Keynes Today

Revolutions do not consolidate until they blend with the establishment to create a new world. Keynes understood it, and that is why he titled his masterwork The General Theory. But he was unsuccessful in the blending. In 2020-21, it is argued in here, we all follow Keynes, but with insufficient theoretical support. This manuscript suggests that contemporary developments in economics in several areas, such as general equilibrium, game theory, informational economics, and institutional economics provide a road to successfully blend Keynes with traditional and contemporary neoclassical economics. Keynes wrote almost one hundred years ago; in the recent crises it has been necessary to follow his economic advice. But we argue in here, that it is not enough. This book proposes that it is time for new ideas and renovated institutional designs.