Keynes for the Twenty-First Century: The Continuing by Mathew Forstater, L. Randall Wray

By Mathew Forstater, L. Randall Wray

This e-book presents an evaluate of the effect that Keynesian economics has had during the last 70 years, with contributions by way of lots of Keynes’s best proponents.

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Moggridge describes Keynes’s speech as “a powerful, frank description of the arrangements” (Moggridge 1992, 816; emphasis added). The choice of adjectives reflects the contrasting evaluation of his two biographers, the former stressing the eloquence, the latter the logic, of Keynes’s defense of his own doings. Harrod (1951, 618) takes a middle course, describing the address as a “graceful and persuasive speech . . ” Once again, we see here different evaluations of Keynes’s role in the various agreements that sealed the final act in Anglo-American financial negotiations during the Second World War.

We found several examples of Keynes’s style of working by forming and refining his argument vis-à-vis his interlocutors, with an ample range of cases in which the “meeting of minds” was thwarted, intermittent, or wholly successful. 2 In his activities as policy adviser, Keynes was in constant contact with ministers, civil servants, officers, politicians, bankers, and opinion makers. The extraordinary number of his correspondents testifies to the compelling need he felt to be keyed in with opinions and points of view coming from different quarters and the fundamental importance he attached to it.

2006. Keynes’s approach to money: An assessment after 70 years. Atlantic Economics Journal 34 (2): 183–93. ———. 2007. The employer of last resort programme: Could it work for developing countries? Monograph, Economic and Labour Market Papers, no. 5, International Labour Office, Geneva (August). ———. Forthcoming. Demand constraints and big government. Journal of Economic Issues, March 2008. P A R T I THE KEYNESIAN REVOLUTION DEVELOPMENT, INTRODUCTION, AND LEGACY This page intentionally left blank C H A P T E R KEYNES 1 AND PERSUASION Maria Cristina Marcuzzo* Brilliant man as [Keynes] is, he is too brilliant to be persuasive with us Americans.

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