Search results
Results from the WOW.Com Content Network
The thesis of post-war consensus was most fully developed by Paul Addison. [5] The basic argument is that in the 1930s Liberal intellectuals led by John Maynard Keynes and William Beveridge developed a series of plans that became especially attractive as the wartime government promised a much better post-war Britain and saw the need to engage every sector of society.
John Maynard Keynes (right) and Harry Dexter White at the Bretton Woods Conference in 1944. The post-war displacement of Keynesianism was a series of events which from mostly unobserved beginnings in the late 1940s, had by the early 1980s led to the replacement of Keynesian economics as the leading theoretical influence on economic life in the developed world.
This was especially the case in Britain and was called the post-war consensus, with a similar though somewhat less Keynesian consensus existing elsewhere, including in the United States. [ 27 ] Marxist scholars tend to broadly agree with the mainstream view, though they emphasise embedded liberalism as a compromise between class interests ...
This post-war domination by neo-Keynesian economics was broken during the stagflation of the 1970s. [102] There was a lack of consensus among macroeconomists in the 1980s, and during this period New Keynesian economics was developed, ultimately becoming- along with new classical macroeconomics - a part of the current consensus, known as the new ...
After World War II, many countries adopted policies of economic liberalization in order to stimulate their economies.. The period directly after the war did not see many, the most notable exception being West Germany's reforms of 1948, which set the stage for the Wirtschaftswunder in the 1950s and helped inform many of the liberalisations that were to come.
The post–World War II economic expansion, also known as the postwar economic boom or the Golden Age of Capitalism, [1] [2] was a broad period of worldwide economic expansion beginning with the aftermath of World War II and ending with the 1973–1975 recession. [1]
The post-war consensus is a historians' model of political agreement from 1945 to 1979, when newly elected Prime Minister Margaret Thatcher rejected and reversed it. [59] The concept claims there was a widespread consensus that covered support for a coherent package of policies that were developed in the 1930s, promised during the Second World ...
Post-Keynesian economics is a school of economic thought with its origins in The General Theory of John Maynard Keynes, with subsequent development influenced to a large degree by Michał Kalecki, Joan Robinson, Nicholas Kaldor, Sidney Weintraub, Paul Davidson, Piero Sraffa and Jan Kregel.