January 18, 2008

The Economic Policies of Keynes

To the Editor:

J. Bradford DeLong's "Creative Destruction's Reconstruction: Joseph Schumpeter Revisited" (The Chronicle Review, December 7) presents a generally sound overview of Schumpeter's economics work. However, there is no support for DeLong's claim that "Keynes's The General Theory of Employment, Interest and Money says that demand management through fiscal and monetary policy can make Say's Law true in practice even though it is false in theory."

In a published review of