Keynes's General Theory, the Rate of Interest And 'Keynesian' Economics : Keynes Betrayed. Este artículo no está disponible.Keynes's General Theory, the Rate of Interest And 'Keynesian' Economics : Keynes Betrayed

This book argues that Keynesian economists have betrayed Keynes’s theory and policy conclusions. Keynesian economics has not merely led to an easily dismissed justification for ’Keynesian’ policies, but the world has been grossly misled about just what those policies are. Keynesians have focused attention exclusively on policies for dealing with effects of economic failure as they arise, whereas in contrast, Keynes was concerned with the cause and then the prevention of economic failure. While these effects can be addressed with fiscal policy, the cause and prevention was a matter for monetary policy. Keynes’s legacy is that of national and international policy measures that permit the necessary control over the financial system.

GEOFF TILY works as an economist at the Office for National Statistics, UK. He has been a member of the Government Statistical Service since 1989. He was taught economics by Victoria Chick at University College London, UK.