Keynes, capital mobility and the crisis of embedded liberalism

This article argues that in an era characterized by increased practical and analytical concern for the domestic consequences of international market f orces, through the study of Keynes' own writing we can better understand th e significance of the contemporary challenges to the compromise of embedded liberalism and the consequences of the possible unraveling of that order. A Keynesian interpretation of the Asian financial crisis illustrates both t he application of Keynes' philosophy of political economy and its continuin g relevance.