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The Keynesian Revolution in the Making, 1924–1936$
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Peter Clarke

Print publication date: 1990

Print ISBN-13: 9780198202196

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198202196.001.0001

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Prologue to Part III

Prologue to Part III

Chapter:
(p.72) (p.73) Prologue to Part III
Source:
The Keynesian Revolution in the Making, 1924–1936
Author(s):

Peter Clarke

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198202196.003.0006

With Lloyd George's pledge to conquer unemployment, public works became a central policy issue. The late 1920s were the most active period of Keynes's political career and his initiatives in policy dragged along a justifying body of theory in their wake — sometimes improvised on the spot. These efforts culminated in the 1929 General Election, when the Liberals failed to break through, and a minority Labour Government took office under Ramsay MacDonald. One result was the appointment of the Macmillan Committee, with Keynes in a key role. The establishment of the Economic Advisory Committee, and particularly its committee of economists, meant that expert advice on policy acquired a new prominence. Keynes was at the heart of all these discussions.

Keywords:   Lloyd George, unemployment, public works, Macmillan Committee, General Election, Ramsay MacDonald

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