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'A convincing and comprehensive account of the success and ultimate
failure of Keynesianism in Australia ... Essential reading, not
only for other doughty fighters but for skeptics and critics as
well' - G.C. Harcourt 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.
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.
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