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Appears in Collections:Economics Journal Articles
Peer Review Status: Refereed
Title: Keynes, the Long Run and the Present Crisis
Authors: Chick, Victoria
Dow, Sheila
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Keywords: capitalism
Issue Date: Apr-2013
Publisher: Taylor and Francis
Citation: Chick V & Dow S (2013) Keynes, the Long Run and the Present Crisis, International Journal of Political Economy, 42 (1), pp. 13-25.
Abstract: Keynes was always alert to the fact that capitalism, though in his mind the most efficient form of economic organization, was flawed in many respects and often offered its participants no incentive to rearrange matters to bring about a better outcome. In this paper the authors briefly review some of his schemes to illustrate the general shape of his thinking on the flaws of capitalism and their correctives, and then expand on one of his concerns- that over time the marginal efficiency of capital is likely to fall-and show its relevance to the present crisis. They explore his solution, the social control of investment, discuss problems of implementation, and conclude with some general remarks on the future of capitalism.
Type: Journal Article
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Rights: The publisher does not allow this work to be made publicly available in this Repository. Please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study.
Affiliation: University College London

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