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The Indefatigable Efforts of J. M. Keynes

Summary:
This is an extract from an article written for The Times Literary Supplement From TLSThe international and financial dimensions of Keynes’ work are today neglected in favour of the laissez-faire economics that Keynes had so vigorously contested. His profession is dominated by economists concerned overwhelmingly with the activities of individuals, households and firms. Management of the macroeconomy and of financial globalization is left largely to investors and speculators in capital markets, with central bankers playing a supportive, interventionist role.  This has led to a form of financial anarchy, backed and guaranteed by public institutions and their taxpayers. Worse, it has led to increasingly frequent financial crises. These began first on the fringes of the global economy (in the

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This is an extract from an article written for The Times Literary Supplement

The Indefatigable Efforts of J. M. Keynes
From TLS

The international and financial dimensions of Keynes’ work are today neglected in favour of the laissez-faire economics that Keynes had so vigorously contested. His profession is dominated by economists concerned overwhelmingly with the activities of individuals, households and firms. Management of the macroeconomy and of financial globalization is left largely to investors and speculators in capital markets, with central bankers playing a supportive, interventionist role.  This has led to a form of financial anarchy, backed and guaranteed by public institutions and their taxpayers. Worse, it has led to increasingly frequent financial crises. These began first on the fringes of the global economy (in the 1970s and 80s), but in 2007–9 moved to its core, the US and Europe.

Ann Pettifor
I’m Ann Pettifor, author and analyst of the global financial system, and co-author of The Green New Deal (2008). I predicted an Anglo-American debt-deflationary crisis back in 2003, and in September, 2006 published The Coming First World Debt Crisis (Palgrave). I am known for my work on the sovereign debts of low income countries and for leading an international movement for the cancellation of debts, Jubilee 2000.

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