In the Long Run We Are All Dead by Geoff Mann
Keynesianism, Political Economy, and Revolution

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Synopsis

A groundbreaking debunking of moderate attempts to resolve financial crises

In the ruins of the 2007–2008 financial crisis, self-proclaimed progressives the world over clamored to resurrect the economic theory of John Maynard Keynes. The crisis seemed to expose the disaster of small-state, free-market liberalization and deregulation. Keynesian political economy, in contrast, could put the state back at the heart of the economy and arm it with the knowledge needed to rescue us. But what it was supposed to rescue us from was not so clear. Was it the end of capitalism or the end of the world? For Keynesianism, the answer is both. Keynesians are not and never have been out to save capitalism, but rather to save civilization from itself. It is political economy, they promise, for the world in which we actually live: a world in which prices are “sticky,” information is “asymmetrical,” and uncertainty inescapable. In this world, things will definitely not take care of themselves in the long run. Poverty is ineradicable, markets fail, and revolutions lead to tyranny. Keynesianism is thus modern liberalism’s most persuasive internal critique, meeting two centuries of crisis with a proposal for capital without capitalism and revolution without revolutionaries.

If our current crises have renewed Keynesianism for so many, it is less because the present is worth saving, than because the future seems out of control. In that situation, Keynesianism is a perfect fit: a faith for the faithless.
 

About Geoff Mann

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Geoff Mann lives with his partner and sons in Vancouver BC. He teaches political economy and economic geography at Simon Fraser University, where he directs the Centre for Global Political Economy. His book Our Daily Bread: Wages, Workers and the Political Economy of the American West (UNC, 2007) won the Paul Sweezy Prize from the American Sociological Association and the Michael S. Harrington Award from the American Political Science Association, and his writing on capitalism has appeared in New Left Review and Historical Materialism, among other journals. His current research concerns the politics of macroeconomic policy, and he is presently completing a book on the many lives of Keynesianism.
 
Published January 24, 2017 by Verso. 432 pages
Genres: Business & Economics, Political & Social Sciences. Non-fiction

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They condition economists to argue, without irony, in their roles as professors, private consultants, and high-ranking public employees, that they have special expertise in setting economic policy, but also that the most reasonable economic policy is no economic policy.

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