Titlebook: Abandoning Keynes; Australia’s Capital Tim Battin Book 1997 Tim Battin 1997 capital.employment.institutions.interest.John Maynard Keynes.K

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Diverticulitis

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偶然

ook carries the argument that there was and is nothing inherently contradictory about Keynesian theory or much of its practice. Keynesianism, its imperfections notwithstanding, was overturned because of a powerful alliance of interests and ideas.978-1-349-14352-8978-1-349-14350-4

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https://doi.org/10.1007/b110498d and foreseen at the time in the new enterprise, on the other. If there is to be an insight into why there was abandonment — or at least substantial revision — of the Keynesian experiment, it is necessary for there to be an appreciation of the factors which brought it into being in the first place.

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Suzanne M. Spencer-Wood,Sherene Baughers were still discernible to some extent. At least, this was the case within the ALP. Gone was any sense of cross-party consensus on the efficacy of Keynesian macro-economic management, let alone the feasibility of Keynesian full employment. For this reason, the focus of discussion of this chapter will be on the Australian Labor Party.

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Sherene Baugher,Suzanne M. Spencer-Woodction of the Hawke government in 1983. The economic and political background can be characterised as one of prosperity and optimism changing to austerity and caution to one of crisis. As Whitwell has observed, the 1970s

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https://doi.org/10.1007/978-1-4757-9279-9 the 1970s). In showing that these ascriptions have been without foundation, the aim is to refute the more general claim that Keynesianism was abandoned simply because it was based on weak theoretical foundations or that its economics was bound, sooner or later, to encounter its own internal contradictions.