"...Maynard Keynes' revenge is simple. He was correct about how to do macroeconomics. Initial information and then revolution against his ideas beginning in the 1940s were misleading and often wrong..."
Lance Taylor, Professor of International Cooperation and Development at the New School for Social Research, argues that the ideas of J. M. Keynes and others provide a more useful framework both for understanding the crisis and for dealing with it effectively. Keynes’s basic points were fundamental uncertainty and the absence of Say’s Law. Read more