chapter  10
17 Pages

Can We Return to Keynesianism?

The 1990s have already been better years for Keynesians than were the 1980s. The prolonged recession that began at the start of the 1990s, when unemployment reached its low point of 1.6 million, has naturally made a doctrine that is committed to the reduction of unemployment an attractive candidate; calls for a 'return to Keynesianism' are frequently to be heard. The principal purpose of this final chapter is to assess the viability of this idea against the background of this account of the transition from Keynesianism to Monetarism.