Diminishing and Diminished Returns on Keynesian Stimulus? A Historical Perspective
11 Pages Posted: 1 Mar 2022
Date Written: January 10, 2022
Abstract
This paper, in response to the renewed fashion for Keynesian policy, discusses the special mid-century circumstances associated with Keynesianism's greatest period of success, and the contrast it makes with the present, stressing in particular the ways in which the neoliberal shift has come on top of other developments to greatly diminish the effectiveness of Keynesian macroeconomic action relative to earlier periods.
Keywords: Keynesianism, Keynesian Theory, Neoliberal Financialization, Economic History, Political Economy, Neoliberalism, Post-COVID-19 Economic Shock, U.S. Economic History
Suggested Citation: Suggested Citation
Elhefnawy, Nader, Diminishing and Diminished Returns on Keynesian Stimulus? A Historical Perspective (January 10, 2022). Available at SSRN: https://ssrn.com/abstract=4005317 or http://dx.doi.org/10.2139/ssrn.4005317
Do you have negative results from your research you’d like to share?
Feedback
Feedback to SSRN
If you need immediate assistance, call 877-SSRNHelp (877 777 6435) in the United States, or +1 212 448 2500 outside of the United States, 8:30AM to 6:00PM U.S. Eastern, Monday - Friday.