The Elgar Companion to John Maynard Keynes
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The Elgar Companion to John Maynard Keynes

Edited by Robert W. Dimand and Harald Hagemann

The most influential and controversial economist of the twentieth century, John Maynard Keynes was the leading founder of modern macroeconomics, and was also an important historical figure as a critic of the Versailles Peace Treaty after World War I and an architect of the Bretton Woods international monetary system after World War II. This comprehensive Companion elucidates his contributions, his significance, his historical context and his continuing legacy.
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Chapter 92: Keynesianism in France

Goulven Rubin

Abstract

According to Pierre Rosanvallon, Keynesianism arrived very late in France but its triumph was complete. It offered a common language to a large group of senior officers and engineers working in public administration and nationalized firms. It reconciled the French tradition of Colbertism with the necessity of a modern state. Richard Arena insists also that Keynesian ideas spread in a hostile context and initially outside universities and academia where typically French economic traditions dominated. The situation in universities started to change in the 1970s and 1980s when curricula in French universities began to incorporate macroeconomic courses based on IS–LM and with the development of disequilibrium economics. The chapter retraces the unfolding of this historical process and insists on the variety of heterodox interpretations of Keynes that flourished in the French context, such as the works of Bernard Schmitt and circuitists.

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