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Wilhelm Röpke, John Maynard Keynes, and the Problem of Inflation



The German free-market economist and social philosopher, Wilhelm Röpke, became one of the strongest critics of John Maynard Keynes’s economic theories and propositions. This article illustrates how Röpke’s criticisms of Keynes’s thinking about inflation reflected his more general critique of Keynes’s approach to economics per se. In Röpke’s view, Keynesian economics was not driven by sound theory but rather by efforts to address particular problems, such as mass unemployment: an approach that facilitated economic ideas designed to legitimate policies that would not only have profoundly negative long-term economic consequences but also result in diminishing freedom and an increasingly coercive state.

Samuel Gregg, "Wilhelm Röpke, John Maynard Keynes, and the Problem of Inflation," Journal of Markets & Morality 20, no. 1 (Spring 2017): 141-154

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