A NICE PRIMER ON KEYNESIAN ECONOMICS

It's by Prof. Alan S. Blinder of Princeton and does an admirable job explaining the key tenets and modern interpretations of Keynes. Here's a crucial excerpt:

Keynesian theory was much denigrated in academic circles from the mid-1970s until the mid-1980s. It has staged a strong comeback since then, however. The main reason appears to be that Keynesian economics was better able to explain the economic events of the 1970s and 1980s than its principal intellectual competitor, new classical economics.