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Was Keynes a Corporatist? Keynes’s Radical Views on Industrial Policy and Macro Policy in the 1920s

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Was Keynes a Corporatist? Keynes’s Radical Views on Industrial Policy and Macro Policy in the 1920s
Author(s)Crotty, James R.
AbstractThe traditional belief that Keynes accepted the received theory of individual markets is shown to be mistaken. The paper demonstrates that in the 1920s Keynes decisively rejected atomistic competition as an efficient market form. He argued that the government should assist the ongoing movement toward cartels, holding companies, trade associations, pools and others forms of monopoly power, then regulate all affected industries. In the 1920s at least, Keynes was unabashedly corporatist, supporting a powerful microeconomic as well as macroeconomic role for the state.
IssueNo3
Pages555-577
ArticleAccess to Article
SourceJournal of Economic Issues
VolumeNo33
PubDateSeptember1999
ISBN_ISSN0021-3624
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