Are we all Keynesians?

Vol. 30 No. 2 (2010)

Apr-Jun / 2010
Published April 1, 2010

How to Cite

Lavoie, Marc. 2017. “Are We All Keynesians?”. Brazilian Journal of Political Economy 30 (2):189-200.

Are we all Keynesians?

Marc Lavoie
Department of Economics, University of Ottawa
Brazilian Journal of Political Economy, Vol. 30 No. 2 (2010), Apr-Jun / 2010, Pages 189-200


This essay asks whether we are all becoming Keynesians again. It offers some thoughts about the impact of the financial crisis on macroeconomic theory and Keynesian theory, and on post-Keynesian theory in particular. It is argued that the crisis does have obvious effects on how Keynesianism is being perceived by decision makers, and that some effects are also observed on academia. However, there are forces within the economics profession and the population at large which are resistant to this second coming of the Keynesian revolution.

JEL classification: B4; B5.

Keywords: keynesianism financial crisis macroeconomics counter revolution