Cover: The Return to Keynes, from Harvard University PressCover: The Return to Keynes in HARDCOVER

The Return to Keynes

Add to Cart

Product Details

HARDCOVER

$64.50 • £51.95 • €58.00

ISBN 9780674035386

Publication Date: 02/15/2010

Short

320 pages

6-1/8 x 9-1/4 inches

15 figures, 1 table

Belknap Press

World

Keynesian economics, which proposed that the government could use monetary and fiscal policy to help the economy avoid the extremes of recession and inflation, held sway for thirty years after World War II. However, it was discredited after the stagflation of the 1970s, which not only proved resistant to traditional Keynesian policies but was actually thought to be caused by them. By the 1990s, the anti-Keynesian counter-revolution seemed to reach its pinnacle with the award of several Nobel Prizes in economics to its architects at the University of Chicago.

However, with the collapse of the dot-com boom in 2000 and the attacks of 9/11 a year later, the nature of macroeconomic policy debate took a turn. The collapse prompted a major shift in macroeconomic policy, as the Bush administration and other governments around the world began to resort to Keynesian measures—both monetary and fiscal policies—to stabilize the economy. The Keynesian rebirth has been most dramatically illustrated during the past year when central banks have pumped billions of dollars of liquidity into the world’s financial system to address the crises of confidence, illiquidity, and insolvency that were triggered by the sub-prime lending crisis. The Return to Keynes puts Keynesian economics in a fresh perspective in order to assess this surprising new era in economic policy making.

Recent News

From Our Blog

Jacket, In Mrs. Tully’s Room: A Childcare Portrait by Vivian Gussin Paley, Harvard University Press

Remembering Vivian Gussin Paley

Renowned educator and author Vivian Gussin Paley died recently. Her former editor at Harvard University Press, Elizabeth Knoll, looks back on her life and work, which emphasized storytelling as an important tool in children’s learning. Vivian Gussin Paley was a small, gray-haired schoolteacher

‘manifold glories of classical Greek and Latin’

The digital Loeb Classical Library (loebclassics.com) extends the founding mission of James Loeb with an interconnected, fully searchable, perpetually growing virtual library of all that is important in Greek and Latin literature.