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The Keynesian Revolution in the Making, 1924–1936$
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Peter Clarke

Print publication date: 1990

Print ISBN-13: 9780198202196

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198202196.001.0001

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The Story of an argument

(p.2) (p.3) Prologue
The Keynesian Revolution in the Making, 1924–1936

Peter Clarke

Oxford University Press

This book tells the story of an argument. The argument arose out of the performance of the British economy in the period of depression between the two World Wars. In the first place, it was an argument about policy, and as such, it naturally involved assessing what it was administratively feasible and technically sensible for government to attempt. Secondly, it was at crucial stages a political argument, challenging the conventional view of the economic role of the state and bringing political parties into electoral competition over their rival approaches. Thirdly, it became an argument about economic theory, as the analysis of unemployment itself emerged as a professionally contentious matter. Keynes played a central role in each of these overlapping disputes and this book is conceived as an effort to understand his ideas.

Keywords:   British economy, Keynes, World Wars, electoral competition, political parties

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