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Keynes and Economic Development

In: Essays on Keynesian and Kaldorian Economics

Author

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  • A. P. Thirlwall

    (University of Kent)

Abstract

Keynes was not a development economist as the description is used today. He did not address directly issues of national or international poverty and income distribution; only indirectly through his focus on unemployment which has always been, and remains, a major cause of poverty in both developed and developing countries. It is no accident that the one billion workers identified by the International Labour Organisation (ILO) in Geneva as unemployed and underemployed matches almost exactly the one billion people measured by the World Bank as living in extreme poverty on less than $1 a day. They are more or less the same people.

Suggested Citation

  • A. P. Thirlwall, 2015. "Keynes and Economic Development," Palgrave Studies in the History of Economic Thought, in: Essays on Keynesian and Kaldorian Economics, chapter 7, pages 178-191, Palgrave Macmillan.
    • Handle: RePEc:pal:pshchp:978-1-137-40948-5_8
    DOI: 10.1057/9781137409485_8
    as

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