Boom and Bust: State Policy and the Economics of Restructuring

Cy Gonick

Abstract


During the high holiday of the post-war era, most economists credited twenty-five years of "near full-employment" to the Triumph of Keynes and his Idea. Now, in the low period, the new breed of New Right economists holds Keynesianism responsible for destroying the constraints on unbalanced budgets and thus opening the way to all the horrors of the contemporary scene. Many Marxists also credit Keynesianism with the long prosperity, only to have it end up creating new contradictions bringing about the crisis of the fiscal state.

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Studies in Political Economy:
Online ISSN 1918-7033
Print ISSN 0707-8552