Understanding the Economic Crisis

Readers of The New York Review are familiar with Professor Heilbroner’s style—the wide sweep, the eloquence, the sharp, original observations. This little book, enlarged from an article in The New Yorker, should spread his influence further. “Another worldwide crisis of capitalism is upon us,” he begins. “From its earliest days, …

Michal Kalecki: A Neglected Prophet

In the natural sciences it is common enough for the same discovery to come almost simultaneously from two independent sources. As a subject develops it throws up a new problem and two equally original minds find the same answer, which turns out to be validated by further work. In the …

Smoothing Out Keynes

The subtitle of this book is The Life, times, thought and triumph of the greatest economist of our age. The story leads up to the tax cuts of 1965 and ends with the suggestion that the United States will live happily ever afterwards in Keynesian full employment. The life is …