Keynes Against Capitalism: His Economic Case for Liberal Socialism

John Maynard Keynes was a 20th-century economist who wrote The General Theory of Employment, Interest, and Money to save capitalism from socialist, communist, and fascist forces. However, Crotty argues that post-WWII Keynesian economists misinterpreted his theory and failed to realize his overarching political objective was to replace British capitalism with Liberal Socialism. This book shows how Keynes' Liberal Socialism began to take shape in the mid-1920s, evolved into a more concrete institutional form, and was laid out in his work on postwar economic planning. It provides the rigorous economic theoretical foundation needed to support his case against capitalism in support of Liberal Socialism, making it relevant to todays global economic and political crises.

\n Format: Paperback / softback
\n Length: 398 pages
\n Publication date: 13 May 2019
\n Publisher: Taylor & Francis Ltd
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John Maynard Keynes, widely regarded as one of the most influential economists in history, penned his renowned masterpiece, The General Theory of Employment, Interest, and Money, during the tumultuous era of the Great Depression. The primary objective of this influential work was to safeguard capitalism from the rising threats posed by socialist, communist, and fascist ideologies. However, this book challenges the widely held belief that Keynes wrote this theory solely to protect capitalism from these ideologies.

In his comprehensive analysis, economist John Crotty delves into the evolution of Keynes' views on policy, spanning from World War I to his untimely death in 1946. Crotty argues that a significant portion of post-World War II Keynesian economists misinterpreted crucial aspects of Keynes' economic theory, misconstrued his policy positions, and overlooked his overarching political objective. Contrary to popular belief, Keynes' primary goal was not to save British capitalism but rather to replace it with a form of Liberal Socialism.

This book meticulously traces the gradual formation of Keynes' Liberal Socialism, evolving from his early ideas in the mid-1920s to a more concrete institutional manifestation over the subsequent decade. It provides a detailed account of Keynes' work on postwar economic planning at Britain's Treasury during World War II, where he laid the theoretical foundation for his case against capitalism in support of Liberal Socialism.

Furthermore, Keynes Against Capitalism offers an original and insightful exposition of Keynes' work, making it invaluable for both economics teachers and students. It appeals to a broader audience interested in the profound impact of the most influential economist of the 20th century on shaping the case against capitalism and advocating for Liberal Socialism.

In the context of today's global economic and political crises, Keynes Against Capitalism assumes heightened relevance. It serves as a timely reminder of the critical challenges facing societies and provides valuable insights into alternative economic and political systems that can address these challenges. By examining the ideas and theories of Keynes, this book encourages readers to reassess the current economic and political landscape and explore alternative paths toward a more equitable and sustainable future.

\n Weight: 646g\n
Dimension: 156 x 233 x 30 (mm)\n
ISBN-13: 9781138612846\n \n