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John Maynard Keynes (1883-1946) is perhaps the foremost economic
thinker of the twentieth century. On economic theory, he ranks with
Adam Smith and Karl Marx; and his impact on how economics was
practiced, from the Great Depression to the 1970s, was unmatched.
The General Theory of Employment, Interest and Money was first
published in 1936. But its ideas had been forming for decades ? as
a student at Cambridge, Keynes had written to a friend of his love
for 'Free Trade and free thought'. Keynes's limpid style, concise
prose, and vivid descriptions have helped to keep his ideas alive -
as have the novelty and clarity, at times even the ambiguity, of
his macroeconomic vision. He was troubled, above all, by high
unemployment rates and large disparities in wealth and income. Only
by curbing both, he thought, could individualism, 'the most
powerful instrument to better the future', be safeguarded. The
twenty-first century may yet prove him right. In The Economic
Consequences of the Peace (1919), Keynes elegantly and acutely
exposes the folly of imposing austerity on a defeated and
struggling nation.
John Maynard Keynes, then a rising young economist, participated in
the Paris Peace Conference in 1919 as chief representative of the
British Treasury and advisor to Prime Minister David Lloyd George.
He resigned after desperately trying and failing to reduce the huge
demands for reparations being made on Germany. The Economic
Consequences of the Peace is Keynes' brilliant and prophetic
analysis of the effects that the peace treaty would have both on
Germany and, even more fatefully, the world. A popular lecturer of
economics at Cambridge University and editor of the Economic
Journal, Keynes made The Economic Consequences of the Peace a major
step in his career. It was translated into a dozen languages and
sold 100,000 copies in six months. Taken seriously even by those
who were opposed to his claims, the book helped lift economics to a
new, higher level of recognition and acceptance. This volume, with
its insightful portraits of Lloyd George, Georges Clemenceau, and
Woodrow Wilson, remains one of the great works of political economy
of our time. In a penetrating introduction written for this new
edition, David Felix explores Keynes' reasons for writing the book,
analyzes the author's arguments, and paints an historical backdrop
of the period during which it was written.
John Maynard Keynes, then a rising young economist, participated
in the Paris Peace Conference in 1919 as chief representative of
the British Treasury and advisor to Prime Minister David Lloyd
George. He resigned after desperately trying and failing to reduce
the huge demands for reparations being made on Germany. The
Economic Consequences of the Peace is Keynes' brilliant and
prophetic analysis of the effects that the peace treaty would have
both on Germany and, even more fatefully, the world. A popular
lecturer of economics at Cambridge University and editor of the
Economic Journal, Keynes made The Economic Consequences of the
Peace a major step in his career. It was translated into a dozen
languages and sold 100,000 copies in six months. Taken seriously
even by those who were opposed to his claims, the book helped lift
economics to a new, higher level of recognition and acceptance.
This volume, with its insightful portraits of Lloyd George, Georges
Clemenceau, and Woodrow Wilson, remains one of the great works of
political economy of our time. In a penetrating introduction
written for this new edition, David Felix explores Keynes' reasons
for writing the book, analyzes the author's arguments, and paints
an historical backdrop of the period during which it was written.
"The most important economic document relating to World War I and
its aftermath."--John Kenneth Galbraith "This is a very great
booka. Mr. Keynes writes with a fullness of knowledge, an
incisiveness of judgment, and a penetration into the ultimate
causes of economic eventsa. The style is like finely hammered
steel. It is full of unforgettable phrases and of vivid portraits
etched in the biting acid of a passionate moral indignation."--H.
J. Laski, The Nation John Maynard Keynes (1883-1946) was one of the
greatest economic theorists of the twentieth century. He was
chairman of the liberal journal of opinion The Nation and economics
advisor for more than thirty years to British governments. He wrote
several books, including his masterpiece, The General Theory of
Employment, Interest and Money, the two-volume Treatise on Money,
and A Tract on Monetary Reform. David Felix is professor of history
emeritus at the City University of New York. His books include
Biography of an Idea: John Maynard Keynes and The General Theory of
Employment, Interest and Money and Keynes: A Critical Life.
Most of the essays in this book were first collected together in
October 1931, immediately after Britain had left the gold standard.
They reflected Keynes's attempts over the previous dozen years to
influence public opinion and policy over the Treaty of Versailles,
over which he had resigned from the Treasury in June 1919,
reparations and inter-allied war debts, stabilisation policy, the
gold standard and the shape of liberal politics in Britain. In 1972
the essays were reprinted but with the full texts of the pamphlets
he had included -- Can Lloyd George Do it?, The Economic
Consequences of Mr. Churchill, A Short View of Russia, and The End
of Laissez Faire. At that time, the full texts of his of his two
post-1931 pamphlets -- The Means to Prosperity and How to Pay for
the War -- were added. As a result the book contains examples of
Keynes's finest writing on economic policy and politics.
This book was originally published by Macmillan in 1936. It was
voted the top Academic Book that Shaped Modern Britain by Academic
Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's
top 100 non-fiction books written in English since 1923. Reissued
with a fresh Introduction by the Nobel-prize winner Paul Krugman
and a new Afterword by Keynes' biographer Robert Skidelsky, this
important work is made available to a new generation. The General
Theory of Employment, Interest and Money transformed economics and
changed the face of modern macroeconomics. Keynes' argument is
based on the idea that the level of employment is not determined by
the price of labour, but by the spending of money. It gave way to
an entirely new approach where employment, inflation and the market
economy are concerned. Highly provocative at its time of
publication, this book and Keynes' theories continue to remain the
subject of much support and praise, criticism and debate.
Economists at any stage in their career will enjoy revisiting this
treatise and observing the relevance of Keynes' work in today's
contemporary climate.
Most of the essays in this book were first collected and published
in 1933, when Keynes had reached a turning point in what had by
then become a highly successful career as an academic economist, as
an official economic advisor, opponent of the reparations 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 of Employment, Interest and
Money, Keynes put together these examples of one of his favourite
literary genres, the psychological portrait and biographical
sketch. With the additions made in 1951 and 1972, the book now
contains almost all of Keynes's biographical writings: his savage
portraits of the architects of the treaty of Versailles and
sketches of other politicians, including Asquith, Balfour, Bonar
Law, and Churchill; some classic accounts of the lives of
economists, including Malthus, Jevons, Marshall, Edgeworth, and
Foxwell; a pair of autobiographical memoirs; a short study of
Newton; and many acute and affectionate character sketches of
friends. Keynes shows himself here as a literary artist whose work
does not suffer by comparison with that of his two friends within
the Bloomsbury Group, Virgina Woolf and Lytton Strachey.
Essays In Persuasion written by legendary author John Maynard
Keynes is widely considered to be one of the top 100 greatest books
of all time. This great classic will surely attract a whole new
generation of readers. For many, Essays In Persuasion is required
reading for various courses and curriculums. And for others who
simply enjoy reading timeless piees of classic literature, this gem
by John Maynard Keynes is highly recommended. Published by Classic
House Books and beautifully produced, Essays In Persuasion would
make an ideal gift and it should be a part of everyone's personal
library.
Distinguished British economist John Maynard Keynes (1883-1946) set
off a series of movements that dramatically altered the ways in
which economists view the world. In his most important work, The
General Theory of Employment, Interest, and Money (1936), Keynes
critiqued the laissez faire policies of the day, particularly the
proposition that a normally functioning market economy will bring
full employment. Keynes' forward-looking work transformed economics
from merely a descriptive and analytic discipline to one that is
policy-oriented. For Keynes, enlightened government intervention in
a nation's economic life was essential to curbing what he saw as
the inherent inequalities and instabilities of unregulated
capitalism.
Edited with an introduction by ROBERT SKIDELSKY 'Many of the
greatest economic evils of our time are the fruits of risk,
uncertainty, and ignorance' John Maynard Keynes was the most
influential economist, and one of the most influential thinkers, of
the twentieth century. He overturned the orthodoxy that markets
were optimally self-regulating, and instead argued for state
intervention to ensure full employment and economic stability. This
new selection is the first comprehensive single-volume edition of
Keynes's writings on economics, philosophy, social theory and
policy, including several pieces never before published. Full of
irony and wit, they offer a dazzling introduction to a figure whose
ideas still have urgent relevance today.
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