Keynes Against Capitalism

It is almost universally believed that Keynes wrote his magnum opus, The General Theory of Employment, Interest and Money to save capitalism from the socialist, communist, and fascist forces that were rising up during the Great Depression era. On the contrary, this book argues that this was not the case with respect to socialism.

1. Introduction: was Keynes Trying to Save Capitalism or Create "Liberal Socialism"?. Part I: From The Economic Consequences of the Peace to The General Theory. 2. The Economic Consequences of the Peace: 1919. 3. Making Sense of Chaos: 1919-1923. 4. Public Investment and State Planning in 1924: The Real Keynesian Revolution Begins. 5. The Return to Gold in 1925: Deflation, Social Justice, and Class Struggle. 6. Three Important "Essays in Persuasion" on the Proper Economic Role of the State: 1925-1926. 7. Destructive Competition, Corporatism, Industrial Policy, and the New Economic Role of the State: 1927-1928. 8. Britain's Industrial Future and the Board of National Investment: A Detailed Analysis of the Institutions to Be Used by the State to Regulate Capital Accumulation in Pursuit of Full Employment under Liberal Socialism. 9. On the Edge of the Great Depression: Keynes Continues His Efforts to Gain Political Support for the Radical Policies in Britain's Industrial Future. 10. Keynes on "Insane" Financial Markets and the Emergence of Stagnation in the USA in the Early 1930s. 11. National Self-Sufficiency: 1933. Part II: The General Theory: The Ultimate Defense in Theory of Keynes's Radical Policy Agenda. 12. Methodology and Ideology: Keynes Versus the Classicists. 13. The Priority of High-Unemployment Long-Run Equilibrium or "Secular Stagnation" in The General Theory. 14. Upon Further Reflection: Keynes on Secular Stagnation in 1937. 15. Keynes Versus the Classicists on the Effects of Wage and Price Deflation. 16. Keynes Versus the Classicists on Disequilibrium Processes in the Bond Market. 17. Chapter 12 of The General Theory: The "Insane" Stock Market, Capital Investment, and Instability. 18. The Theory of the Business Cycle in Chapter 22: Integrating the Profit Rate and the Bond and Stock Markets in a Theory of Financial and Economic Instability. 19. Are the "Models" Keynes Created in The General Theory Compatible with the IS/LM Interpretation of the Book: A Digression. 20. Keynes's Radical Policy Views in The General Theory. Part III: State Planning, Public Investment, and Liberal Socialism After The General Theory. 21. From The General Theory Until Britain Entered WWII: 1936-1939. 22. Keynes and Government Postwar Economic Planning for "Liberal Socialism" During the War: 1939-1945. 23. Thoughts on the Relevance of Keynes's Work to Solving Today's Economic Problems: The Society-Economy Nexus, Methodology, Theory, and Policy. References. Index