian-type policies and theories throughout Europe; many of these were not necessarily stimulated by Keynes but were the outcome of national traditions and ongoing debates. The third part is devoted to how Keynesian policy has been used by government and non-governmental organizations in an attempt to deal with unemployment and deflation during the 20th century.