Keynes and economic development

Abstract

It is argued in this paper that although Keynes was not a development economist in the conventional sense, his theoretical apparatus and thinking about how capitalist economies function, and his proposals at Bretton Woods in 1944 for a new international monetary order, have relevance for the debates that take place today in development economics, particularly regarding financial liberalisation, the role of government in achieving full employment and the consequences on primary product price instability.