In the Long Run We Are All Dead: Keynesianism, Political Economy, and Revolution

Geoff Mann's book "In the Long Run We're All Dead" critiques Keynes for our post-crash world and provides an accessible introduction to his masterwork "The General Theory of Employment, Interest, and Money." He argues that Keynesianism offers a proposal for capital without capitalism and revolution without revolutionaries, meeting two centuries of crisis.

Format: Paperback / softback
Length: 432 pages
Publication date: 07 May 2019
Publisher: Verso Books

In the aftermath of the devastating 2007-2008 financial crisis, a surge of progressive voices across the globe sought to revive the economic theory of John Maynard Keynes. The crisis had starkly exposed the catastrophic consequences of small-state, free-market liberalization and deregulation. Keynesian political economy, in contrast, offered a way to re-center the state in the economy and empower it with the knowledge necessary to rescue us from the impending disaster. However, the exact nature of the rescue mission remained somewhat ambiguous. Was it the end of capitalism, or the end of the world as we know it? For Keynes, the answer was both.

Geoff Mann's book, "In the Long Run We're All Dead," serves as a comprehensive critique of Keynes for our post-crash world, while also providing an accessible and historically grounded introduction to his seminal work, "The General Theory of Employment, Interest, and Money." Mann argues that Keynesianism emerges as the most persuasive internal critique within modern liberalism, offering a proposal for capital without capitalism and a revolution without revolutionaries, in response to two centuries of crises.

Keynesianism, according to Mann, represents a departure from traditional economic theories that prioritize individual self-interest and private profit. Instead, it emphasizes the role of the state in regulating and managing the economy to ensure stability and prosperity for all. Keynes believed that government intervention could stimulate economic growth by increasing aggregate demand, investing in public infrastructure, and providing social welfare programs.

One of the key arguments put forth by Mann in his book is that Keynesianism is not a panacea for all economic problems. However, it does provide a valuable framework for addressing the specific challenges posed by crises and economic downturns. During the Great Depression, for instance, Keynesian policies such as government spending and monetary stimulus helped to alleviate the suffering of millions of people and prevent the economy from collapsing entirely.

Mann also criticizes the shortcomings of alternative economic theories, such as neoliberalism, which prioritize free market forces and deregulation. He argues that these theories have led to increased inequality, financial instability, and environmental degradation. Neoliberalism, according to Mann, has failed to address the root causes of economic crises, such as the concentration of wealth and power in the hands of a few, and has instead exacerbated them.

In conclusion, Geoff Mann's "In the Long Run We're All Dead" offers a thought-provoking and insightful critique of Keynes for our post-crash world. It provides a valuable introduction to Keynes's economic theory and highlights its relevance in addressing the challenges we face today. While Keynesianism may not be a perfect solution, it does offer a way forward for building a more equitable and sustainable economy. As we navigate the uncertain waters of the 21st century, it is essential to consider the lessons of history and the potential of Keynesianism to guide us toward a brighter future.

Weight: 530g
Dimension: 190 x 163 x 32 (mm)
ISBN-13: 9781784786007