The Myths and Realities of Conservative Economic Policy-Making in the US

The post-World War II period in the US saw the emergence of what has been characterized as a Keynesian Social Democratic State or Keynesian Consensus.1 This Consensus, however, after reaching its zenith in the 1960s, proved to be fragile, and it was unable to survive the economic events of the following decade. Conservatives, of course, were not slow to lay the blame for the economic maladies of the US economy in the 1970s at the door of Keynesian interventionism, and the steady erosion of faith in the Keynesian Consensus was ultimately to be politically most significant for the Democrats as it decisively eroded their support since they were the party whose agenda was most closely associated with the Consensus

Blame · Democracy · Development economics · Economics · Faith · Interventionism (politics) · Keynesian economics · Mythology · Political economy · Political science · Politics · Economic Theory and Institutions · Economic Theory and Policy · Housing, Finance, and Neoliberalism · Law

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