Money, Banks and Finance in Economic Thought

The Past and Future of Keynesian Economics: a Review Essay

Aspromourgos Tony, University of Sydney

The recently published Elgar Companion to John Maynard Keynes (2019), under the editorship of R.W. Dimand and H. Hagemann, is a major new contribution to Keynes scholarship, with sixty-three participants contributing ninety-five distinct entries, in 632 pages of text proper. This collection might even have been entitled the ‘Elgar companion to Keynes and Keynesian economics’, since it includes also a large number of essays, in distinct sections, on Keynes’s ‘critics and contemporaries’, ‘associates’, ‘legacy and impact’, and ‘Keynesianism in various [eight] countries’. This review essay provides an overview and assessment of the character and content of the work. It does so also via consideration of the question of Keynes’s key theoretical achievements, his policy sensibility, and the relation between Keynes’s thought and the main currents of subsequent Keynesian economics. The essay concludes by addressing the question, what is of enduring validity and greatest importance in Keynes’s thought, for a robust economic science today and into the future?

Area:

Keywords: John Maynard Keynes; Keynesian economics

Paper file