Book review: Chicagonomics

Millions are spent each year on promoting neoliberal ideas worldwide. JP O’Malley reads between the lines of a subtle example of this. 

N 1936 the British economist, John Maynard Keynes, published The General Theory of Employment, Interest and Money. It revolutionised economic theory and changed the course of mid 20th century history.

Before Keynes, conversations about money, public spending, and taxation were dominated by classical economists; they argued that most economic problems could be fixed if the forces of supply and demand in an untrammelled market were simply allowed to work their magic.