Saturday, November 10, 2012

Masters of Money: John Maynard Keynes

This is one part of a three-part BBC documentary called “Masters of Money” (2012). This part deals with John Maynard Keynes, albeit in a rather dumbed down way. But an interesting, popular take on Keynes.

A major failing of the analysis is its failure to note how Keynes’s ideas were quickly transformed into the post-war neoclassical synthesis: it was this neoclassical version of Keynesianism that faced a theoretical and policy crisis during the 1970s stagflation era.


5 comments:

  1. A major failing of this series is its complete and utter inability to correctly communicate anything about any of the thinkers it purported to represent.

    I hate stuff like this. Just like the Keynes-Hayek rap, takes away from collective knowledge rather than adding to it.

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  2. Lord Keynes,

    Above you say:

    'A major failing of the analysis is its failure to note how Keynes’s ideas were quickly transformed into the post-war neoclassical synthesis: it was this neoclassical version of Keynesianism that faced a theoretical and policy crisis during the 1970s stagflation era.'

    Do you have links to any resources on this? Would be very interested to read about it.

    Best,
    David

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    Replies
    1. A brief summary here:

      http://socialdemocracy21stcentury.blogspot.com/2010/07/three-varieties-of-keynesianism.html

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    2. Also, on stagflation, see here:

      http://socialdemocracy21stcentury.blogspot.com/2011/06/stagflation-in-1970s-post-keynesian.html

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    3. Much appreciated. I look forward to reading it.

      Have a great weekend.

      Best,
      David

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