Democracy in Deficit: The Political Legacy of Lord Keynes

James M. Buchanan.
Buchanan, James M. and Richard E. Wagner
(1919- )
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First Pub. Date
Indianapolis, IN: Liberty Fund, Inc.
Pub. Date
Foreword by Robert D. Tollison.
The text of this edition is copyright ©: 1977 by Academic Press, Inc. Foreword and coauthor note ©: 2000 Liberty Fund, Inc. Picture of James M. Buchanan and Richard E. Wagner: File photo detail, courtesy Liberty Fund, Inc. James M. Buchanan and Richard E. Wagner, Big Sky, Montana.
About this Book

The economics of Keynes has been exhaustively discussed, in the popular press, in elementary textbooks, and in learned treatises. By contrast, the politics of Keynes and Keynesianism has been treated sketchily and indirectly, if at all. This is surprising, especially in the light of accumulating evidence that tends to support the hypotheses that may be derived from elementary analysis. Our purpose is to fill this void, at least to the extent of initiating a dialogue. We shall advance our argument boldly, in part because our central objective is to introduce a different aspect of Keynesianism for critical analysis. Those who feel obligated to respond to our prescriptive diagnosis of economic-political reality must do so by taking into account elements that have hitherto been left unexamined.... [From the Preface]