End of the Keunesian era

Evidence is growing that the postwar system of political economy is breaking down, not just in Britain, but internationally. This system has been largely inspired by the ideas of John Maynard Keynes. Twelve distinguished contributors take a look at this breakdown, analyses the reasons for it, and suggest what might be taking its place. The essays in the volume deal with the formative influences on Keynes, the monetarist critique of his ideas, the political meaning of the Keynesian revolution, the politics of inflation, the application and rnis application of Keynesian ideas, international aspects, and the likely shape of the post-Keynesian era. Although some contributors feel that even government intervention of the Keynesian type is excessive, the majority appear to accept that the future will (and perhaps should) bring more government control over economic life than Keynes would have considered desirable. The issues dealt with are as much questions of politics and of culture as of economics, and the contributors have eschewed a narrowly economic approach.