Keynes and Economic Policy The Relevance of The General Theory After Fifty Years

This is a collection of papers on the relevance of Keynes' economic policy theory after 50 years. Keynes published the "General Theory" in 1936 when UK unemployment was above 10%. With unemployment equally high 50 years later, the British National Economic Development Office invited a group of economists to examine his theories.;The contributors were asked to consider which of Keynes' contributions are still relevant to economic policy and which have been superseded by more recent work, or discredited by the inflation of the 1970s and 1980s. They focus specially on the adequacy of market forces for the achievement of high employment, the link between money, wages and employment, the effect of fiscal reflation upon employment, the inflationary impact of fiscal policy, and the significance of public sector borrowing.;Walter Eltis has also written "Britain's Economic Problem" and "The Classical Theory of Economic Growth".