Robertson and Keynes: Parallels and Differences

Abstract

The Robertson—Keynes controversy, which came to dominate the latter years of the 1930s, arose out of the different directions taken by the two protagonists following the meeting of minds over BPPL. Robertson’s path lay, as we have seen, in the refinement and restatement of his theoretical apparatus and in setting out its policy implications to meet contemporary needs. Though the theory itself was innovative and intellectually productive and the policy recommendations appropriate to the extraordinary economic situation, it was all well within the, relatively modest, scope of his economic vision.