Europe Seen Avoiding Keynes’s Cure for Recession (Published 2010)

Demonstrators in London marched on Wednesday against the $130 billion in spending cuts proposed by the government.Credit...Andrew Testa for The New York Times LONDON � The British economist John Maynard Keynes may live on in popular legend as the world’s most influential economist. But in much of Europe, and most acutely here in the land of his birth, his view that deficit spending by governments

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“In the U.S., central bank memory is ingrained in the Depression, while in the U.K. it is being bailed out by the I.M.F.,” said Michael Saunders, an economist with Citigroup in London. “That gives policy makers different sets of priorities.”