Keynes and the Bastards

Michael Perelman michael at
Sat Aug 7 11:04:01 PDT 1999

Regarding Doug's note on Blaug, Keynes, like Hegel [I am out of my league here, but that was my superfical understanding], was not fully aware of the revolutionary implications of his ideas. The Post Keynesians take that part of Keynes that is damning to conventional theory, although they, as Doug says, are not always antagonistic to capitalism itself.

Joan Robinson was aware the Keynes' theory undermined the case for capitalism and saw his work as a stronger critique than Marx's.

The Bastards wanted to put the genie back in the bottle and make Keynes conventional.

All three contradictory approaches were faithful to parts of Keynes -- a snob who seemed to enjoy occupying the upper reaches of British society.

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

Tel. 530-898-5321 E-Mail michael at

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