Keynes's Interpretation and Response to the Great Depression A Look at an Evolutionary Stage for Capitalism

Abstract

This article uses broadcasts, lectures and newspaper pieces published by John Maynard Keynes from 1930 through 1934 to analyze how Keynes’s holistic perception of the Great Depression and proposed solution outlined an evolutionary way of approaching an economic crisis. I argue Keynes aided the progression of the economic system to solve the problems of Capitalism by appealing to the needs of businesses and workers. The research done for this paper was conducted at King’s College, Cambridge and so the majority of sources referenced throughout this paper are a part of the Keynes Papers found in the King’s College Archives. The discovery of such sources would not have been possible without the generosity of the Bemis and Eisner Summer Research Scholarship as well as the help from Professor Steven Fazzari and the King’s College archivists, Peter and Patricia.