This analysis proposes a political explanation for the breakdown of
Keynesian full employment in Australia. It taps into the current
literature that examines the role of economic interests, ideas, and
institutions, and, by taking issue with the arguments of
anti-Keynesian economists, the book carries the argument that there
was and is nothing inherently contradictory about Keynesian theory
or much of its practice. Keynesianism, its imperfections
notwithstanding, was overturned because of a powerful alliance of
interests and ideas.
General
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