Austerity thinking retreated into moralizing by the mid-1940s rather than engaging Keynes.

Evidence

Indeed, rather than engaging Keynes and his ideas directly, Capitalism, Socialism and Democracy abrogates a robust defense of liberalism in favor of a lengthy discussion of Marx and a bureaucratic-cultural explanation as to why capitalism will inevitably be replaced by socialism. His argument is worth retelling since it shows the dead end that Anglo-American austerity thinking found itself in by the mid-1940s. Rather than engage, it retreated into moral commentary and “fin de siècle” certitudes. — Mark Blyth, Austerity, 348

Categorization

• XREF: Austerity’s retreat from direct engagement into moral-certitude echoes the ideational insulation Blyth describes throughout; connects to Mattei’s account of austerity’s enduring appeal. — connects to: Conservatives abandoned austerity as an intellectual argument once Keynesianism triumphed — Mark Blyth, Austerity: The History of a Dangerous…, 352

Broader Connections

• Conservatives abandoned austerity as an intellectual argument once Keynesianism triumphed #expands (0.75) — Mark Blyth, Austerity, 352