Keynes and Russia: in the Long Run Economic Theory is Always in transition
Abstract
This article examines the many strands of J. M. Keynes’s engagement with Russia and the USSR. It documents Keynes’s policy involvements with Russian economic affairs, and also the influence of socialist ideas and realities on the development of Keynes’s own economic theory. It suggests that the USSR was a bigger influence on the «General Theory» than is usually acknowledged in the academic literature, but it concludes that Keynes’s own theoretical framework is of little use in understanding post-Soviet developments.
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History of Economic Thought
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Articles of the St Petersburg University Journal of Economic Studies are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.