Ernest Mandel, "Why Keynes Isn’t the Answer" (1992)
“
The historical balance sheet of Keynesian policy is clear. The most extensive experiment, Roosevelt’s New Deal in the United States during the 1930s, ended in failure.
— Ernest Mandel
What It Means
This is a placeholder explanation generated by the low-overhead model. It interprets "The historical balance sheet of Keynesian policy is clear. The most extensive experiment, Roosevelt’s New Deal in the United States during the 1930s, ended in failure." in the context of "Ernest Mandel, "Why Keynes Isn’t the Answer" (1992)" to mean that wisdom is timeless.
Source: Wikiquote: "John Maynard Keynes" (Quotes about Keynes: Sorted alphabetically by author or source)
The 'What it means' explanation text was generated by Google Gemini Flash (accessed January 18, 2026). https://gemini.google.com/app
Tags
About John Maynard Keynes
John Maynard Keynes, 1st Baron Keynes of Tilton (5 June 1883 – 21 April 1946) was a British economist whose ideas, known as Keynesian economics, had a major impact on modern economic and political theory and on many governments' fiscal policies.
About John Maynard Keynes
John Maynard Keynes, 1st Baron Keynes of Tilton (5 June 1883 – 21 April 1946) was a British economist whose ideas, known as Keynesian economics, had a major impact on modern economic and political theory and on many governments' fiscal policies.
View all quotes →