Keynes is one of the most important and influential economists who ever lived. It is almost universally believed that Keynes wrote his magnum opus, The General Theory of Employment, Interest and Money, to save capitalism from the socialist, communist, and fascist forces that were rising up during the Great Depression era. This book argues that this was not the case with respect to socialism. Tracing the evolution of Keynes’s views on policy from WWI until his death in 1946, Crotty argues that virtually all post-WWII "Keynesian" economists misinterpreted crucial parts of Keynes’s economic theory, misunderstood many of his policy views, and failed to realize that his overarching political objective was not to save British capitalism, but rather to replace it with Liberal Socialism. This book shows how Keynes’s Liberal Socialism began to take shape in his mind in the mid-1920s, evolved into a more concrete institutional form over the next decade or so, and was laid out in detail in his work on postwar economic planning at Britain’s Treasury during WWII. Finally, it explains how The General Theory provided the rigorous economic theoretical foundation needed to support his case against capitalism in support of Liberal Socialism. Offering an original and highly informative exposition of Keynes’s work, this book should be of great interest to teachers and students of economics. It should also appeal to a general audience interested in the role the most important economist of the 20th century played in developing the case against capitalism and in support of Liberal Socialism. Keynes Against Capitalism is especially relevant in the context of today’s global economic and political crises.
All over the world, political parties are being born and political pluralism is being fostered. Ironically, here in the United States, the parties are blurring together ideologically, and the political process is suffering. One of the messages of this book is that a vital two-party system is essential to America’s political health. The last thing this country needs, the authors argue, is two Republican parties. At this critical moment in history, the Democratic party has the opportunity to offer the nation a real political choice, a sense of direction, and a program to address the needs of Americans in a changing world. It is time, they say, for a change—a change that only the Democrats can provide. As recounted here, a generation of Republican administrations have had their chance. The results have not been happy: deepening social divisions, heightened inequalities in income distribution, a decaying educational system, environmental exploitation, an insensitivity to the concerns of the less powerful, the largest public debt in history, and a foreign policy based on force. Recurring constitutional crises have also erupted, as epitomized by the Iran-Contra affair. The record is a sorry one. Alternatives exist, and the best ones rest with the Democratic party. The Democrats must lead. It is their responsibility to offer a new vision of the future and the means for achieving it—to provide a program that is compassionate, just, and inclusive of all. The politics of greed, exploitation, self-promotion, and militarism must be put behind us. Such are the themes of this extraordinary book. Leading academicians, each an expert in his or her area, emphasize the need for new leadership, propose contributions that a progressive Democratic party could make, and suggest what this party should stand for as well as how it can win in 1992. They urge the Democrats to be both brave and principled-brave in defying the conventional wisdom that Democrats must be moderate to win, and principled in sticking to progressive ideals. The book provides analysis of such areas as the political impact of an issue-oriented, liberal party; the campaign and media choices required to get a progressive message across; the role and concerns of women, blacks, Hispanics, and other 262underrepresented groups; electoral and legislative strategies for success; and the substance of what a progressive policy agenda should contain. Challenging and thought-provoking, these essays will help reshape political thinking during this critical period in the nation’s history. Their objective is creation of a society that represents and responds to human needs, and the authors indicate the way to achieve these goals through an invigorated, forward-looking Democratic party.
All over the world, political parties are being born and political pluralism is being fostered. Ironically, here in the United States, the parties are blurring together ideologically, and the political process is suffering. One of the messages of this book is that a vital two-party system is essential to America's political health. The last thing this country needs, the authors argue, is two Republican parties. At this critical moment in history, the Democratic party has the opportunity to offer the nation a real political choice, a sense of direction, and a program to address the needs of Americans in a changing world. It is time, they say, for a change--a change that only the Democrats can provide. As recounted here, a generation of Republican administrations have had their chance. The results have not been happy: deepening social divisions, heightened inequalities in income distribution, a decaying educational system, environmental exploitation, an insensitivity to the concerns of the less powerful, the largest public debt in history, and a foreign policy based on force. Recurring constitutional crises have also erupted, as epitomized by the Iran-Contra affair. The record is a sorry one. Alternatives exist, and the best ones rest with the Democratic party. The Democrats must lead. It is their responsibility to offer a new vision of the future and the means for achieving it--to provide a program that is compassionate, just, and inclusive of all. The politics of greed, exploitation, self-promotion, and militarism must be put behind us. Such are the themes of this extraordinary book. Leading academicians, each an expert in his or her area, emphasize the need for new leadership, propose contributions that a progressive Democratic party could make, and suggest what this party should stand for as well as how it can win in 1992. They urge the Democrats to be both brave and principled-brave in defying the conventional wisdom that Democrats must be moderate to win, and principled in sticking to progressive ideals. The book provides analysis of such areas as the political impact of an issue-oriented, liberal party; the campaign and media choices required to get a progressive message across; the role and concerns of women, blacks, Hispanics, and other 262underrepresented groups; electoral and legislative strategies for success; and the substance of what a progressive policy agenda should contain. Challenging and thought-provoking, these essays will help reshape political thinking during this critical period in the nation's history. Their objective is creation of a society that represents and responds to human needs, and the authors indicate the way to achieve these goals through an invigorated, forward-looking Democratic party.
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