Keynes and After

by Michael Stewart

Keynes's ideas have revolutionized our lives. Before the publication of the General Theory, economists were on the touchline, passively watching the economy perform; now they are on the field as players, manipulating the conditions of economic life. Yet Keynes was not merely a theoretical economist. During both wars he was probably the most important figure at the Treasury, and the modern International Monetary Fund is partly his creation. Since the 1930s millions of people who have never heard of Keynes' work have owed their livelihood to his ideas and policies.

But if we are all Keynesians now, are our problems the by-products of the Keynesian system? Can his ideas, which have banished the spectre of international recession, cope with the difficulties of an inflationary world? Is full employment threatened by a shortage of international liquidity, and is persistent unemployment in the U.S. an indication that Keynesian theory cannot answer the problems of automation? Are rising prices inevitable, and why is Britain constantly running into balance-of-payments crises? These questions are posed and answered in this new Pelican by Michael Stewart, whose clear and straightforward account of Keynes' life and ideas and of their status in the modern world should be a boon to intelligent people of any age and educational level.

Genres: Economics, History

317 pages, Paperback

First published January 1, 1967

Reviews

[Ian · Rating 4 out of 5]

A bit dated nowadays but does a fantastic job explaining Keynesians economics in a way that only requires one re-read and doesnt leave you with a headache. Also some good history on Keynes himself and some interesting economic highlights of the 20th century.

[John · Rating 2 out of 5]

The first half provides a good layman's summary of Keynes' theories and is still worth a read for the curious and time constrained. The second is a somewhat dated application of these theories to the mid 1960s.

[Mark · Rating 5 out of 5]

Brilliant expose to the layperson of JM Keynes, his General Theory and determination to see it implement. Michael Stewart writes about complex concepts & situations with the simplicity of JK Galbraith. This might sound odd for an economics book but it is a "great read".

[David Worsfold · Rating 5 out of 5]

One of the best introductory books for someone wanting to get to grips with Keynes and his economic theories which transformed western economies in the 1930s.

[Henry Sturcke · Rating 4 out of 5]

There are many misapprehensions about Keynes, leading to viewing him as responsible for the sorry state of public finances in many Western nations. This book was helpful to me for separating the achievement of the man from the abuse of his theories.