Keynes versus the 'Keynesians'

Keynes's name and repute have been used to support policies not justified by his writings

In this Hobart Paperback Professor T. W. Hutchison tests the interpretation of Keynes in the light of his writings and utterances within a few years of 1936. He defends Keynes both against several critics and then against former colleagues and students at the University of Cambridge who claim to be, or who are regarded as, Keynesians in their interpretations, development and applications of his system of thought.

Professor  Hutchison argues that Keynes would not have supported their interpretations of five major aspects of economic policy: the nature of full employment, the methods of ensuring economic growth, the relative importance of price stability and other economic aims such as full employment, the control of inflation by incomes policy, and the desirability of public expenditure. And from this view he maintains that Keynes's name and repute have been used to support policies not justified by his writings.

 

With commentaries by Lord Kahn and Sir Austin Robinson.

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