Keynes, Uncertainty and the Global Economy

Keynes, Uncertainty and the Global Economy

Beyond Keynes, Volume Two

Edited by Shelia C. Dow

The revival of interest in Keynesian economics since the late 1980s reinstates the importance of Keynes’s contribution to economic theory and policy. This is the second of two volumes in which authoritative contributions are presented by an outstanding group of international experts to celebrate Keynesian economics, and to review and further the developments of post Keynesian economics of recent years.

Preface

G.C. Harcourt

Subjects: economics and finance, post-keynesian economics

Extract

It is both a pleasure and a privilege to write the Preface to this volume of the second Leeds conference on Keynesian matters, so ably organized by Sheila Dow and John Hillard. The conference was a wonderful occasion for me especially; I made new friends and renewed old friendships in pleasant surroundings and I heard serious, stimulating and inspiring papers and discussion. The contents of the volume show that the wide-ranging interests, example and inspiration of Keynes himself guided our discussions. Much unfinished business from Keynes’s own agenda received attention: the vexed place of imperfect competition in the Keynesian system; the compromises needed to do effective systemic analysis; the roles of knowledge, information and uncertainty in economic analysis; appropriate methodologies; the place for econometric procedures in effective analysis; the usefulness of the insights of Keynes and his followers for current international issues, not least taming speculators and coping with the economic ignorance that underlies Maastricht. Because it was a gathering of Keynes scholars we were not afraid to learn from the past, from both historical events and scholars now dead. This was not piety but the application of critical intelligence combined with perspective. I am sure that readers of the volume will get pleasure and knowledge in equal measure from it. It only remains now for me to thank the editors and the contributors for their splendidly cooperative efforts. Please read on: G.C. Harcourt Cambridge, UK ix