The Contradictions of Keynesian Economic Policy

michael perelman michael at
Fri Sep 18 09:34:28 PDT 1998

In these books, I was merely making the point that if you want capitalism, you are going to have to accept the reality of recurrent crises [forgetting semantic niceties of crises for the moment]. Keynes never saw the contradictions, and set out to save capitalism. Conservative saw Keynes as the enemy of capitalism.

Charles Brown wrote:

> But isn't it true that neither the relief of the
> pressure that could lead to a crash or
> creating further problems that may well
> lead to even more severe pressures
> are conceived in terms of throwing
> out the capitalist system, by you or
> anyone who analyzes Keynes or
> Keynesianism on its own terms ?
> Or do you put a revolutionary twist
> on Keynes ? What would be
> a revolutionary twist on Keynes ?

-- Michael Perelman Economics Department California State University Chico, CA 95929

Tel. 916-898-5321 E-Mail michael at

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