The General Theory and Keynes for the 21st Century
Show Less

The General Theory and Keynes for the 21st Century

Edited by Sheila Dow, Jesper Jespersen and Geoff Tily

This book is devoted to the lasting impact of The General Theory (and Keynes’s thought) on macroeconomic theory, methodology and its relevance for understanding the post-crisis challenges of the 21st Century. A number of contributions take their departure from Keynes's presentation during the 1930's of his new macroeconomic understanding and its policy implications. Other chapters take a more pluralistic view of Keynes's ideas and their importance for contemporary debates. Further, it is demonstrated that many textbooks often misrepresent The General Theory and therefore cannot be a reliable guide to 21st Century economic policy.
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 9: John Maynard Pangloss: Indian Currency and Finance in imperial context

Radhika Desai


There is a tendency to see Indian Currency and Finance as anticipating Keynes’s later work on international monetary issues, including his proposals for the Bretton Woods conference. This chapter argues, however, that such continuities as there may appear to be are purely technical, relating to the ideas and methods of managing money, and are not original to Keynes’s economic thinking. On the other hand, a vast political chasm and thirty years separate these two endeavours. This chapter demonstrates now unoriginal the common technical elements of these two sets of work were while also showing how politically different they were. In this way, the chapter seeks to provide an appreciation of just how great a distance Keynes travelled from his Marshallian convictions of his earliest days to the critical account of capitalism he eventually arrived at.

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information

or login to access all content.