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The Consequences of Mr Keynes?

In: The Keynesian Revolution and its Critics

Author

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  • Gordon A. Fletcher

    (The University of Liverpool)

Abstract

The Keynesian Revolution was essentially a revolution of economic principles rather than, say, of policy prescriptions. As a consequence, the criticism of the General Theory which followed its publication in 1936 — and which, as we have seen, found its most telling expression in the work of D.H. Robertson — was directed primarily at the fundamentals of Keynes’s theory. Nevertheless, the conclusions that Keynes derived from his theory were clearly intended to have important implications for policy, and it was on the question of the consequences that were said to flow from the application of Keynes’s ideas that the Keynesian Revolution was ultimately to face its greatest challenge.

Suggested Citation

  • Gordon A. Fletcher, 1987. "The Consequences of Mr Keynes?," Palgrave Macmillan Books, in: The Keynesian Revolution and its Critics, chapter 15, pages 185-192, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-08736-5_15
    DOI: 10.1007/978-1-349-08736-5_15
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