There are various paths out of the crises we face today, but the Keynesian one is the most promising. That’s what says the chief economist to former vice president Joe Biden, senior fellow at the Center on Budget and Policy Priorities. Dal Washington Post.
If, like me, you feel like our nation is going through hell right now, then you might also agree that it’s a good time to recall the admonition, “When you’re going through hell, keep going.” But where are we to go? What is the best path out of our intersecting crises: pandemic, recession and violent, structural racism?
For that, I recommend turning to the renowned British economist John Maynard Keynes. I’ve been reading Zachary D. Carter’s excellent new biography of Keynes, finding the book and Keynes’s ideas remarkably timely. Keynes’s towering body of work points toward a more inclusive economy and society, one that throws off the yoke of dominant assumptions that, 74 years after Keynes’s death, still repress functional, representative democracy.