Keynes and Different Cultures

Most Keynesian economics makes good sense to Tyler Cowen but he admits the principles adhered to in Germany might be better than Keynesian alternatives. It’s one of the world’s most successful countries yet “Keynesianism has failed to influence either German policy or German public opinion.” “I’m a fan of the northern European social democracies, but in part they succeed because those countries don’t follow all of the prescriptions you might hear coming from their boosters in the United States,” says Cowen. “The cultural elements of the current Keynesian debates remain underexplored in the United States, but they are fairly well understood in Germany.”