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The Fall and Rise of Keynesian Economics$
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John Eatwell and Murray Milgate

Print publication date: 2011

Print ISBN-13: 9780199777693

Published to Oxford Scholarship Online: April 2015

DOI: 10.1093/acprof:osobl/9780199777693.001.0001

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Keynesian Economic Theory and European Society

Keynesian Economic Theory and European Society

(p.339) 17 Keynesian Economic Theory and European Society
The Fall and Rise of Keynesian Economics

John Eatwell

Murray Milgate

Oxford University Press

This chapter highlights the ways in which economic theory has exerted its influence and indicates how it may help in explaining the past course and future prospects of European society. It begins by describing the role John Maynard Keynes and Keynesianism played in setting the agenda of social democracy and political discourse in Europe. This is followed by a discussion of how Keynesian ideas have penetrated the popular consciousness of Europeans. The chapter concludes with an analysis of speculations whether Western Europe will remain influenced by Keynes’s contributions to economic theory.

Keywords:   economic theory, European society, John Maynard Keynes, Keynesianism, social democracy, political discourse, Keynesian ideas, Western Europe

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