New revisionists and the Keynesian era in British economic policy
Alan Booth
Abstract
This article surveys the literature, which has argued that post-1945 British economic policy should not be described as Keynesian. It attempts to apply explicit definitions of 'Keynesian', 'influence', and 'the Treasury view'. It suggests that in post-1945 monetary and fiscal policies, in the treatment of the balance of payments, and in attitudes to public expenditure, strong Keynesian influences can be detected. The idea of a 'Keynesian era' should not be rejected and it is hinted that the failure to accelerate the growth rate, rather than the external dimension, caused the Keynesian era to unravel.
Article Type: OA
Page range: 346 - 366
Extent: 0 Page(s)
