The General Theory of Employment, Interest and Money: with The Economic Consequences of the Peace (Classics of World…
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.
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John Maynard Keynes (1883-1946) is probably the foremost financial thinker of the 20th century. On financial principle, he ranks with Adam Smith and Karl Marx; and his affect on how economics was practiced, from the Nice Despair to the 1970s, was unmatched. The Basic Concept of Employment, Curiosity and Cash was first printed in 1936. However its concepts had been forming for many years – as a scholar at Cambridge, Keynes had written to a buddy of his love for ‘Free Commerce and free thought’. Keynes’s limpid type, concise prose, and vivid descriptions have helped to maintain his concepts alive – as have the novelty and readability, at occasions even the anomaly, of his macroeconomic imaginative and prescient. He was troubled, above all, by excessive unemployment charges and enormous disparities in wealth and revenue. Solely by curbing each, he thought, might individualism, essentially the most highly effective instrument to raised the longer term’, be safeguarded. The twenty-first century might but show him proper. In The Financial Penalties of the Peace (1919), Keynes elegantly and acutely exposes the folly of imposing austerity on a defeated and struggling nation.
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