Open AccessKeynes: The second coming?
Author(s) -
Robert Skidelsky
Publication year - 2021
Publication title -
panoeconomicus
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.289
H-Index - 14
eISSN - 2217-2386
pISSN - 1452-595X
DOI - 10.2298/pan2102159s
Subject(s) - context (archaeology) , post keynesian economics , economics , inequality , keynesian economics , globalization , neoclassical economics , positive economics , history , market economy , mathematical analysis , mathematics , archaeology
This article outlines principles of a modernised macroeconomic framework, drawing on John Maynard Keynes. It explores the historical context in which Keynes? economic theory arose, and the history of its application and subsequent replacement by neoclassical economics. The article argues that any updated Keynesian programme must address three new problems: globalization, wealth inequality and climate change. It sketches out the ways in which these might be addressed.