The Enduring Influence of J. M. Keynes
Published on September 8, 2009 at 9:00 pm
Much of the response to the global economic crisis of the past two years has been based on the economic theories of John Maynard Keynes. No other economist of the past century has had such a profound influence on modern policy makers. The success or failure of the monetary and fiscal stimulus applied in the United States and elsewhere will depend on whether Keynesian policy prescriptions are effective.
The Economist recently interviewed Robert Skidelsky regarding this subject. Mr. Skidelsky has written a biography of John Maynard Keynes along with several other books. While I have not read his books on Keynes, I found the interview very interesting. Keynes remains a controversial figure more than six decades after his death but perhaps no one else will influence the course of our economy in a more profound way in the years to come.
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