Keynes and Myself

The heart of the Keynesian message is the need for demand management by monetary and fiscal means to counteract seriously deficient demand. The unemployment of the 1980s had at its heart union monopoly and was accompanied initially by double digit inflation. Keynesian demand management would have ma...

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Bibliographic Details
Published in:The Political quarterly (London. 1930) 2011-10, Vol.82 (4), p.497-505
Main Author: BRITTAN, SAMUEL
Format: Article
Language:English
Subjects:
Aggregate demand
British economy
budget
Budgets
Credit
credit crunch
Economic conditions
Economic crisis
Economic growth
Economic policy
Economic stabilization
Inflation
Keynes
Keynes, John Maynard
Keynesian theory
Keynesianism
Management
Monopolies
Political economy
stabilisation fund
Unemployment
Unions
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Summary:The heart of the Keynesian message is the need for demand management by monetary and fiscal means to counteract seriously deficient demand. The unemployment of the 1980s had at its heart union monopoly and was accompanied initially by double digit inflation. Keynesian demand management would have made no sense. The situation is now totally different when the credit crunch has brought on genuine demand deficiency. But Keynes left unsolved the role, if any of the budget balance. It is not good enough to say that ‘growth’ will take care of that too.
ISSN:0032-3179
1467-923X
DOI:10.1111/j.1467-923X.2011.02241.x