Keynes Essays In Biography

Keynes Essays In Biography-89
John Maynard Keynes studied at Eaton College (1897–1902) and at King’s College, Cambridge, where he received a B. John Maynard Keynes was an economic analyst in the India Office, a teacher at Cambridge, the de facto financial manager of Britain’s war effort during World War I, and (in an unpaid capacity) the country’s chief economic representative to the United States and international fora during and immediately after World War II.The basic and revolutionary idea of Keynesian economics—that recessions can be mitigated and unemployment more effectively reduced by government spending designed to increase aggregate demand—strongly influenced the fiscal policies of Western governments until the 1970s and later inspired successful responses by many governments to the Great Recession of 2007–09.

John Maynard Keynes studied at Eaton College (1897–1902) and at King’s College, Cambridge, where he received a B. John Maynard Keynes was an economic analyst in the India Office, a teacher at Cambridge, the de facto financial manager of Britain’s war effort during World War I, and (in an unpaid capacity) the country’s chief economic representative to the United States and international fora during and immediately after World War II.The basic and revolutionary idea of Keynesian economics—that recessions can be mitigated and unemployment more effectively reduced by government spending designed to increase aggregate demand—strongly influenced the fiscal policies of Western governments until the 1970s and later inspired successful responses by many governments to the Great Recession of 2007–09.

Most of the essays in this book were first collected and published in 1933, when Keynes had reached a turning point in a highly successful career as an academic economist, as an official economic advisor, opponent of the reparation imposed on Germany and critic of the orthodox economic policies of British governments.

Before devoting himself fully to the final stages of his journey towards The General Theory, Keynes put together these examples of one of his favourite literary genres, the psychological portrait and biographical sketch.

His mother was one of the first female graduates of the same university, which Keynes entered in 1902.

Alfred Marshall, who prompted Keynes to shift his academic interests from mathematics and the classics to politics and economics.

With the onset of World War I, Keynes returned to government employment, this time in the Treasury (an agency even more powerful than its American counterpart), where he studied relations with allies and recommended means of conserving Britain’s scant supply of foreign currencies.

David Lloyd George to France as an economic adviser, Keynes was troubled by the political chicanery and burdensome policies that were to be imposed upon the defeated Germany.

The Keynesian model was a core part of economics textbooks from the late 1940s until the late 1980s.

But as economists have become more concerned about economic growth, and more informed about inflation and unemployment, the Keynesian model has lost Keynes’s last major written work.

The permanent importance of this polemical essay lies in its economic analysis of the stringent reparations placed upon Germany and the corresponding lack of probability that the debts would ever be paid.

The popular success of the book, however, came from the blistering sketches of Woodrow Wilson, Georges Clemenceau, and Keynes’s old chief, Lloyd George.

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