In this analysis, Joaquín Estefanía, examines the extent to which Keynes and his work continue to offer us guidelines for the future. The author’s lucid portrayal of the father of macroeconomics presents him as a key thinker with ideas that went against the current: “Keynes firmly rejects communism, deplores both the conservative and labour policies of his era, and believes that something needs to be done “.
Nowadays, most people no doubt believe in the power of governments and in public intervention for avoiding economic depression, mass unemployment and the spread of poverty. What hardly anyone knows, however, is that this idea and its subsequent technical implementation, are due to John Maynard Keynes, one of the founders of economics as a science. Though he is probably the most often quoted economist of all, his work is largely unknown to the public.
Now, more than six decades since his demise, what remains of Keynes and Keynesian views? In an attempt to answer this question, Joaquín Estefanía takes his Essays in Persuasion and retrieves the most politically significant texts, all of which are readily accessible to the general reader and enormously illustrative of Keynes’ continuing validity.