John Maynard Keynes has never been so popular. The name of this world famous British economist, who died in 1946, is on everyone’s lips these days, including Gordon Brown’s.

However, Keynes’s ideas are often misrepresented, or misunderstood, by both Left and Right in politics.

The Left believes his economic strictures are for all occasions, when they were proposed for slump conditions only. The Right thinks his views were Marxist and should never soil their delicate monetarist palette.

In fact Keynes had a lot to say about monetary policy. His flaw is that he was too broad brush on inflation, even appearing to brush it away.

Roger Bootle of Capital Economics has written an excellent summary-for-dummies on Keynes and Keynesianism in the UK’s Daily Telegraph.

Read it here

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