Robert Lekachman

Robert Lekachman

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Robert Lekachman was an economist known for his extensive advocacy of state intervention
Planned economy
A planned economy is an economic system in which decisions regarding production and investment are embodied in a plan formulated by a central authority, usually by a government agency...

, and for a debating style characterized by slow, sing-song speech and circumlocution
Circumlocution is an ambiguous or roundabout figure of speech...


Lekachman was also noted for an interpretation of Keynes
John Maynard Keynes
John Maynard Keynes, Baron Keynes of Tilton, CB FBA , was a British economist whose ideas have profoundly affected the theory and practice of modern macroeconomics, as well as the economic policies of governments...

's General Theory
General Theory of Employment Interest and Money
The General Theory of Employment, Interest and Money was written by the English economist John Maynard Keynes. The book, generally considered to be his magnum opus, is largely credited with creating the terminology and shape of modern macroeconomics...

that made central its rejection of Say's Law
Say's law
Say's law, or the law of market, is an economic principle of classical economics named after the French businessman and economist Jean-Baptiste Say , who stated that "products are paid for with products" and "a glut can take place only when there are too many means of production applied to one kind...

 (in favor of Walras' law
Walras' law
Walras’ Law is a principle in general equilibrium theory asserting that when considering any particular market, if all other markets in an economy are in equilibrium, then that specific market must also be in equilibrium. Walras’ Law hinges on the mathematical notion that excess market demands ...


Books by Lekachman

  • Capitalism for beginners.
  • The Age of Keynes.
  • Greed Is Not Enough Reaganomics.
  • Economists at bay : why the experts will never agree.
  • Inflation: the permanent problem of boom and bust.
  • A history of economic ideas.
  • Visions and nightmares : America after Reagan.
  • National income and the public welfare.
  • Keynes and the classics.
  • Keynes's General Theory: Reports of Three Decades.