In histories of Western political economy in the 1970s–1980s, Keynesianism is conventionally depicted as a victim of neoliberal ascendancy. Building on revisionist scholarship, this article looks beyond neoliberalism to explain the fate of Keynesianism in the transforming political economy of the United Kingdom in its global contexts. It explores a neglected case study: the intense controversies sparked by the Keynesian policy makers Wynne Godley and Francis Cripps. Responding to stagflation and strikes, Godley and Cripps demanded sweeping import controls to forestall mass unemployment and reverse Britain’s ‘decline’. They became celebrity economists, attracting admiration and opprobrium from government ministers and officials, political parties, journalists, and the City. Their arguments raised thorny questions, not just over economic policy, but also over Britain’s domestic statecraft and geopolitical relations after empire, during the Cold War, and inside the European Community. Revisiting these debates underscores the destabilizing impact of de-industrialization. It also reveals that (geo)political calculation determined the fate of Keynesian policy making more directly than neoliberal ideology. Godley and Cripps’s failure therefore illuminates a deeper political dilemma for fin-de-siècle Keynesians across Europe: upon which territorial order could they, and should they, exercise demand management as globalization accelerated? This question continues to shape Western politics in the twenty-first century.

中文翻译：

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英国凯恩斯主义的政治危机，1973-1983 年

在 1970 年代至 1980 年代的西方政治经济学史中，凯恩斯主义通常被描绘成新自由主义占主导地位的受害者。以修正主义学术为基础，本文超越了新自由主义，解释了凯恩斯主义在全球背景下英国政治经济转型中的命运。它探讨了一个被忽视的案例研究：凯恩斯主义政策制定者韦恩·戈德利（Wynne Godley）和弗朗西斯·克里普斯（Francis Cripps）引发的激烈争论。为了应对滞胀和罢工，戈德利和克里普斯要求实施全面的进口管制，以防止大规模失业并扭转英国的“衰落”。他们成为名人经济学家，招致了政府部长和官员、政党、记者和纽约市的钦佩和批评。他们的争论引发了棘手的问题，不仅涉及经济政策，还涉及英国在帝国之后、冷战期间以及欧洲共同体内部的国内治国方略和地缘政治关系。重新审视这些辩论凸显了去工业化的不稳定影响。它还揭示了（地缘）政治计算比新自由主义意识形态更直接地决定了凯恩斯主义政策制定的命运。因此，戈德利和克里普斯的失败揭示了整个欧洲世纪末凯恩斯主义者更深层次的政治困境：随着全球化的加速，他们能够以及应该根据什么样的领土秩序进行需求管理？这个问题继续影响着 21 世纪的西方政治。