Published online by Cambridge University Press: 30 August 2005
‘[P]ower of vested interests is vastly exaggerated compared with the gradual encroachment of ideas…. The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else.’ (John Maynard Keynes, 1964[1936], 383)