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This updated edition takes account of new materials and new scholarship on Keynes that have appeared since 1980. It analyzes Keynes' intellectual origins and characteristic modes of thought so as to put Keynes' contributions to economics and economic policy-making into perspective.

Over its long lifetime, "political economy" has had many different meanings: the science of managing the resources of a nation so as to provide wealth to its inhabitants for Adam Smith; the study of how the ownership of the means of production influenced historical processes for Marx; the study of the inter-relationship between economics and politics for some twentieth-century commentators; and for others, a methodology emphasizing individual rationality (the economic or "public choice" approach) or institutional adaptation (the sociological version). This Handbook views political...