Topic: Why were Keynes”s policy ideas so difficult to accept in the 1930s?
1.The essay must at least contain these reasons below and these reasons are
the emphases of this essay:
Keynes never wrote the General theory until 1936 (the book which contained
the theoretical basis for his ideas). His ideas were difficult to accept in
the early 30s (the worst years of the depression) since this theoretical
basis was absent during this time.
The ideas were difficult to accept due to the dominance of the ideas of the
”classical” economists. These ideas had prevailed for a long time in Europe
and elsewhere. Maybe since these ideas had been established for so long
(coupled with the fact that Keynes” ideas were so new), policy choices
(i.e. on-intervention) based upon them were ”easier” for governments to
follow.
Looked broadly at the political situation in Europe at this time. Then
considered the possibility that Keynes ideas were difficult to accept due
to the polarisation of opinion that existed at the time. That is, Keynes
ideas represented a sort of middle ground between a totally planned
communist systems and a completely free capitalist model. Keynes” ideas
were therefore difficult to accept since they lacked political backing.
Whether other economists, politicians, people etc understood the ideas of
Keynes. If they didn”t understand them then how could they accept them?
Use some examples from different European countries to emphasise these
points. There was a lot a changes happening in Europe during this time!
2. This essay is about subject of ? Idea of Europe?, not ?economics?
This course?s aims are:
To achieve an understanding of Europe in a wide historic sense.
To appreciate the forces – international and ”local” – shaping East and
West Europe in the post-war period.
To generate deeper understanding of contemporary European issues.
To set a context for understanding future economic, political and social
developments in Europe
To develop students” investigative skills and to introduce students to the
principal sources of information on Europe.
Please pay attention to these.
3.This essay is for Europe, not USA or other countries. So when you write
it, Please consider the European situation. And please do not cite from
American books.
4. Please do not copy from any books and Internet material. Because my
professor have read a lot of books. If you copy from the books, my
professor will know it.
5. My first language is not English. So when you write the essay, please
use the simple words and sentences.
6.Please use books I listed below. Do not use other books.
My professor recommended me to read these books:
Donald Winch, Economics & Policy, (Fontana, 1969) chs 8 and 11.
Guy Routh, The Origin of Economic Ideas, ch 6.
Keynes and after, Michael Stewart, chs3 and 6 especially,1986, penguin
books ltd
Essays on John Maynard Keynes, Milo Keynes, 1975, Cambridge University
press
The rise and fall of Keynesian economics, Michael Bleaney, 1985, Macmillan
publishers ltd
Economics, David Begg, 2000
The Keynesian Revolution, Lawrence r. Klein, 1966, the Macmillan Press Ltd
The Keynesian Revolution In The Making, 1924-1936, peter Clarke, Clarendon
press. Oxford
The Fontana economic history of Europe- The twentieth century, Carlo M,
Cipolla, William Collins Sons & Co Ltd Glasgow
The European Economy Growth & Crisis, Andrea Bolatho, Oxford University
Press, 1982
Europe Economic History, Mereantilism to Maastricht and beyond, Copenhagen
Business School Press
An Economic History of Continental Europe 1918-1945, Roger Munting and B.A.
Holderness, Philip Allan, 1991
