Contrary Quote by Joan Robinson
“I do not regard the Keynesian revolution as a great intellectual triumph. On the contrary, it was a tragedy because it came so late. Hitler had already found out how to cure unemployment before Keynes had finished explaining why it occured.”
About This Quote
Source Book: Economic Policy: A Critical Review, 1975
Keynesian ideas arrived too late; earlier solutions existed, making its impact tragic.
In simple terms: Keynesian revolution was delayed and tragic.
Key Takeaway
Recognize timing in economic ideas.
Themes
economic history
policy analysis
timing
Mood
analytical
critical
Type
historical
theoretical
When to use this quote
- government stimulus
- employment policy
- historical economic study
Key Concepts
path dependence
policy lag
Questions to Reflect On
- What alternative solutions existed before Keynes?
- How does timing affect policy success?
A Different Perspective
Complexity of causality can oversimplify history.
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