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Οδυσσέας Γκιλής. Keynes. John Maynard Keynes. General Theory. Γενική Θεωρία. Θεσσαλονίκη 2016
Οδυσσέας Γκιλής. Keynes. John Maynard Keynes. General Theory. Γενική Θεωρία. Θεσσαλονίκη 2016
Οδυσσέας Γκιλής. Keynes. John Maynard Keynes. General Theory. Γενική Θεωρία. Θεσσαλονίκη 2016
Οδυσσέας Γκιλής
Επιμέλεια
Θεσσαλονίκη 2016
2
3
Προλογικό σημείωμα
Περιεχόμενα
Keynesianismus
Herausgeber der 11. Auflage (2009) in deutscher Sprache dem Buch eine
Erklärung zu seinem Aufbau vorangestellt.
Für Keynes und den Keynesianismus ist die gesamtwirtschaftliche
Nachfrage die entscheidende Determinante für die Höhe von Produktion
und Beschäftigung. Dabei ist die gesamtwirtschaftliche Nachfrage höchst
instabil. Grund dafür ist vor allem die stark schwankende Nachfrage nach
Investitionsgütern. Diese Nachfrage ist von der erwarteten Rendite
abhängig, die wegen der Unsicherheit der Zukunft starken und plötzlichen
Änderungen unterworfen ist. Soll das in einer Periode erwirtschaftete
Einkommen zur Gänze nachfragewirksam werden, müssen sämtliche
Ersparnisse – vermittelt über das Bankensystem – reinvestiert werden.
Keynes sah also die inhärente Unsicherheit der Zukunft als Ursache von
stark schwankenden privaten Investitionen. Verstärkt über den
Multiplikator führt dies zu schwankender Produktion und Arbeitslosigkeit.
Der Multiplikator besagt, dass ein Rückgang der Investitionen auch negativ
auf den privaten Konsum einwirkt. Die Schließung einer Fabrik führt nicht
nur zur Entlassung der Arbeitenden in dieser Fabrik und zu Entlassungen
bei den Zulieferfirmen, vielmehr führt das rückläufige Einkommen der
entlassenen Arbeitskräfte auch zu deren Konsumeinschränkung, was
wieder Entlassungen in der Konsumgüterindustrie zur Folge hat. Wie
dieser Multiplikatorprozess abläuft, hatte Richard Kahn bereits 1931
gezeigt (s. nächsten Abschnitt).
Diese Schwankungen einzudämmen erfordert ein antizyklisches
Gegensteuern des Staates, um die Schwankungen gering zu halten
(antizyklische Geldund Finanzpolitik). Durch staatliche Geldund
Fiskalpolitik soll die gesamtwirtschaftliche Nachfrage gesteuert
(Globalsteuerung) werden. Man müsse also versuchen, die
Gesamtnachfrage möglichst auf einem stabilen Niveau zu halten. Dies
ermöglicht eine ausreichende Kapazitätsauslastung und eine stabile
Volkswirtschaft. Expansive Geldund Fiskalpolitik führe die Wirtschaft an
die Vollbeschäftigung heran.
Keynes erklärte das Saysche Theorem für ungültig, wonach sich jedes
Angebot seine Nachfrage schafft. Dazu wäre es notwendig, dass sämtliche
Ersparnisse – vermittelt über das Bankensystem – zu Investitionen genutzt
werden. Keynes betont dagegen, dass jede zusätzliche Ersparnis zunächst
und in erster Linie einen Nachfrageausfall bedeutet. Dieser verringert die
Kapazitätsauslastung bei den betroffenen Unternehmen, sodass diese
weniger Anreiz haben zu investieren.
14
Keynes wandte sich auch gegen die klassische Geldlehre und die von der
Neoklassischen Theorie behaupteten Zusammenhänge auf dem
Arbeitsmarkt. Er argumentierte gegen die (neo-)klassische Theorie, der
zufolge eine Senkung der Löhne gegen Unterbeschäftigung helfe. Zwar
sinken dadurch die Lohnkosten, aber die Lohnsenkungen führen zur
Abnahme der Kaufkraft des Großteiles der Konsumenten (= reale
Lohnsenkung) und damit zu einer Verringerung der Nachfrage. Begünstigt
werden dagegen die Exporte. Über Lohnsenkungen die Beschäftigung
erhöhen zu wollen, sei eine fragwürdige Politik, die überdies versucht,
inländische Nachfrageprobleme durch Außenhandelsüberschüsse, also zu
Lasten des Auslands, zu kompensieren.
Vielfach wird Keynes auf eine antizyklische Nachfragepolitik reduziert.
Demnach soll der Staat, über Rücklagen oder durch Kreditaufnahme
finanziert, fiskalpolitische Maßnahmen ergreifen. Die Zentralbank soll
dies geldpolitisch unterstützen. Das Zusammenspiel soll der
Abschwächung der Auswirkungen von Rezessionen und Booms dienen.
Wenn der Staat in der Rezession kurzfristig Schulden aufnimmt, liegt ein
so genanntes Deficit spending vor (dieser Begriff wurde von Abba P.
Lerner geprägt). Idealerweise sollten diese bei einem
Wirtschaftsaufschwung durch Steuermehreinnahmen beglichen werden.
Mitstreiter der „Keynesianischen Revolution“
Ein wichtiger Diskussionspartner von Keynes war Roy Harrod (1900–
1978), der in Oxford studierte und lehrte. Zwischendurch hörte Harrod die
Vorlesungen von Keynes in Cambridge, dessen Mitstreiter und Freund er
wurde. Keynes schickte ihm die Druckfahnen der „General Theory“ und
Harrod versuchte vergeblich, deren Attacken auf die (neo)klassische
Theorie abzumildern.
Harrod versuchte wenig später, Keynes’ Theorie zu dynamisieren („An
Essay in Dynamic Theory“, 1939) und daraus eine Wachstumstheorie zu
entwickeln. 1951 schrieb er im Auftrag des Bruders von Keynes dessen
offizielle Biographie („The Life of John Maynard Keynes“, London
1951).
Großen Anteil an der Entstehung von Keynes „Allgemeine Theorie“ hatte
Richard Kahn. Kahn war Keynes` Lieblingsschüler und sein engster
Mitarbeiter und, wie Joan Robinson halb scherzhaft bemerkte, schon vor
Keynes Keynesianer. Kahn präsentierte in seinem Aufsatz The Relation
of Home Investment to Unemployment (1931) das Multiplikator-Modell,
15
“The General Theory caught most economists under the age of thirty-five
with the unexpected virulence of a disease first attacking and decimating
an isolated tribe of South Sea Islanders. Economists beyond thirty-five
turned out to be quite immune to the ailment.”
– Paul Samuelson (1964)[19]
Schroffe Ablehnung erntete Keynes’ Werk in England besonders von
Arthur Cecil Pigou, Dennis Holme Robertson, Ralph Hawtrey, Lionel
Robbins, Friedrich August von Hayek, in den USA von Frank Knight,
Joseph Schumpeter und Jacob Viner.
Im Gegensatz zu Keynes nahm sein Londoner Gegenspieler Friedrich
August von Hayek an, staatliche Organisationsformen entwickelten ein
starkes Eigenleben, was häufig zu einer aufgeblähten Verwaltung führe,
die selbst einen Großteil der Staatsausgaben für ihren Selbsterhalt
benötige. Weiterhin nahm Hayek an, dass es in demokratischen Prozessen
sehr aufwendig bis nicht durchführbar sei, in der Vergangenheit gewährte
Subventionen bzw. Vergünstigungen aller Art wieder rückgängig zu
machen. Zuletzt seien wirtschaftliche Prozesse zu komplex, als dass sie
zentralisiert gesteuert werden könnten. Auf Grund dieses nur sehr bedingt
zur Verfügung stehenden Steuerungswissens sei es nicht möglich,
„antizyklische“ Prozesse durch den Staat anzuregen. Dieses Wissensdefizit
der öffentlichen Hand gepaart mit der dem staatlichen Handeln
unterstellten inhärenten Tendenzen zum Selbsterhalt der Verwaltung sowie
der fortschreitenden Bürokratisierung führen nach Hayek zu einem
vermehrten Einnahmebedarf des Staates, der die wirtschaftliche
Entwicklung erheblich erschwere. Demzufolge seien „antizyklische“
Maßnahmen der öffentlichen Hand mit Sicherheit zum Scheitern verurteilt.
Andere Kritiker stützen sich auf die von Keynes angegriffene
Neoklassische Theorie. Diese Theorie geht davon aus, dass ein
volkswirtschaftliches System „inhärent“, d. h. von sich aus stabil ist und
nach Störungen wieder zum Gleichgewicht bei Vollbeschäftigung
zurückfindet. Staatliche Maßnahmen seien daher überflüssig. Sie können
sogar zu unerwünschten Schwankungen der Konjunktur führen. Daher
vertreten Anhänger der neoklassischen Theorie die Ansicht, der Staat solle
seine Ausgaben möglichst begrenzen. Dem Staat käme nur eine
„allokative“ Aufgabe zu, während er sich ansonsten möglichst aus der
Wirtschaft heraushalten soll. Diese Kritik wird später von Milton Friedman
aufgegriffen und zu einer „monetaristischen Gegenrevolution“ ausgebaut
(s. unten Abschnitt 3.8).
17
Während des Entstehens der Allgemeinen Theorie hatte sich – wie schon
in Abschnitt 3.2.3 beschrieben – ab 1930 um Keynes ein Kreis von
Schülern in Cambridge gebildet, der als Cambridge Circus bekannt wurde
und wöchentlich über Keynes diskutierte, zu Beginn vor allem über seinen
Treatise on Money. Zu ihm gehörten Richard Kahn, Joan Robinson, Austin
Robinson, Piero Sraffa und James Meade. Diese Diskussion trugen
erheblich zum Entstehen der Allgemeinen Theorie bei. Bedingt durch
einen Herzinfarkt Keynes’ 1937, den aufkommenden Zweiten Weltkrieg
20
und die Beratungsaufgaben Keynes’ für die britische Regierung kam der
regelmäßige intellektuelle Austausch zwischen ihnen zum Erliegen.
Nach dem Zweiten Weltkrieg und Keynes’ Tod 1946 formierte sich unter
starker Beteiligung einiger dieser ehemaligen Schüler eine neue Gruppe,
die sich als Keynes’ legitime Erben mit der Fortführung seines Werkes
beauftragt sah. Sie sah sich vor allem in starkem Gegensatz zum
neoklassischen Modell: Das IS-LM-Modell lehnten sie strikt ab und
betonten den Bruch im ökonomischen Denken seit Keynes. Deswegen
bezeichnete sie Coddington (1956) in seinem Artikel Keynesian
Economics. The Search for first Principles (Journal of Economic
Literature, S. 1283) als Fundamentalisten. Innerhalb dieser Gruppe, die
sich als PostKeynesianer bezeichneten, bestand jedoch keinesfalls
Konsens über viele Fragen; ihre schulbildende Außenwirkung verdankte
sie eher gemeinsamen Abneigungen als gemeinsamen Konzepten.[25]
Wichtige britische Keynesianer in Cambridge (von ihnen ist nur Joan
Robinson als PostKeynesianer im engeren Sinne zu bezeichnen):
Richard Ferdinand Kahn (1905–1989). Unter seiner Führung wurde das
wirtschaftswissenschaftliche Studium in Cambridge nach dem 2.
Weltkrieg neu organisiert und der Cambridge Circus als Secret Seminar
oder Tuesday Group in seinen Räumen fortgeführt. Er publizierte in dieser
Zeit drei bedeutende Schriften: 1954 eine Ausarbeitung der
Liquiditätspräferenz-These (Some Notes on Liquidy Preference), in den
späten 1950er Jahren grundlegende Artikel zur Keynesianischen
Kapitaltheorie sowie 1976 mehrere Aufsätze über Zusammenhänge
zwischen Inflationd und Vollbeschäftigung insbesondere wegen steigender
Grenzkosten.[18]
Joan Violet Robinson (1903–1983) war in der Fachwelt schon bekannt,
weil sie bereits vor der Allgemeinen Theorie ihr Werk The Economics of
Imperfect Competition (1933) veröffentlichte, von dessen Analyse des
unvollständigen Wettbewerbs sie sich jedoch später distanzierte.
Unmittelbar nach dem Erscheinen der „General Theory“ schrieb sie eine
gut verständliche „Introduction to the Theory of Employment“ (London
1937). Sie beschäftigte sich ferner mit marxistischer Wirtschaftstheorie
(An Essay on Marxian Economics (1942)) und verhalf Marx somit zu einer
neuen Phase einer weniger ideologisch geprägten Rezeption. Sie wandte
sich dann der langfristigen Theorie zu und veröffentlichte 1956 „The
Accumulation of Capital“ (London/New York), in der sie eine komplizierte
Abfolge von Gleichgewichtssituationen konstruierte (Golden Age etc.).
21
Sie war eine scharfe Kritikerin der „neoklassischen Synthese“ und war
später zentral an der Cambridge-Kapitalkontroverse beteiligt.
Ebenfalls in Cambridge lehrte und forschte Nicholas Kaldor (1908–1986).
Er war zunächst Student an der LSE bei Friedrich von Hayek, wurde nach
der Veröffentlichung der Allgemeinen Theorie jedoch bald einer der ersten
Konvertiten. Er wurde 1950 fellow am King’s College in Cambridge und
wurde zuerst bekannt durch seine Arbeiten zur Verteilungstheorie.[26]
Dabei entwickelte er seine Kreislauftheorie der Verteilung, die er – sehr
unKeynesianisch – für eine Situation der Vollbeschäftigung formulierte.
Zur Begründung führte er an (S. 94), Keynes’ Anwendung des
Multiplikators auf die Beschäftigung gelte für die kurze Frist, die
Anwendung auf das Preisniveau und die Verteilung gelte langfristig. Post-
Keynesianer im engeren Sinne war er nicht.
Ähnliches gilt für Piero Sraffa (1898–1983), den Keynes nach Cambridge
geholt hatte. Er ist vor allem der Begründer der Neoricardianischen Schule
und wurde für seine Theorie der Produktionspreise[27] bekannt. Er war
maßgeblich an der Cambridge-Kapitalkontroverse beteiligt.
Näheres zu diesen Autoren (und zu Goodwin) ist bei Pasinetti (2007) im 2.
Teil (S. 59–248) nachzulesen.
Ab 1945: Keynesianische Theorie in den Vereinigten Staaten
Nach dem Zweiten Weltkrieg wurde die Keynesianische Theorie zur
herrschenden makroökonomischen Theorie, allerdings nur bis zur
Stagflation der 1970er Jahre, wo sie dann von der „Monetaristischen
Gegenrevolution“ in die Defensive gedrängt wurde. Zu ihren
bedeutendsten Vertretern zählen Alvin Hansen, Paul Samuelson, James
Tobin und Robert Solow. Zur Ausbreitung des Keynesianismus in den
USA siehe im Einzelnen Colander/ Landreth 1996.
Alvin Hansen (1887–1975) wurde 1937 an die Harvard University als
Professor für politische Ökonomie berufen und lehrte dort bis 1957. Er trug
erheblich zur Ausbreitung der Theorie von Keynes in den USA bei, vor
allem durch seinen „Guide to Keynes“ (New York, 1953).
Paul A. Samuelson (1915–2009) gehört zu den einflussreichsten
Ökonomen des 20. Jahrhunderts. Sein Lehrbuch Economics: An
Introductory Analysis (1. Aufl. 1948, 19. Aufl. 2009) ist das meistverkaufte
ökonomische Lehrbuch überhaupt. Auf Samuelson geht auch die
Wortschöpfung neoklassische Synthese zurück (s. dort, 6. Aufl., 1964, S.
590). Er meinte damit allerdings etwas anderes: Wie Keynes war er der
22
Keynesianismus in Deutschland
Gottfried Bombach u.a. (Hrsg.): Der Keynesianismus. 6 Bände.. Springer
Verlag, Berlin 1976ff.*
New Keynesian Economics
N. Gregory Mankiw & David Romer (Hrsg.): New Keynesian Economics.
Vol. 1: Imperfect Competition and Sticky Prices, MIT Press, 1991,
N. Gregory Mankiw & David Romer (Hrsg.): New Keynesian Economics.
Vol. 2: Coordination Failures and Real Rigidities, MIT Press, 1991,
Sekundärliteratur
Zur Entstehung
Peter Clarke: The Keynesian Revolution in the making. Oxford University
Press, USA, 1989, ISBN 978-0-19-828304-1.
Richard Ferdinand Kahn: The Making of Keynes’ General Theory.
Cambridge University Press, Cambridge 1984, ISBN 978-0-521-25373-4
(Raffaele Mattioli Lectures, gehalten an der Università Bocconi, Mailand
1978).
Zur Rezeption
a) Kritiker
Robert Leeson: The Anti-Keynesian Tradition. Palgrave, 2008, ISBN 978-
1-4039-4959-2.
Henry Hazlitt: The Failure of the ‘New Economics’. An Analysis of the
Keynesian Fallacies. Van Nostrand, Princeton, NJ 1959.
Friedrich von Hayek, Bruce Caldwell (Hrsg.): Collected Works of F.A.
Hayek. Vol. IX: Contra Keynes and Cambridge: Essays, Correspondence,
Liberty Fund, 2009, ISBN 978-0-86597-744-0.
Mark Skousen (Hrsg.): Dissent on Keynes. Praeger Publishers, 1992, ISBN
978-0-275-93778-2.
Mark Skousen (Hrsg.): The Big Three in Economics: Adam Smith, Karl
Marx und John Maynard Keynes. Sharpe, Armonk etc. 2007. Chapters
5,6,7..
John C. Wood (Hrsg.): John Maynard Keynes: Critical Assessments.
Routledge, 1994, ISBN 978-0-415-11413-4.
29
b) Sympathisierende Darstellungen
Jürgen Kromphardt: John Maynard Keynes in der Serie Die größten
Ökonomen. UTB-Lucius 3794, München 2013.
Oliver Landmann: Keynes in der heutigen Wirtschaftstheorie. In: Gottfried
Bombach u.a. (Hrsg.): Der Keynesianismus. Band I: Theorie und Praxis
Keynesianischer Wirtschaftspolitik. Springer, Berlin 1976.
Joan Robinson: Introduction to the Theory of Employment. MacMillan,
London / New York 1937.
Harald Scherf: John Maynard Keynes. In: Joachim Starbatty (Hrsg.):
Klassiker des ökonomischen Denkens. Beck, München 1989.
Website der Keynes-Gesellschaft
Zur Weiterentwicklung des Keynesianismus
Michel Beaud und Gilles Dostaler: Economic Thought Since Keynes. A
History and Dictionary of Major Economicts.. Edward Elgar, Cheltenham
1995 (übersetzt von Valérie Cauchemez aus dem Französischen)
(Wirtschaftsgeschichte seit Keynes mit einem umfassenden
biographischen Anhang wichtiger Ökonomen).
Thomas Cate, Geoff Harcourt und David C. Colander (Hrsg.): An
Encyclopedia of Keynesian Economics. Edward Elgar,
Cheltenham/Brookfield 1997, ISBN 978-1-85898-145-1.
David C. Colander: The Evolution of Keynesian Economics. From
Keynesian to New Classical to New Keynesian. In: O.F. Hamouda und J.N.
Smithin (Hrsg.): Keynes and Public Policy After 50 Years. Vol. I:
Economics and Policy, Edward Elgar, Aldershot/Brookfield 1988.
David C. Colander und H. Landreth: The Coming of Keynesianism to
America. Edward Elgar, Cheltenham/Brookfield 1996, ISBN 978-1-
85898-087-4.
Robert William Dimand: The origins of the Keynesian revolution: the
development of Keynes’ theory of employment and output. Stanford
University Press, 1988, ISBN 978-0-8047-1525-6.
Shaun P. und Hargreaves Heap: The New Keynesian Macroeconomics.
Edward Elgar, 1993, ISBN 978-1-85278-598-7.
Robert Leeson (Hrsg.): The Keynesian Tradition. Palgrave Macmillan,
2008, ISBN 978-1-4039-4960-8.
30
1968, Deutsch: Über Keynes und den Keynesianismus. Eine Studie zur
monetären Theorie, Köln (Kiepenheuer & Witsch) 1973
James Tobin: Price Flexibility and Output Stability. An Old Keynesian
View.In: Journal of Economics Perspectives, Vol. 7, 1993
Zu Einzelheiten siehe Frederic S. Lee: The Organizational History of
Post Keynesian Economics in America, 1971–1995. In: Journal of Post
Keynesian Economics. Vol. 23, Nr. 1, 2000, S. 141 (145).
Vgl. Joan Robinson: Collected Economic Papers. Volume 2, Blackwell,
Oxford Preface, S. XIII.
John Edward King (Hrsg.): A History of Post Keynesian Economics
since 1936. Edward Elgar Publishing, (Cheltenham/Northampton, MA)
2002, ISBN 978-1-84376-650-6, S. 9ff sq..
So bei M.C. Howard: Modern Theories of Income Distribution.
Macmillan, London 1979.
John Edward King (Hrsg.): A history of post Keynesian Economics
since 1936. Edward Elgar Publishing, Cheltenham/Northampton, MA
2003, ISBN 978-1-84376-650-6, S. 10.
T.I. Palley: Post Keynesian Economics: Debt, Distribution and the
Macro Economy. Macmillan, London 1996, S. 2016-220.
Anthony Philip Thirlwall: The renaissance of Keynesian Economics. In:
Banca Nazionale del Lavoro Quarterly Review. 186, S. 335–337.
John Edward King (Hrsg.): A history of post Keynesian Economics
since 1936. Edward Elgar Publishing, Cheltenham 2003, ISBN 978-1-
84376-650-6, S. 1–11.
John Maynard Keynes: A Treatise on Money. | Ort=London etc. | 1930
(dt.: Vom Gelde. München und Leipzig 1932, S. 18–19:
„Aber es gibt noch einen zweiten Weg, auf dem die Bank einen Anspruch
gegen sich selbst schaffen kann. Sie kann selbst Werte kaufen, das heißt
ihre Anlagen erhöhen und diesen Kauf, wenigstens zunächst, dadurch
begleichen, daß sie einen Anspruch gegen sich selbst einräumt. Oder die
Bank kann einen Anspruch gegen sich selbst zugunsten eines
Kreditnehmers schaffen, und zwar gegen sein Versprechen späterer
Rückzahlung; das heißt, sie kann Darlehen oder Vorschüsse geben. In
beiden Fällen schafft die Bank das Guthaben; denn nur die Bank selber
kann die Schaffung von Guthaben in ihren Büchern veranlassen, die den
32
John Maynard Keynes, 1st Baron Keynes,[1] CB, FBA (/ˈkeɪnz/ KAYNZ;
5 June 1883 – 21 April 1946), was an English economist whose ideas
fundamentally changed the theory and practice of modern macroeconomics
and the economic policies of governments. He built on and greatly refined
earlier work on the causes of business cycles, and is widely considered to
be one of the most influential economists of the 20th century and the
founder of modern macroeconomics.[2][3][4][5] His ideas are the basis for the
school of thought known as Keynesian Economics and its various
offshoots.
In the 1930s, Keynes spearheaded a revolution in economic thinking,
challenging the ideas of neoclassical economics that held that free markets
would, in the short to medium term, automatically provide full
employment, as long as workers were flexible in their wage demands. He
instead argued that aggregate demand determined the overall level of
economic activity and that inadequate aggregate demand could lead to
prolonged periods of high unemployment. According to Keynesian
Economics, state intervention was necessary to moderate "boom and bust"
cycles of economic activity.[6] Keynes advocated the use of fiscal and
monetary policies to mitigate the adverse effects of economic recessions
and depressions.
Following the outbreak of World War II, Keynes's ideas concerning
economic policy were adopted by leading Western economies. Keynes
died in 1946; but, during the 1950s and 1960s, the success of Keynesian
Economics resulted in almost all capitalist governments adopting its policy
recommendations. Keynes's influence waned in the 1970s, partly as a
result of problems with inflation that began to afflict the Anglo-American
economies from the start of the decade and partly because of critiques from
Milton Friedman and other economists who were pessimistic about the
ability of governments to regulate the business cycle with fiscal policy.[7]
However, the advent of the global financial crisis of 2007–08 caused a
resurgence in Keynesian thought. Keynesian Economics provided the
theoretical underpinning for economic policies undertaken in response to
the crisis by President Barack Obama of the United States, Prime Minister
Gordon Brown of the United Kingdom, and other heads of governments.[8]
In 1999, Time magazine included Keynes in their list of the 100 most
important and influential people of the 20th century, commenting that: "His
radical idea that governments should spend Money they don't have may
36
history. At Eton, Keynes experienced the first "love of his life" in Dan
Macmillan, older brother of the future Prime Minister Harold
Macmillan.[24] Despite his middle-class background, Keynes mixed easily
with upper-class pupils. In 1902 Keynes left Eton for King's College,
Cambridge, after receiving a scholarship for this also to read mathematics.
Alfred Marshall begged Keynes to become an economist,[25] although
Keynes's own inclinations drew him towards philosophy – especially the
ethical system of G. E. Moore. Keynes joined the Pitt Club[26] and was an
active member of the semi-secretive Cambridge Apostles society, a
debating club largely reserved for the brightest students. Like many
members, Keynes retained a bond to the club after graduating and
continued to attend occasional meetings throughout his life. Before leaving
Cambridge, Keynes became the President of the Cambridge Union Society
and Cambridge University Liberal Club.
In May 1904, he received a first class B.A. in mathematics. Aside from a
few months spent on holidays with family and friends, Keynes continued
to involve himself with the university over the next two years. He took part
in debates, further studied philosophy and attended economics lectures
informally as a graduate student for one term, which constituted his only
formal education in the subject. He also studied for Tripos in 1905 and, the
following year took civil service exams.
The economist Harry Johnson wrote that the optimism imparted by
Keynes's early life is a key to understanding his later thinking. [27] Keynes
was always confident he could find a solution to whatever problem he
turned his attention to, and retained a lasting faith in the ability of
government officials to do good.[28] Keynes's optimism was also cultural,
in two senses: he was of the last generation raised by an empire still at the
height of its power, and was also of the last generation who felt entitled to
govern by culture, rather than by expertise. According to Skidelsky, the
sense of cultural unity current in Britain from the 19th century to the end
of World War I provided a framework with which the well-educated could
set various spheres of knowledge in relation to each other and to life,
enabling them to confidently draw from different fields when addressing
practical problems.[12]
Career
In October 1906, Keynes's Civil Service career began as a clerk in the India
Office. He enjoyed his work at first, but by 1908 had become bored and
resigned his position to return to Cambridge and work on probability
38
theory, at first privately funded only by two dons at the university – his
father and the economist Arthur Pigou. By 1909 Keynes had published his
first professional economics article in the Economics Journal, about the
effect of a recent global economic downturn on India.[29] Also in 1909,
Keynes accepted a lectureship in economics funded personally by Alfred
Marshall. Keynes's earnings rose further as he began to take on pupils for
private tuition. On being elected a fellow in 1911 Keynes was made editor
of The Economic Journal. By 1913 he had published his first book, Indian
Currency and Finance.[30] He was then appointed to the Royal
Commission on Indian Currency and Finance[31] – the same topic as his
book – where Keynes showed considerable talent at applying economic
theory to practical problems. His written work was published under the
name "J M Keynes", though to his family and friends he was known as
Maynard.(His father, John Neville Keynes, was also always known by his
middle name).[32]
World War I
The British Government called on Keynes's expertise during the First
World War. While he did not formally re-join the civil service in 1914,
Keynes travelled to London at the government's request a few days before
hostilities started. Bankers had been pushing for the suspension of specie
payments – the convertibility of banknotes into gold – but with Keynes's
help the Chancellor of the Exchequer (then Lloyd George) was persuaded
that this would be a bad idea, as it would hurt the future reputation of the
city if payments were suspended before absolutely necessary.
In January 1915, Keynes took up an official government position at the
Treasury. Among his responsibilities were the design of terms of credit
between Britain and its continental allies during the war, and the
acquisition of scarce currencies. According to economist Robert
Lekachman, Keynes's "nerve and mastery became legendary" because of
his performance of these duties, as in the case where he managed to
assemble – with difficulty – a small supply of Spanish pesetas. The
secretary of the Treasury was delighted to hear Keynes had amassed
enough to provide a temporary solution for the British Government. But
Keynes did not hand the pesetas over, choosing instead to sell them all to
break the market: his boldness paid off, as pesetas then became much less
scarce and expensive.[33] In the 1917 King's Birthday Honours, Keynes was
appointed Companion of the Order of the Bath for his wartime work,[34]
and his success led to the appointment that would have a huge effect on
39
Keynes's followers claim that his predictions of disaster were borne out
when the German economy suffered the hyperinflation of 1923, and again
by the collapse of the Weimar Republic and the outbreak of World War II.
However the historian Ruth Henig claims that "most historians of the Paris
peace conference now take the view that, in economic terms, the treaty was
not unduly harsh on Germany and that, while obligations and damages
were inevitably much stressed in the debates at Paris to satisfy electors
reading the daily newspapers, the intention was quietly to give Germany
substantial help towards paying her bills, and to meet many of the German
objections by amendments to the way the reparations schedule was in
practice carried out".[39][40] Only a fraction of reparations were ever paid.
The Economic Consequences of the Peace gained Keynes international
fame, but also caused him to be regarded as anti-establishment – it was not
until after the outbreak of World War II that Keynes was offered a
directorship of a major British Bank, or an acceptable offer to return to
government with a formal job. However, Keynes was still able to influence
government policy making through his network of contacts, his published
works and by serving on government committees; this included attending
high-level policy meetings as a consultant.[37]
In the 1920s
Keynes argued against a return to the gold standard at parity with pre-war
sterling valuation after the Great War.
Keynes had completed his A Treatise on Probability before the war, but
published it in 1921.[37] The work was a notable contribution to the
philosophical and mathematical underpinnings of probability theory,
championing the important view that probabilities were no more or less
than truth values intermediate between simple truth and falsity. Keynes
developed the first upper-lower probabilistic interval approach to
probability in chapters 15 and 17 of this book, as well as having developed
the first decision weight approach with his conventional coefficient of risk
and weight, c, in chapter 26. In addition to his academic work, the 1920s
saw Keynes active as a journalist selling his work internationally and
working in London as a financial consultant. In 1924 Keynes wrote an
obituary for his former tutor Alfred Marshall which Schumpeter called "the
most brilliant life of a man of science I have ever read."[41] Marshall's
widow was "entranced" by the memorial, while Lytton Strachey rated it as
one of Keynes's "best works".[37]
42
The two new institutions, later known as the World Bank and International
Monetary Fund (IMF), were founded as a compromise that primarily
reflected the American vision. There would be no incentives for states to
avoid a large trade surplus; instead, the burden for correcting a trade
imbalance would continue to fall only on the deficit countries, which
Keynes had argued were least able to address the problem without
inflicting economic hardship on their populations. Yet, Keynes was still
pleased when accepting the final agreement, saying that if the institutions
stayed true to their founding principles, "the brotherhood of man will have
become more than a phrase."[57][58]
Postwar
After the war, Keynes continued to represent the United Kingdom in
international negotiations despite his deteriorating health. He succeeded in
obtaining preferential terms from the United States for new and
outstanding debts to facilitate the rebuilding of the British economy.[59]
Just before his death in 1946, Keynes told Henry Clay, a professor of
Social Economics and Advisor to the Bank of England [60] of his hopes that
Adam Smith's 'invisible hand' can help Britain out of the economic hole it
is in: "I find myself more and more relying for a solution of our problems
on the invisible hand which I tried to eject from economic thinking twenty
years ago." [61]
Legacy
Prime Minister Clement Attlee with King George VI after his 1945 election
victory
Keynesian ascendancy 1939–1979
Main article: Keynesian Revolution
From the end of the Great Depression to the mid-1970s, Keynes provided
the main inspiration for economic policy makers in Europe, America and
much of the rest of the world.[50] While economists and policy makers had
become increasingly won over to Keynes's way of thinking in the mid and
late 1930s, it was only after the outbreak of World War II that governments
started to borrow Money for spending on a scale sufficient to eliminate
unemployment. According to economist John Kenneth Galbraith (then a
US government official charged with controlling inflation), in the rebound
of the economy from wartime spending, "one could not have had a better
demonstration of the Keynesian ideas."[62]
48
intervention and influence of the government." The article also states that
Keynes was one of the three most important economists who ever lived,
and that his General Theory was more influential than the magna opera of
other famous economists, like Smith's The Wealth of Nations.[67]
Economics out of favour 1979–2007
Main article: Post-war displacement of Keynesianism
Keynesian Economics were officially discarded by the British
Government in 1979, but forces had begun to gather against Keynes's ideas
over 30 years earlier. Friedrich Hayek had formed the Mont Pelerin Society
in 1947, with the explicit intention of nurturing intellectual currents to one
day displace Keynesianism and other similar influences. Its members
included Austrian School economist Ludwig von Mises along with the then
young Milton Friedman. Initially the society had little impact on the wider
world – Hayek was to say it was as if Keynes had been raised to sainthood
after his death and that people refused to allow his work to be
questioned.[68][69] Friedman however began to emerge as a formidable critic
of Keynesian Economics from the mid-1950s, and especially after his
1963 publication of A Monetary History of the United States.
On the practical side of economic life, big government had appeared to be
firmly entrenched in the 1950s but the balance began to shift towards
private power in the 1960s. Keynes had written against the folly of
allowing "decadent and selfish" speculators and financiers the kind of
influence they had enjoyed after World War I. For two decades after World
War II public opinion was strongly against private speculators, the
disparaging label Gnomes of Zürich being typical of how they were
described during this period. International speculation was severely
restricted by the capital controls in place after Bretton Woods. Journalists
Larry Elliott and Dan Atkinson say 1968 was a pivotal year when power
shifted in the favour of private agents such as currency speculators. They
pick out a key 1968 event as being when America suspended the
conversion of the dollar into gold except on request of foreign
governments, which they identify as when the Bretton Woods system first
began to break down. [70]
Criticisms of Keynes's ideas had begun to gain significant acceptance by
the early 1970s as they were able to make a credible case that Keynesian
models no longer reflected economic reality. Keynes himself had included
few formulas and no explicit mathematical models in his General Theory.
50
a key cause of the economic problems afflicting America in the 1970s was
the refusal to raise taxes to finance the Vietnam War, which was against
Keynesian advice.[75]
A more typical response was to accept some elements of the criticisms
while refining Keynesian economic theories to defend them against
arguments that would invalidate the whole Keynesian framework – the
resulting body of work largely composing New Keynesian Economics. In
1992 Alan Blinder was writing about a "Keynesian Restoration" as work
based on Keynes's ideas had to some extent become fashionable once again
in academia, though in the mainstream it was highly synthesised with
Monetarism and other neoclassical thinking. In the world of policy making,
free-market influences broadly sympathetic to Monetarism remained very
strong at government level – in powerful normative institutions like the
World Bank, IMF and US Treasury, and in prominent opinion-forming
media such as the Financial Times and The Economist.[76]
Keynesian resurgence of 2008–2009
Main article: 2008–09 Keynesian resurgence
Economist Manmohan Singh, the then Prime Minister of India, spoke
strongly in favour of Keynesian fiscal stimulus at the 2008 G-20
Washington summit.[77]
The global financial crisis of 2007–08 led to public skepticism about the
free market consensus even from some on the economic right. In March
2008, Martin Wolf, chief economics commentator at the Financial Times,
announced the death of the dream of global free-market capitalism.[78] In
the same month macroeconomist James K. Galbraith used the 25th Annual
Milton Friedman Distinguished Lecture to launch a sweeping attack
against the consensus for monetarist economics and argued that Keynesian
Economics were far more relevant for tackling the emerging crises.[79]
Economist Robert Shiller had begun advocating robust government
intervention to tackle the financial crises, specifically citing
Keynes.[80][81][82] Nobel laureate Paul Krugman also actively argued the
case for vigorous Keynesian intervention in the economy in his columns
for the New York Times.[83][84][85] Other prominent economic commentators
arguing for Keynesian government intervention to mitigate the financial
crisis include George Akerlof,[86] Brad Delong,[87] Robert Reich,[88] and
Joseph Stiglitz.[89] Newspapers and other media have also cited work
52
Bretton Woods system breaking down was the failure to adopt Keynes's
bancor. Zhou proposed a gradual move towards increased use of IMF
special drawing rights (SDRs). Although Zhou's ideas have not yet been
broadly accepted, leaders meeting in April at the 2009 G-20 London
summit agreed to allow $250 billion of special drawing rights to be created
by the IMF, to be distributed globally. Stimulus plans have been credited
for contributing to a better than expected economic outlook by both the
OECD[102] and the IMF,[103][104] in reports published in June and July 2009.
Both organisations warned global leaders that recovery is likely to be slow,
so counter recessionary measures ought not be rolled back too early.
While the need for stimulus measures has been broadly accepted among
policy makers, there has been much debate over how to fund the spending.
Some leaders and institutions such as Angela Merkel[105] and the European
Central Bank[106] have expressed concern over the potential impact on
inflation, national debt and the risk that a too large stimulus will create an
unsustainable recovery.
Among professional economists the revival of Keynesian Economics has
been even more divisive. Although many economists, such as George
Akerlof, Paul Krugman, Robert Shiller, and Joseph Stiglitz, support
Keynesian stimulus, others do not believe higher government spending
will help the United States economy recover from the Great Recession.
Some economists, such as Robert Lucas, questioned the theoretical basis
for stimulus packages.[107] Others, like Robert Barro and Gary Becker, say
that the empirical evidence for beneficial effects from Keynesian stimulus
does not exist.[108] However, there is a growing academic literature that
shows that fiscal expansion helps an economy grow in the near term, and
that certain types of fiscal stimulus are particularly effective.[109][110]
Reception
Praise
Keynes's economic thinking only began to achieve close to universal
acceptance in the last few years of his life. On a personal level, Keynes's
charm was such that he was generally well received wherever he went –
even those who found themselves on the wrong side of his occasionally
sharp tongue rarely bore a grudge.[111] Keynes's speech at the closing of the
Bretton Woods negotiations was received with a lasting standing ovation,
rare in international relations, as delegates acknowledged the scale of his
achievements made despite poor health.[28]
54
as anti-establishment and was mainly attacked from the right. In the "red
1930s", many young economists favoured Marxist views, even in
Cambridge,[29] and while Keynes was engaging principally with the right
to try to persuade them of the merits of more progressive policy, the most
vociferous criticism against him came from the left, who saw him as a
supporter of capitalism. From the 1950s and onwards, most of the attacks
against Keynes have again been from the right.
Friedrich Hayek, one of Keynes's most prominent critics
In 1931 Friedrich Hayek extensively critiqued Keynes's 1930 Treatise on
Money.[115] After reading Hayek's The Road to Serfdom, Keynes[116] wrote
to Hayek saying: "Morally and philosophically I find myself in agreement
with virtually the whole of it" but concluded the same letter with the
recommendation:
What we need therefore, in my opinion, is not a change in our economic
programmes, which would only lead in practice to disillusion with the
results of your philosophy; but perhaps even the contrary, namely, an
enlargement of them. Your greatest danger is the probable practical failure
of the application of your philosophy in the United States.
On the pressing issue of the time, whether deficit spending could lift a
country from depression, Keynes[117] replied to Hayek's criticism in the
following way:
I should... conclude rather differently. I should say that what we want is
not no planning, or even less planning, indeed I should say we almost
certainly want more. But the planning should take place in a community in
which as many people as possible, both leaders and followers wholly share
your own moral position. Moderate planning will be safe enough if those
carrying it out are rightly oriented in their own minds and hearts to the
moral issue.
Hayek explained the letter by saying:[118]
Because Keynes believed that he was fundamentally still a classical
English liberal and wasn't quite aware of how far he had moved away from
it. His basic ideas were still those of individual freedom. He did not think
systematically enough to see the conflicts.
According to some observers, Hayek felt that the post-World War II
"Keynesian orthodoxy" gave too much power to the state and led toward
socialism.[119]
56
While Milton Friedman described The General Theory as "a great book",
he argues that its implicit separation of nominal from real magnitudes is
neither possible nor desirable. Macroeconomic policy, Friedman argues,
can reliably influence only the nominal.[120] He and other monetarists have
consequently argued that Keynesian Economics can result in stagflation,
the combination of low growth and high inflation that developed
economies suffered in the early 1970s. More to Friedman's taste was the
Tract on Monetary Reform (1923), which he regarded as Keynes's best
work because of its focus on maintaining domestic price stability.[120]
Joseph Schumpeter was an economist of the same age as Keynes and one
of his main rivals. He was among the first reviewers to argue that Keynes's
General Theory was not a General Theory, but was in fact a special
case.[121] He said the work expressed "the attitude of a decaying
civilisation". After Keynes's death Schumpeter wrote a brief biographical
piece called Keynes the Economist – on a personal level he was very
positive about Keynes as a man, praising his pleasant nature, courtesy and
kindness. He assessed some of Keynes biographical and editorial work as
among the best he'd ever seen. Yet Schumpeter remained critical about
Keynes's economics, linking Keynes's childlessness to what Schumpeter
saw as an essentially short term view. He considered Keynes to have a kind
of unconscious patriotism that caused him to fail to understand the
problems of other nations. For Schumpeter[122] "Practical Keynesianism is
a seedling which cannot be transplanted into foreign soil: it dies there and
becomes poisonous as it dies."
President Harry Truman was sceptical of Keynesian theorizing, "Nobody
can ever convince me that Government can spend a dollar that it's not got,"
he told Leon Keyserling, a Keynesian economist who chaired Truman's
Council of Economic Advisers.[43]
Views on race
Keynes sometimes explained the mass murder during the first years of the
communist era in Russia on a racial basis as part of the “Russian and Jewish
nature” rather than as a feature of the communism itself which was more
common approach. Writing in his "Short View of Russia" published after
a trip in Russia that there is "beastliness on the Russian and Jewish natures
when, as now, they are allied together". He also accused Russian nation for
"cruelty and stupidity" saying that "Out of the cruelty and stupidity of the
Old Russia nothing could ever emerge, but (...) beneath the cruelty and
stupidity of the New Russia a speck of the ideal may lie hid" which together
57
Lenin is said to have declared that the best way to destroy the Capitalist
System was to debauch the currency. By a continuing process of inflation,
governments can confiscate, secretly and unobserved, an important part of
the wealth of their citizens. There is no subtler, no surer means of
overturning the existing basis of society than to debauch the currency. The
process engages all the hidden forces of economic law on the side of
destruction, and does it in a manner which not one man in a million is able
to diagnose.[127]
Personal life
Relationships
Painter Duncan Grant (left) with Keynes
Keynes's early romantic and sexual relationships were exclusively with
men.[129] Keynes had been in relationships while at Eton and Cambridge;
significant among these early partners were Dilly Knox and Daniel
Macmillan.[24][130] Keynes was open about his affairs, and between 1901 to
1915, kept separate diaries in which he tabulated his many sexual
encounters.[131][132] Keynes's relationship and later close friendship with
Macmillan was to be fortunate, as Macmillan's company first published his
tract, Economic Consequences of the Peace.[133]
Attitudes in the Bloomsbury Group, in which Keynes was avidly involved,
were relaxed about homosexuality. Keynes, together with writer Lytton
Strachey, had reshaped the Victorian attitudes of the Cambridge Apostles:
"since [their] time, homosexual relations among the members were for a
time common", wrote Bertrand Russell.[134] The artist Duncan Grant,
whom he met in 1908, was one of Keynes's great loves. Keynes was also
involved with Lytton Strachey,[129] though they were for the most part love
rivals, and not lovers. Keynes had won the affections of Arthur
Hobhouse,[135] and as with Grant, fell out with a jealous Strachey for it.[136]
Strachey had previously found himself put off by Keynes, not least because
of his manner of "treat[ing] his love affairs statistically".[137]
Political opponents have used Keynes's sexuality to attack his academic
work.[138] One line of attack held that he was uninterested in the long term
ramifications of his theories because he had no children.[138]
Keynes's friends in the Bloomsbury Group were initially surprised when,
in his later years, he began dating and pursuing affairs with women,[139]
demonstrating himself to be bisexual.[140] Ray Costelloe (who would later
marry Oliver Strachey) was an early heterosexual interest of Keynes.[141]
59
In 1906, Keynes had written of this infatuation that, "I seem to have fallen
in love with Ray a little bit, but as she isn't male I haven't [been] able to
think of any suitable steps to take."[142]
Marriage
Lopokova and Keynes in the 1920s
In 1921, Keynes wrote that he had fallen "very much in love" with Lydia
Lopokova, a well-known Russian ballerina, and one of the stars of Sergei
Diaghilev's Ballets Russes.[143] In the early years of his courtship, he
maintained an affair with a younger man, Sebastian Sprott, in tandem with
Lopokova, but eventually chose Lopokova exclusively.[144][145] They
married in 1925, with Keynes's former lover Duncan Grant as best
man.[113][129] "What a marriage of beauty and brains, the fair Lopokova and
John Maynard Keynes" was said at the time. Keynes later commented to
Strachey that beauty and intelligence were rarely found in the same person,
and that only in Duncan Grant had he found the combination.[146] The union
was happy, with biographer Peter Clarke writing that the marriage gave
Keynes "a new focus, a new emotional stability and a sheer delight of
which he never wearied".[32][147] Lydia became pregnant in 1927 but
miscarried.[32] Among Keynes's Bloomsbury friends, Lopokova was, at
least initially, subjected to criticism for her manners, mode of conversation
and supposedly humble social origins – the last of the ostensible causes
being particularly noted in the letters of Vanessa and Clive Bell, and
Virginia Woolf.[148][149] In her novel Mrs Dalloway (1925), Woolf bases the
character of Rezia Warren Smith on Lopokova.[150] E. M. Forster would
later write in contrition: "How we all used to underestimate her".[148]
who with all their faults, are the quality of life and surely carry the seeds
of all human achievement? Even if we need a religion, how can we find it
in the turbid rubbish of the red bookshop? It is hard for an educated, decent,
intelligent son of Western Europe to find his ideals here, unless he has first
suffered some strange and horrid process of conversion which has changed
all his values.
Keynes was also a firm supporter of women's rights and in 1932 became
vice-Chairman of the Marie Stopes Society which provided birth control
education. He also campaigned against job discrimination against women
and unequal pay. He was an outspoken campaigner for reform of the law
on homosexuality.[52]
Death
Throughout his life, Keynes worked energetically for the benefit both of
the public and his friends; even when his health was poor, he laboured to
sort out the finances of his old college,[160] and at Bretton Woods he worked
to institute an international monetary system that would be beneficial for
the world economy. Keynes suffered a series of heart attacks, which
ultimately proved fatal, beginning during negotiations for an Anglo-
American loan in Savannah, Georgia, where he was trying to secure
favourable terms for the United Kingdom from the United States, a process
he described as "absolute hell".[42][161] A few weeks after returning from the
United States, Keynes died of a heart attack at Tilton, his farmhouse home
near Firle, East Sussex, England, on 21 April 1946 at the age of 62.[12][162]
Both of Keynes's parents outlived him: his father John Neville Keynes
(1852–1949) by three years, and his mother Florence Ada Keynes (1861–
1958) by twelve. Keynes's brother Sir Geoffrey Keynes (1887–1982) was
a distinguished surgeon, scholar, and bibliophile. His nephews include
Richard Keynes (1919–2010) (a physiologist) and Quentin Keynes (1921–
2003) (an adventurer and bibliophile). His widow, Lydia Lopokova, died
in 1981. Keynes had no children.
Publications
1913 Indian Currency and Finance
1914 Ludwig von Mises's Theorie des Geldes (EJ)
1915 The Economics of War in Germany (EJ)
1919 The Economic Consequences of the Peace
63
Keynes family
Notes and citations
The London Gazette: no. 35511. p. 1540. 3 April 1942. Retrieved 4 August
2009.
The London Gazette: no. 35586. p. 2475. 5 June 1942. Retrieved 4
August 2009.
The London Gazette: no. 35623. p. 2987. 7 July 1942. Retrieved 4
August 2009.
"Review of Robert Skidelsky, John Maynard Keynes: Fighting for
Britain 1937–1946". Brad Delong, Berkeley university. Retrieved 14 June
2009.
Keynes, J.M (1980). Donald Moggridge, ed. The Collected Writings of
John Maynard Keynes 26. London: Macmillan. p. 103. ISBN 0-333-
10736-5. Speech by Lord Keynes in Moving to Accept the Final Act at the
Closing Plenary Session, Bretton Woods, 22 July 1944,
Griffin, G. Edward (2004). The Creature from Jekyll Island: A Second
Look at the Federal Reserve. American Media. pp. 85–106..
"John Maynard Keynes: Career Timeline". MaynardKeynes.org.
Retrieved 2 October 2013.
Sayers, Richard (1976). The Bank of England, 1891–1944, Volume 1.
"After the War, The World Bank, the IMF, and the End, 1945 to 1946".
Daniel Yergin , William Cran (writers / producer), (2002). Commanding
Heights, see chapter 6 video or transcript (TV documentary). US: PBS.
Barry Stewart Clark, Political economy: a comparative approach. p.
101. "Modern liberalism was the dominant ideology in Western nations
from the end of World War II until the early 1970s. Its appeal stemmed
from not only the success of Keynesian Economics in maintaining
prosperity during that period, but also from the postwar revulsion towards
any pure form of ideology."
Alan Wolfe, The Future of Liberalism. p. 13. "If Adam Smith is the
quintessential classical liberal, the twentieth-century British economist
John Maynard Keynes, whose ideas paved the way for massive public
works projects and countercyclical economic policies meant to soften the
ups and downs of the business cycle, best represents the modern version."
Paul Davidson. "Crash: Reforming the world's international Money"
(PDF). The New School. Retrieved 5 April 2010.
69
Polly Hill, Richard Keynes, ed. (1989). Lydia and Maynard: letters
between Lydia Lopokova and John Maynard Keynes. André Deutsch.
p. 97.
"Tilton House homepage". Tiltonhouse.co.uk. Retrieved 2 October
2013.
Quentin Bell. Virginia Wolf, A Biography. 2 (revised Edition 1996, ed.).
The Hogarth Press. 1972;. p. 177.
Skidelsky, Robert (1 January 1994). John Maynard Keynes: Volume 1:
Hopes Betrayed 1883–1920. Penguin Books. p. 86. ISBN 014023554X.
Lubenow, William C (1998). The Cambridge Apostles, 1820–1914.
Cambridge University Press. ISBN 0-521-57213-4.
See John Maynard Keynes by Skidelsky (2003), pp. 520–21, p. 563 and
especially p. 565 where Keynes is quoted as "It is the duty of a serious
investor to accept the depreciation of his holding with equanimity ... any
other policy is anti-social, destructive of confidence and incompatible with
the working of the economic system."
Keynes, John Maynard (1956). James R. Newman, ed. The World of
Mathematics (2000 ed.). Dover. p. 277. ISBN 0-486-41153-2.
Chambers, David; Dimson, Elroy (Summer 2013). "Retrospectives:
John Maynard Keynes, Investment Innovator". Journal of Economic
Perspectives (American Economic Association) 27 (3): 213–228.
doi:10.1257/jep.27.3.213. Retrieved 8 September 2014.
Keynes, John Maynard (1946). "Opening remarks: The Galton
Lecture". Eugenics Review 38 (1): 39–40.
Keynes, John Maynard (1931). Essays in Persuasion. ISBN 0-393-
00190-3.
Fraser, Nick (8 November 2008). "John Maynard Keynes: Can the
great economist save the world?". The Independent (UK). Retrieved 20
November 2008.
Marr, Andrew (2007). A History of Modern Britain. London:
Macmillan. p. 12. ISBN 978-0-330-43983-1.
To, Wireless (22 April 1946). "Lord Keynes Dies of Heart Attack. Noted
Economist Exhausted by Strain of Recent Savannah Monetary
Conference". New York Times. Retrieved 10 February 2010. John
76
to provide clear, legible mapping with the latest digital data from the
Ordnance Survey.
Activities 1944-1946: The Transition to Peace John Maynard Keynes,
Donald Edward Moggridge 1979 This edition contains all Keynes's
published writings, including less accessible articles and letters to the
press, as well as previously unpublished speeches, government memoranda
and minutes, drafts and economic correspondence.
Anticipations of the General Theory?: And Other Essays on ...Don
Patinkin 1984 This book examines the much-debated question of whether
John Maynard Keynes' greatest work—The General Theory of
Employment Interest and Money—was an instance of Mertonian
simultaneous scientific discovery.
Baron Eric Roll Roll of Ipsden 1968
Biography of an Idea: John Maynard Keynes and the General ...David
Felix 1995 Biography of an Idea devotes four chapters to an analysis of
The General Theory and an examination of the economic logic of Keynes.
The author disentangles the work's fundamentally simple theses from its
difficult technical pre-sentation.
Bloomsbury Group: John Maynard Keynes, Virginia Woolf, E. ...Source:
Wikipedia, Books, LLC 2011 Please note that the content of this book
primarily consists of articles available from Wikipedia or other free sources
online.
Breve tratado sobre la reforma monetaria John Maynard Keynes 1992
Conjunto de estudios clásicos que Keynes sustenta en ejemplos del proceso
productivo de Estados Unidos, Gran Bretaña y otros países de Europa.
Business cycle theory before Keynes Claude Diebolt 2009
Can Lloyd George Do It?: An Examination of the Liberal Pledge John
Maynard Keynes, Sir Hubert Douglas Henderson 1929
Capital Controversy, Post Keynesian Economics and the ... Σελίδα 217
Philip Arestis, Gabriel Palma, Malcolm Sawyer 2005 20. KEYNES. AND.
FINANCIAL. MARKET. PROCESSES. IN. HISTORICAL. CONTEXT.
From. the. Treatise. To. The. General. Theory. Michael S.Lawlor To me,
Geoff Harcourt represents strength, humour and decency in a combination
that ...
80
Interpreting Keynes for the 21st century Paul Davidson 2007 This book
presents the fourth volume of the collected writings of Paul Davidson.
Interpreting Mr. Keynes: the IS-LM enigma Warren Young 1987
Interpreting Mr. Keynes: the IS-LM enigma Warren Young 1987
Introducing Keynes: A Graphic Guide Peter Pugh 2014 This is what
Maynard Keynes (1883–1946) said on the BBC in January 1931 as the
whole world, the UK included, slid ever further into the greatest depression
of modern times: The best guess I can make is that whenever you save
five ...
J. M. Keynes, vision and technique Helen Anabel Phillips 1951
J.M. Keynes in Retrospect: The Legacy of the Keynesian ...John Hillard
1988
Jeffrey Escoffier 1995 Introduces Keynes' economic theories and their
effects, recounts his career and relationships, and suggests that his
willingness to question ideas came from his homosexuality
John Maynard Keynes 1883-1946: Economist, Philosopher, ...Robert
Skidelsky 2004 Meticulously researched and beautifully written, this
abridged biography offers us a sympathetic account of the life and
influences of a passionate visionary, and an invaluable insight into the
formation of a new economic philosophy whose ...
John Maynard Keynes als "Psychologe," Σελίδα 97 Günter Schmölders
1956 Zur Theorie der Erwartungen H. St. Seidenfus John Maynard
Keynes, von dessen Werk über die Wahrscheinlichkeitsrechnung an
mehreren Stellen dieses Sammelwerks die Rede ist, hat die „Erwartungen"
seiner Wirtschaftssubjekte, der ...
John Maynard Keynes and International Relations: Economic ...Donald
Markwell 2006 This book explores the evolution of Keynes' thinking on
relations, & shows how this is linked to the changing of his opinions on
economic matters, in a way which deepens our understanding of both.
John Maynard Keynes and the Economy of Trust: The ...Donatella Padua
2014 (Keynes,2006, p.335) The Economy of Trust develops in a context
of high uncertainty. Keynes, as we have seen, maintains that the economy
is built on a radical uncertainty. In an article in 1937 (Keynes, 1937), The
Master argues that neither a ...
85
John Maynard Keynes arthur cecil pigou ein vegleich Silvio Favini 19??
The world after Keynes: an examination of the economic order
John Maynard Keynes Donald Edward Moggridge 1976 A reevaluation
of the respected English economist's approach to the problems of his age
and continuing influence
John Maynard Keynes Hyman Minsky 2008 “Today, Mr. Minsky's view
[of economics] is more relevant than ever.”The New York Times “Indeed,
the Minsky moment has become a fashionable catch phrase on Wall
Street.”-The Wall Street Journal John Maynard Keynes offers a timely ...
John Maynard Keynes Paul Davidson 2007 This book examines the life
of John Maynard Keynes, explores his influential writings and theories,
and assesses his legacy.
John Maynard Keynes und die britische Deutschlandpolitik: ...Matthias
Peter 1997 Zusammenfassende. Überlegungen: Die. britische.
Deutschlandpolitik. zwischen. Machtanspruch. und.
Modernisierungszwang. In einer seiner letzten großen Reden vor dem
Deutschen Reichstag entwickelte Reichskanzler Bismarck 1888 ...
John Maynard Keynes Vincent Barnett 2013 Vincent Barnett
emphasizes the relationship between the personal and professional by
presenting the book chapters in pairs, examining first the central features
of Keynesâe(tm)s life, personal development and policy ideas over the
period ...
John Maynard Keynes, 1883-1946, Fellow and Bursar King's College
(University of Cambridge) 1949
John Maynard Keynes, 1883-1946: Fellow and Bursar King's College
(University of Cambridge) 1949
John Maynard Keynes, Critical Assessment: Second series John
Cunningham Wood 1994
John Maynard Keynes, Robert Skidelsky 2016 Readers trust the series to
provide authoritative texts enhanced by introductions and notes by
distinguished scholars and contemporary authors, as well as up-to-date
translations by award-winning translators.
John Maynard Keynes, Royal Economic Society (Great Britain) 1971
John Maynard Keynes. Speranze tradite (1883-1920) Robert Skidelsky,
Federico Varese 1989
86
memoir, My Early Beliefs, about his intellectual outlook before the First
World War. He read the memoir to an ...
Keynes and the Cambridge Keynesians: A 'Revolution in ...Luigi L.
Pasinetti 2007 Keynes and the Cambridge Keynesians traces the historical
development of Keynesian Economics.
Keynes and the Classics Reconsidered Σελίδα 141 James C.W. Ahiakpor
1998 8. KEYNES. ON. THE. IMPACT. OF. MONEY. SUPPLY.
CHANGES*. Gregory B. Christainsen California State University, Hay
ward "The individualistic Capitalism of to-day, precisely because it
entrusts saving to the individual investor and ...
Keynes and the 'Classics': A Study in Language, ... Σελίδα 96 Michel
Verdon 2002 Accordingly, I have completely ignored the links between
the Treatise on Money and the General Theory and the historical
investigation regarding Keynes's predecessors.1 A vast literature has
explored the relationship between Keynes and ...
Keynes and the classics: two lectures on Keynes' ...Axel Leijonhufvud
1969
Keynes and the Market: How the World's Greatest Economist ...Justyn
Walsh 2008 For an individual with a good understanding of the market,
Keynes believed that a diversified stock portfolio made no sense
whatsoever. He thought thatthoseinvestors who couldproperly analyze
stocks shouldfocus only on potential “stunners” ...
Keynes and the Modern World Σελίδα 49 George David Norman
Worswick, James Trevithick 1983 2 On Keynes and MonetarismALLAN
H. MELTZER It is an honor to be invited to speak at a conference honoring
Keynes. His work has probably stimulated more pages of analysis,
discussion and controversy than the work of any other ...
Keynes and the Modern World: A Review Article. Walter S. Salant 1985
Keynes on the Australian Wages System
Keynes and the modern world: proceedings of the Keynes ...George David
Norman Worswick, James Anthony Trevithick 1983 This volume presents
the proceedings of the major conference held to celebrate the centenary of
the birth of John Maynard Keynes at King's College, Cambridge.
Keynes and the Neoclassical Synthesis: Einsteinian Versus ...Dario Togati
2012 Keynes These arguments also apply to the dispute between Keynes
and Neoclassical theory. As Hicks pointed out, Keynes's aggregates differ
90
monetary environment of the 1930s would be the norm from then on.
(Krugman, 2006) But such errors as Krugman's are hardly surprising.
Keynes's message was distorted from the moment it was first published.
Keynes's Impact on Monetary Economics John Cannon Gilbert 1982
Keynes's Lectures, 1932-35, Notes of a Representative ...John Maynard
Keynes, Thomas K. Rymes 1989 A record of the path by which Keynes
reached the views that have had such an impact on economic policy
Keynes's Monetary Theory: A Different Interpretation Σελίδα 17 Allan H.
Meltzer 2005 Early in the decade, Keynes was a quantity theorist of
Cambridge persuasion who differed little from his teachers and colleagues.
By the end of the decade, with the Treatise on Money nearly complete,
most of the main ideas that we think of as ...
Keynes's Philosophical Development John B. Davis 1994 Examines the
change and development in Keynes's philosophical thinking from his
earliest unpublished Apostles papers through to The General Theory.
Keynes's Principle of Effective Demand Edward J. Amadeo 1989 This is
a compelling exploration of the analytic connections and ruptures between
A Treatise and The General Theory; it merits reading by putative
Keynesians and anti-Keynesians alike. William Darity Jr., Journal of
Economic History
Keynes's relevance today Fausto Vicarelli 1985
Keynes's The General Theory of employment, interest, and ...Fred R.
Glahe, John Maynard Keynes 1991 In this book, Fred R. Glahe brings to
this pivotal work the techniques of textual criticism developed in
disciplines such as literature and theology.
Keynes's Theoretical Development: From the Tract to the ... Σελίδα 31
Toshiaki Hirai 2007 The present chapter briefly surveys Keynes's life,1
which spans the period from late nineteenth century to the Second World
War, and falls into five stages (dealt with here in as many sections). We
will take it in relation to the external events ...
Keynes's Theoretical Development: From the Tract to the ...Toshiaki Hirai
2008 Comprehensive and authoritative, this book, written by a recognized
authority on the subject explores the contributions to modern economics
by John Maynard Keynes and addresses neglected, yet crucial aspects of
the genesis of Keynesian ...
96
The New Economics: Keynes and the Chaos of the Economic ...John
Maynard Keynes, Anatol Murad 1985
The New Economics: Keynes' Influence on Theory and Public ...Seymour
E. Harris 2005 This scarce antiquarian book is a facsimile reprint of the
original. Due to its age, it may contain imperfections such as marks,
notations, marginalia and flawed pages.
The Open Economy Macromodel: Past, Present and Future: ...Arie Arnon,
Warren Young 2002 WHY. WHITE,. NOT. KEYNES? INVENTING.
THE. POST-WAR. INTERNATIONAL. MONETARY. SYSTEM. by
D.E. Moggridge University of Toronto We should be very grateful to
James Boughten for this paper. By using new sources, it throws ...
The philosophy and economics of J.M. Keynes Bill Gerrard, John Hillard
1992 This important book explores the significance of Keynes beyond the
confines of the orthodox debate.
The Philosophy of Keynes's Economics: Probability, ... Σελίδα 71 Jochen
Runde, Sohei Mizuhara 2003 Introduction Writing the history of the ideas
of John Maynard Keynes is a complex and difficult business. Keynes led
a complex and busy life, and this fact alone would make the scholar's work
complicated all the more so since Keynes left so ...
The Plan for Milton Keynes Mark Clapson, Mkdc, Milton Keynes
Development Corporation, 2013 The UK's largest new town, Milton
Keynes, is the product of a transatlantic planning culture and a plan for a
relatively low-density motorised city generously endowed with roads,
parklands, and the infrastructure of cabling for communications ...
The Policy Consequences of John Maynard Keynes Σελίδα 128 Harold
L. Wattel 1985 10. Relevance. of. Keynes. for. Developing. Countries. H.
W. Singer. I wish to dedicate this paper to Dudley Seers, whose essay ' 'The
Limitations of the Special Case"1 has been one of my chief sources of
guidance. His death a few months ...
The Political and Economic Thought of the Young Keynes: ... Σελίδα 1
Carlo Cristiano 2014 Keynes's life is usually narrated as the story of the
young philosopher and mathematician who tried to revolutionize the theory
of probability and ended up becoming the great economist, who
revolutionized the theory of Money and contributed ...
The relationship between Sraffa and Keynes: toward a ...David Rogers
Andrews 1993
107
Keynesianism
109
Imperialism in the 21st Century: War, Neo-liberalism & ... Σελίδα 33 Doug
Lorimer 2002 KEYNESIANISM. AND. THE. POLITICAL. NEEDS. OF.
US. IMPERIALISM. There is a further myth about the postwar "boom",
that is, that the US imperialist rulers sacrificed their own narrow interests
at the end of World War II to rebuild the world ...
In Defense of Post-Keynesian and Heterodox Economics: ... Σελίδα 87
Frederic S. Lee, Marc Lavoie 2012 5. Post. Keynesianism,. heterodoxy,.
and. mainstream. economics1. David. Dequech. An interesting debate has
emerged in recent years regarding the concepts and the intellectual contents
of orthodox, heterodox, and mainstream economics.
In the Long Run We're All Dead: The Canadian Turn to ... Σελίδα 45.
Timothy Lewis 2013 However, with this cure no Keynesian can agree: the
essence of the Keynesian system is that it cures unemployment. One can
stop the increase in corporate prices and trade-union wages by direct
action. (I've long thought such action ...
In the Name of Social Democracy: The Great Transformation,
...Gerassimos Moschonas 2002 10. In. Search. of. New. Prophets: From.
Keynesianism. to. Liberalism. The Questioning of the Social-Democratic
Compromise The Keynesian Equation Jammed In becoming the flagship
of the socialist and social-democratic parties, Keynesian ...
Industrial Policy (Routledge Revivals): USA and UK Debates. Grahame
Thompson 2014 Despite all this, Piore and Sabel formally insist that
Keynesianism mightbe revived and markets could be stabilized so that
mass production might provide a basis for renewed prosperity onthe other
sideof the present industrial divide.
Institutions and Innovation: Voters, Parties, and Interest ... Σελίδα 71
Marcus Kreuzer 2001 Organization. and. Ossification: Socialists,.
Keynesianism,. and. Catch-. AH. Politics. In the late nineteenth century,
the Section francaise de I'internationale ouvriere (SFIO) and the
Sozialdemokratische Partei Deutschlands (SPD) were ...
Institutions and the Role of the State Σελίδα 103 Leonardo Burlamaqui,
Ana C‰lia Castro, Ha-Joon Chang 2000 There was increasing unease
with even the limited version of 'Keynesianism' that had made its way into
the mainstream. Consequently, the neoclassical fundamentalists mounted
a counter-attack. Emanating from Chicago and elsewhere, this ...
John Maynard Keynes, Critical Assessment: Second series Σελίδα 198
John Cunningham Wood 1994 We are all familiar with the Thatcher
117
USA in the late 1950s, with the publication of influential academic papers
arguing that the ...
Keynes: The Twentieth Century's Most Influential Economist Peter Clarke
2010 T. Epilogue. British. and. American. Keynesianism. policy. 'Since
Bretton Woods, the world has been living on a financial model, the
AngloSaxon model,' said the French President, Nicolas Sarkozy, happy to
salute the G20 meeting in April ...
Keynesian Economics Σελίδα 64 Alan Coddington 2013 ... what was
'really' there. I therefore shall not be concerned with the authenticity or
doctrinal purity of Hicks's Keynesianism.1 In considering Hicks's
contribution to Keynesian Economics, I shall be concerned with two
distinct but related matters.
Keynesianism and the Keynesian revolution in America: a ...Lorie
Tarshis, O. F. Hamouda, Betsey Barker Price 1998 This book will be of
great interest to scholars interested in the history of economic thought and
Keynesian Economics.
Keynesianism and the Scandinavian models of economic policy Jukka
Pekkarinen 1988
Keynesianism as Fulfillment. 2013 This essay is composed of three
chapters that contextualize the Keynesian Revolution within trends in
history of economic thought and trends in institutional transformations in
American public administration.
Keynesianism restropect and prospect 1963
Keynesianism Today: A Critique of Theory and Economic Policy Irina
Mikhaĭlovna Osadchai︠a︡ 1983
Keynesianism Vs. Monetarism Under Indian Conditions: ...Indian
Economic Association. Conference 1980
Keynesianism Vs. Monetarism: And Other Essays in Financial ...Charles
P. Kindleberger 2013 The clash of Keynesianism and 'monetarism' is
intense today at the levels of theory and policy. The contention of this
article is that it has been so for at least 250 years.' Keynesianism is loosely
defined as the economic view that, left to itself.
Keynesianism Vs. Montarism: And Other Essays in Financial ...Charles
P. Kindleberger 2005 This book was first published in 1985.
119
Keynesianism, monetarism and the crisis of the state Simon Clarke 1988
. . . makes a significant contribution. Tom Bottomore, University of
Sussex, UK
Keynesianism, Monetarism, and the Crisis of the State Simon Clarke 1988
First published in 1988, this book has acquired new relevance in the wake
of the global financial crisis.
Keynesianism, Neo-Keynesianism, Post-Keynesianism: ...Ivanciu
Nicolae-Văleanu 1982
Keynesianism, Social Conflict, and Political Economy Massimo De
Angelis 2000 Shows that there is more to economics than dry models and
esoteric equations.
Macroeconomic Foundations of Macroeconomics Σελίδα 36. Alvaro
Cencini 2012 Keynesian Economics: a neoclassical interpretation of
Keynes's theory The expression Keynesian Economics will here be used
to cover the work of all those economists who, although more or less
inspired by Keynes's macroeconomic theory, ...
Macroeconomic Instability and Coordination: Selected ... Σελίδα 52. Axel
Leijonhufvud 2000 3. Keynesianism,. Monetarism. and. rational.
expectations: some. reflections. and. conjectures*. To what extent is
Keynesianism discredited? Is there anything left? Did Monetarism score a
total victory? Must rational expectations make New ...
Markets, Unemployment, and Economic Policy Σελίδα 238 Philip Arestis,
J. Gabriel Palma, Malcolm C. Sawyer 1997 INTRODUCTION Geoff
Harcourt has been a major contributor to, and proponent of, postKeynesian
Economics. Within the broad diversity of Post-Keynesian Economics
(see Hamouda and Harcourt 1988) two different approaches can be ...
Marxist Political Economy: Essays in Retrieval : Selected ... Σελίδα xix
Geoffrey Pilling, Doria Pilling 2012 For example, the critical dissection
of Keynesianism is of potentially more significance, and prominence,
when it has both some prospect of being adopted and historical experience
of its successes and failures are closer to hand. Thirty years ...
Medium-run Keynesianism: Hysteresis and Capital Scrapping 1988
Modern Macroeconomics: A Post-Keynesian Perspective Stanley Bober
2015 Originally published in 1988, this book combines a systematic
exposition of Post-Keynesianism analysis with an account of its historical
development.
120
tradition and that in this tradition a key role, if not the key role, is
government manipulation of fiscal policy weapons to achieve economy-
wide ...
Reconstructing Keynesian Economics with Imperfect ...Robin Lapthorn
Marris 1991 Qualifications for admission appeared to be brains and
Keynesianism, but they could be traded off. A number of interesting
visitors came in, Kenneth Arrow, Milton Friedman (before he invented
monetarism), Robert Solow. Well-known ...
Reconstructing Keynesian Macroeconomics Volume 2: ...Carl Chiarella,
Peter Flaschel, Willi Semmler 2013 This book represents the second of
three volumes offering a complete reinterpretation and restructuring of
Keynesian macroeconomics and a detailed investigation of the
disequilibrium adjustment processes characterizing the financial, the ...
Reconstructing Keynesian Macroeconomics Τόμος 2 Carl Chiarella, Peter
Flaschel, Willi Semmler 2012 This book represents the second of three
volumes offering a complete reinterpretation and restructuring of
Keynesian macroeconomics and a detailed investigation of the
disequilibrium adjustment processes characterizing the financial, the ...
Re-forming the State: The Politics of Privatization in ... Σελίδα 87 Hector
E. Schamis 2002 Chapter. 5. Great. Britain. From. Keynesianism. to.
Thatcherism. and. Beyond. This chapter shifts the analysis from market
reform carried out in a developing, import-substituting economy under a
repressive authoritarian regime to an ...
Regional Economic Change in Europe: A Neo-Schumpeterian Vision. Gert
J. Hospers 2004 At that time, the defensive Keynesian approach of the City
of Copenhagen was replaced by a Schumpeterian growth orientation that
paved the way for fruitful regional cooperation by local politicians across
the Sund in the 1990s. First, we ...
Remaking the Italian Economy Σελίδα 35 Richard M. Locke 1995 Unlike
the situation in most other advanced industrial nations, in Italy the new
economics of Keynesian demand management did not play a dominant role
in postwar economic policy (De Cecco 1989).1 Luigi Einaudi and the other
neoclassical ...
Rethinking the Keynesian Revolution: Keynes, Hayek, and ... Σελίδα 86
Tyler Beck Goodspeed 2012 Indeed, Alvin Hansen, who not only brought
Keynesianism to academic America but also, with Hicks, embalmed
124
The Military Industrial Complex At 50. David Swanson 2013 Pitfalls. of.
Military. Keynesianism. By. Dave. Shreve. "You cannot qualify war in
harsher terms than I will. War is cruelty and you cannot refine it; and those
who brought war into our country deserve all the curses and maledictions
a people can ...
The Oil Shocksof 1973. and. 1979: Keynesianism. and. Beyond. Global.
economic. situation. In virtually all OECD countries, the decades following
the Second World War were characterised by almost continuous and
unprecedented ...
The Oxford Handbook of Post-Keynesian Economics, Volume 1: ...G. C.
Harcourt, Peter Kriesler 2013 1. INTRODUCTION. INVITED to
contribute to this Handbook a chapter dealing with “Sraffa's role in the
criticism of mainstream theory and the development of Post-Keynesian
theory,” I asked myself whether such a contribution was ...
The Oxford Handbook of Post-Keynesian Economics, Volume 1:
...Geoffrey Harcourt, Peter Kriesler 2013 1. INTRODUCTION. INVITED
to contribute to this Handbook a chapter dealing with “Sraffa's role in the
criticism of mainstream theory and the development of Post-Keynesian
theory,” I asked myself whether such a contribution was ...
The Policy Consequences of John Maynard Keynes Σελίδα 48 Harold L.
Wattel 1985 But the Keynesian influence on public policy as we see it
today is the result of the application or misapplication of his views,
primarily those conveyed in The General Theory, by his disciples. As is
often the case, with the passage of time an ...
The Political Power of Economic Ideas: Keynesianism Across ...Peter A.
Hall 1989 " The contributors to this volume take that assertion seriously.
The Power of Economic Ideas: The Origins of Keynesian ... Σελίδα 225
Alex Millmow 2010 9. Australia,. 1936–1938: the. nascent. Keynesian.
state? Introduction. The two grand themes of this monograph are, to repeat,
the influence of economists' ideas on Australian public policy in the 1930s
and whether their assimilation of ...
The Return to Keynes Σελίδα 94 Bradley W. Bateman, Toshiaki Hirai,
Maria Cristina Marcuzzo 2010 Tobin's Keynesianism Robert W. Dimand
Introduction In September 1936, when James Tobin was an eighteen-year-
old sophomore taking principles of economics (Ec A) at Harvard, his tutor,
Spencer Pollard (a graduate student who was also ...
129
Keynesianismus
PostKeynensianismus
Lexikon der Volkswirtschaft: über 2200 Begriffe für ... Σελίδα 459
Michael Hohlstein 2009 Monetarismus (= Neoquantitätstheorie) l Post-
Keynesianismus Neue Keynesianische Makroökonomik (NKM) Neue
Klassische Makroökonomik (NCM) (= Monetarismus vom Typ II) Abb.
50: Makroökonomische Theorien im ...
Lohn und Gewinn: Volksund betriebswirtschaftliche Grundzüge Heinz-J.
Bontrup 2008 607 Benannt nach dem britischen Ökonomen Arthur Cecil
Pigou (1877. 4.7 Keynesianischer Ansatz 271 4.7.5 Zur neoklassischen
Synthese und zum Post-Keynesianismus.
Macroeconomic Theory: Diversity and Convergence Σελίδα 83 Gary
Mongiovi, Christof Rühl 1993 Riese, H. (1986) Theorie der Inflation,
Tubingen: J.C.B. Mohr. Riese, H. (1987) 'Aspekte eines monetaren
Keynesianismus Kritik der postKeynesianischen Okonomie und
Gegenentwurf, in Post-Keynesianismus. Okonomische Theorie in der ...
Marktstruktur und gesamtwirtschaftliche Entwicklung: ... Σελίδα 114.
Bernhard Gahlen 2013 Diese prinzipiell nicht übersteigbare Hürde der
Unsicherheit begründet im Post-Keynesianismus einerseits die fast schon
agnostische Forschungshaltung in der Manier von G.S. Shackle,
andererseits aber die reichhaltige und lebendige ...
Menschenrecht auf Arbeit?: sozialethische Perspektiven Σελίδα 95
Johannes Rehm, Hans Günter Ulrich, Heinz-Josef Bontrup 2009 ... des
Neoliberalismus und auf der anderen Seite der auf den Staat setzende
Keynesianismus und seine Weiterentwicklung zu einem Post-
Keynesianismus auch als „Keynes-Plus" bezeichnet. Die herrschenden
Eliten aus Wirtschaft, Politik, ...
Money, Distribution Conflict and Capital Accumulation: ... Σελίδα 199
Eckhard Hein 2008 Kurz, H.D. (1987b) 'Elastizitat der industriellen
Produktion, Kapitalakkumulation und Einkommensverteilung', in Post-
Keynesianismus. Okonomische Theorie in der Tradition von Keynes,
Kalecki und Sraffa (Marburg: Metropolis). Kurz, H.D. ...
Money, Markets, and the State: Social Democratic Economic ...Ton
Notermans 2007 Oslo: Aschehoug/Norges Bank. Riese, Hajo (1986),
Theorie der Inflation. Tübingen: J. C. B. Mohr. (1987A), “Aspekte eines
monetären Keynesianismus — Kritik und Gegenentwurf.” In K. Dietrich
et al., Post-Keynesianismus. Marburg: Metropolis ...
Neues Geld alte Geldpolitik?: die EZB im ... Σελίδα 64 Arne Heise 2002
lange Zeit unklar, welche Kriterien den Post-Keynesianismus als ein
150
Post-Keynesian
Keynesian Economics
Keynes and the Quest for a Moral Science: A Study of ...D. W. Parsons
2010 Keynes and the Quest for a Moral Science is an accessible, highly
readable account which will appeal to scholars and students in the field of
economics, history of economics, public policy and history of ideas.
Keynes' Economics (Routledge Revivals): Methodological Issues Senior
Lecturer in Social Sciences Tony Lawson, Tony Lawson, Hashem Pesaran
2009 4. EXPECTATIONS. IN. KEYNESIAN. ECONOMETRIC.
MODELS. Simon Wren-Lewis Introduction A discussion of the treatment
of expectations in Keynesian econometric models is almost bound to be
conducted in terms of responses to the ...
Keynes' Economics: Methodological Issues Tony Lawson, M. Hashem
Pesaran 1985
Keynes Hayek: The Clash that Defined Modern Economics. Nicholas
Wapshott 2011 From their first face-to-face encounter to the heated
arguments between their ardent disciples, Nicholas Wapshott here unearths
the contemporary relevance of Keynes and Hayek, as present-day
arguments over the virtues of the free market and ...
Keynes, Uncertainty and the Global Economy: Beyond Keynes, ...Sheila
C. Dow, John Hillard 2002 1 . The. microeconomic. foundations. of.
Keynesian. economics. Athol. Fitzgibbons. The adjustment process has not
been successfully described as optimising behaviour, [so that it] carries
conviction in our profession. This failure, neither ...
Keynesian & Post-Keynesian Economics. 2003 Covering the work of
many of the leading theorists of the Keynesian and Post-Keynesian
traditions the titles in this set examine both the Keynesian contribution to
economic thoughts and analyze its limitations.
Keynesian Economic Policies. Alain Barrere 1990 This collection of
essays is a plea for a renewal of policies based on the most fundamental
ideas of Keynes as well as on recent developments in economic theory.
Keynesian Economics and Price Theory: Re-orientation of a ... Σελίδα 1
Masayuki Otaki 2015 Chapter 1 Introduction 1.1 Introduction to Part 1
Keynes (1936, Chap. 2) argues: For it is far from being consistent with the
general tenor of the classic theory, which has taught us to believe that
prices are governed by marginal prime cost in ...
Keynesian Economics in the Stream of Economic Thought Σελίδα 120.
Harlan Linneus McCracken 1961 The major economic problem has been
173
1920s and 1930s. That is because Keynes and his associates were
successful, in the well-defined ...
The Structure of Post-Keynesian Economics: The Core ...G. C. Harcourt
2006 This is a major contribution to post-Keynesian thought.
The 'Uncertain' Foundations of Post Keynesian Economics: ... Σελίδα 6
Stephen Dunn 2010 In what follows we begin by making a positive
contribution to the development of Post Keynesian Economics by refuting
allegations of incoherence and detailing some of the implications of this
ontological vision more broadly. The book is ...
Why Reaganomics and Keynesian Economics Failed James E. Sawyer
2014
author, John Maynard Keynes, had clearly cribbed his style of portraiture
from his Bloomsbury associate.
Global Citizen – Challenges and Responsibility in an ... Σελίδα ix Aksel
Sterri 2015 The world must have looked small to the great economist John
Maynard Keynes. Before the outbreak of the First World War, in the
famous essay The Economic Consequences of the Peace (1919), he
writes: “The inhabitant of London could ...
Global Population: History, Geopolitics, and Life on Earth Σελίδα 60
Alison Bashford 2014 Population and the Peace The postwar world was
ushered in by the Paris Peace Conference. and by its critics: the Germans,
the Japanese, and John Maynard Keynes. advisor to the british prime
minister david lloyd George, Keynes came to disagree sharply with the ...
Where Keynes saw economic consequences, bowman saw geographical
solutions, an opportunity for boundaries to be redrawn in a ...
Government and the Economy: An Encyclopedia: An Encyclopedia. David
A Dieterle Ph.D., Kathleen M. Simmons 2014 The Economic
Consequences of the Peace. New York: Harcourt, Brace & Howe.
Keynes, John Maynard. 1913. Indian Currency and Finance. London:
Royal Economic Society. Selected Works about John Maynard Keynes
MaynardKeynes.org ...
Grand Pursuit: The Story of Economic Genius Σελίδα 505. Sylvia Nasar
2011 John Maynard Keynes to Florence Keynes, Keynes Papers, King's
College Archive. John Maynard Keynes, The Economic Consequences of
the Peace (London: Macmillan and Co., 1920), 233 (note 1). John
Maynard Keynes to Duncan Grant, ...
Great Powers: America and the World After Bush. Thomas P.M. Barnett
2009 Again, if Roosevelt had not created that liberal economic order, then
Truman's subsequent initiation of the containment ... Roosevelt's solution
set like this: word (The Economic Consequences of the Peace), prophet
(John Maynard Keynes),
How Fascism Ruled Women: Italy, 1922-1945 Σελίδα 289 Victoria de
Grazia 1992 John Maynard Keynes, The Economic Consequences of the
Peace (1920; New York: Harper and Row, 1971), pp. 9-26. 4. Gunnar
Myrdal, Population: A Problem for Democracy (Cambridge: Harvard
University Press, 1940); as well as Alva ...
Indian Currency and Finance. John Maynard Keynes 2006 Published
in 1913, this is the first book from the renowned economist, and
184
even for the outbreak of the Second World War. ... such classic anti-
reparations texts as John Maynard Keynes' Economic Consequences of
the Peace (1920), although we can still read ...
Liberalism and War: The Victors and the Vanquished Σελίδα 70. Andrew
J. Williams 2006 The policy has been blamed for destroying economies,
even for the outbreak of the Second World War. ... such classic anti-
reparations texts as John Maynard Keynes' Economic Consequences of
the Peace (1920), although we can still read ...
Life and Death in the Cinema of Weimar Germany, 1919--1924 2008 8 See
John Maynard Keynes' The Economic Consequences of the Peace (1919)
for a sober defense of this position. In this text he believed that such a
vindictive approach would surely sow the angry seeds for revenge. political
support on the ...
Lords of Finance: The Bankers Who Broke the World Liaquat Ahamed
2009 What an extraordinary episode in the economic progress of man that
age was which came toanend in August 1914! —JOHN MAYNARD
KEYNES, The Economic Consequences of the Peace IN 1914, London
stood at the center of an ...
Maynard Keynes: An Economist's Biography Σελίδα 143 Donald
Moggridge 2002 ... of the same name, one of whom wrote the Economic
Consequences of the Peace, and the other A Treatise on Probability. ...
In The Collected Writings of John Maynard Keynes, the editors were
committed to republishing all of Keynes's ...
Michael Huemer 2012 Kant, Immanuel. 1957. Perpetual Peace, ed. and tr.
Lewis White Beck. Indianapolis: BobbsMerrill. ... Keynes, John Maynard.
1920. The Economic Consequences of the Peace. New York: Harcourt,
Brace and Howe. King, Martin Luther. 1991.
Non-Mainstream Dimensions of Global Political Economy: ...Byasdeb
Dasgupta 2013 78, 2004. Keynes, John Maynard (1926) The End of
Laissez-Faire, republished in The End of Laissez-Faire: The Economic
Consequences of the Peace, BN Publishing 2009, available online at:
www.amazon.com/End—Laissez—Faire— ...
Pacifism Σελίδα 100 David A. Martin 2013 The efforts of the peace party
in the Commons continued to give evidence of recovered confidence. ...
Parliament: from the Labour Leader, and the I.L.P., from the New
Statesman and the National Executive of the Labour Party—and from John
Maynard Keynes. (b) 1919—1931 Keynes's The Economic
187
The Invisible Hand: Economic Thought Yesterday and Today Σελίδα 86.
Ulrich van Suntum 2005 In 1936 the English economist John Maynard
Keynes published his "General Theory of Employment, Interest and ...
on the "Economic Consequences of the Peace", in which he denounced
the Treaty of Versailles and the punitive reparations ...
The Means to Prosperity, the Great Slump of 1930, the ...John Maynard
Keynes 2012 Three of Keynes' classic works in a single volume.
The Most Valuable Asset of the Reich: A History of the ...Alfred C.
Mierzejewski 2014 Inflation economics also prevented the Reichsbahn
from charging adequate tariffs. ... the recent book by Bruce Kent, and the
classic forerunner of all of this literature, The Economic Consequences of
the Peace by John Maynard Keynes ...
The Nuremberg Trials: International Criminal Law Since ... Σελίδα 284
Lawrence Raful, Herbert R. Reginbogin, Christoph Safferling 2006 The
great irony of war is that the more catastrophic and widespread its
destructive consequences, the less likely that those caught in ... 2 John
Maynard Keynes, The Economic Consequences of the Peace 225
(Harcourt, Brace & Howe 1920).
The Origin of Financial Crises: Central Banks, Credit ... Σελίδα 64 George
Cooper 2008 As Keynes predicted, the consequences of the post-World
War I peace treaty was disastrous. The treaty contributed to Germany's
bankruptcy, hyperinflation and economic collapse. Having witnessed these
events firsthand, ... 36 Once again John Maynard Keynes appears in the
story. Following World War I, Keynes became ...
The Policy Consequences of John Maynard Keynes Σελίδα 116. Harold
L. Wattel 1985 The. Influence. of. Keynesian. Thought. on. German.
Economic. Policy. Dudley. Dillard. From World War I Through World
War II John Maynard Keynes had a special relation with Germany dating
from his participation in the Versailles peace ...
The Power to Tax: Analytic Foundations of a Fiscal ... Σελίδα 109 Geoffrey
Brennan, James M. Buchanan 2006 John Maynard Keynes, The
Economic Consequences of the Peace, p. 236 Money creation can be and
frequently has been used by government as a device for raising revenue. In
this chapter, we wish to examine Money creation as a revenue ...
The Second World War Σελίδα 321 Spencer C. Tucker 2003 J. W. Wheeler
Bennett, Brest Litovsk: The Forgotten Peace, March 1918 (London, 1938),
pp. ... John Maynard Keynes, The Economic Consequences of the Peace
192
A Treatise on Probability
The Failure of Risk Management: Why It's Broken and How to ...Douglas
W. Hubbard 2009 Economist John Maynard Keynes's 1921 book,
Treatise on Probability, did invoke equations, but it was more about
philosophy and pure mathematics than risk in decision making. Nor was
there much attention paid to ''optimization'' problems ...
The General Theory of Employment, Interest and Money by ...John
Maynard Keynes 2009 This new edition of Keynes' classic text includes
a foreword by Paul Krugman.
The General Theory of Employment, Interest and Money John
Maynard Keynes 2009 This new edition of Keynes' classic text includes
a foreword by Paul Krugman.
The General Theory: Volume 2 Overview, Extensions, Method ...G. C.
Harcourt, P. A. Riach 2005 (1973b) A Treatise on Probability, in The
Collected Writings of John Maynard Keynes, Vol. VIII, London:
Macmillan. (1973c) The General Theory and After. Part 1: Preparation,
in The Collected Writings of John Maynard Keynes, Vol.
The History of Economic Thought: A Reader Σελίδα 590 Steven G.
Medema, Warren J. Samuels 2003 (1921) A Treatise on Probability,
London: Macmillan. (1923) A Tract on Monetary Reform, London:
Macmillan. (1930) A Treatise on Money, 2 vols, London: Macmillan.
(1971-1989) The Collected Writings of John Maynard Keynes.
London: ...
The Improbability Principle: Why Coincidences, Miracles, ...David J.
Hand 2014 notion of probability: “The most fundamental principle of all
in gambling is simply equal conditions ... of Money, ... The eminent
economist John Maynard Keynes was a ... of logical probability,
describing it in his book A Treatise on Probability.
The Making of Keynes' General Theory Σελίδα xxiv. Richard F. Kahn,
Raffaele Mattioli Foundation 1984 1 92 1 Publication of A Treatise on
Probability by John Maynard Keynes (London: Macmillan). 1922
Publication of Money by Dennis H. Robertson, with an Introduction by
John Maynard Keynes (London : Nisbet & Co). 1923 Publication of A ...
The Means to Prosperity, the Great Slump of 1930, the ...John Maynard
Keynes 2012 Three of Keynes' classic works in a single volume.
The Nature of Economic Thought: Selected Papers 1955-1964 G. L. S.
Shackle 2010 3 KEYNES AND THE NATURE OF HUMAN AFFAIRS
203
appointed to study and ... One of the members of the Commission was the
young economist and sometime civil servant, John Maynard Keynes ...
Biography of an Idea: John Maynard Keynes and the General ...David
Felix 1995 John Maynard Keynes and the General Theory of
Employment, Interest and Money David Felix ... Office time, he used his
practical experience there in his early writings, including his first published
book, Indian Currency and Finance (1913).
Brave New World Economy: Global Finance Threatens Our Future
Wilhelm Hankel, Robert Isaak 2011 Brave New World Economy points
the way; the rest is up to us.
Breve tratado sobre la reforma monetaria. John Maynard Keynes 1992
Conjunto de estudios clásicos que Keynes sustenta en ejemplos del proceso
productivo de Estados Unidos, Gran Bretaña y otros países de Europa.
Collected Writings: Indian Currency and Finance Τόμος 1. John
Maynard Keynes 1985
Darwinism and Evolutionary Economics Σελίδα 63. John Laurent, John
Nightingale 2001 But did Marshall's most famous pupil, John Maynard
Keynes, adopt his teacher's methodology in this respect, and if so, ... In his
first book, Indian Currency and Finance, for instance, Keynes refers to
the 'economic organism' (Keynes, 1913, p.
Das Ende Des Laissezfaire: Ideen Zur Verbindung Von Privat ...John
Maynard Keynes 2011 Hauptbeschreibung Zehn Jahre vor dem
Erscheinen seiner General Theory hat John Maynard Keynes 1926 eine
kleine Schrift mit dem Titel The End of Laissez-faire vorgelegt, die noch
im gleichen Jahr unter dem Titel Das Ende des Laissez-Faire.
Economic History Τεύχη 9-15 1934
Economic Possibilities for Our Grandchildren. John Maynard Keynes
1987 Keynes and India: A Study in Economics and Biography
Eine Einführung in die Geschichte des ökonomischen ...Hans Werner
Holub 2012 Paul Strathern stellt fest: „Trotz seines sagenhaften
Arbeitspensums, das er sein Leben lang beibehielt, fand Keynes noch Zeit,
sich zu amüsieren. ... EINIGE WERKE VON KEYNES „Recent
Economic Events in India“ (1909); „Indian Currency and Finance“
(1913); ... 1926); 66 John Maynard Keynes Einige Werke von Keynes.
208
Both John Maynard Keynes and Nicholas Kaldor believed in ... of Keynes
and Kaldor included analysis of the macroeconomics of growth, the nature
and implications of financial ... The first phase lasted from his entry into
the India Office until the time he was defending his Economic
Consequences of ... the bankers who hankered after the pre-war (gold)
parities of the major currencies, especially sterling (Keynes 1919).
Royal Commission on Indian Currency & Finance 1913 1914, ...1993
Royal Commission on Indian Currency & Finance 1913 1914, ...1993
Russian Currency and Finance: A Currency Board Approach to ...Steve H.
Hanke, Lars Jonung, Kurt Schuler 2005
Teoría general de la ocupación, el interés y el dinero John Maynard
Keynes 2003 La Teoría general de lord Keynes ha adquirido un lugar tan
destacado en la literatura económica de nuestros días que es difícil
encontrar un libro o artículo sobre economía donde no se cite.
The Age of Stagnation: Why Perpetual Growth is ...Satyajit Das 2016
Written for the lay reader and peppered with witty anecdotes, this
immensely readable book clearly explains the missteps that created the
current dilemma, why a recovery has proved elusive, and the difficult
remedies that must eventually be ...
The Ascent of Money: A Financial History of the World Niall Ferguson
2008 Why buy insurance or real estate? And what exactly does a hedge
fund do? This is history for the present. Ferguson travels to post-Katrina
New Orleans to ask why the free market can’t provide adequate protection
against catastrophe.
The Collected Writings of John Maynard Keynes Τόμος 14. Donald
Moggridge 1973
The Collected Writings of John Maynard Keynes. 1989 A Revision of
the Treaty; Being a Sequel to the Economic ...
The Collected Writings of John Maynard Keynes: Indian ...1971
The Collected Writings of John Maynard Keynes: Indian ...John
Maynard Keynes, Royal Economic Society (Great Britain)
The Collected Writings of John Maynard Keynes: Volume 14, ...John
Maynard Keynes, Elizabeth Johnson, Donald Moggridge 1987 This
volume, together with volumes 13 and 29, provides an insight into the
development of Keynes's thinking in the monetary field from the time of
213
the Tract in 1923 to the Treatise in 1930, onward to The General Theory
in 1936, and after ...
The Collected Writings: Indian Currency and Finance. ...1971
The Economic Consequences of Peace John Maynard Keynes 2014 The
success of the book established Keynes' reputation as a leading economist.
When Keynes was a key player in establishing the Bretton Woods system
in 1944, he remembered the lessons from Versailles as well as the Great
Depression.
The Economic Consequences of the Peace John Maynard Keynes 1920
The New Economics: Keynes and the Chaos of the Economic ...John
Maynard Keynes, Anatol Murad 1985
The Political and Economic Thought of the Young Keynes: ...Carlo
Cristiano 2014 Abandoning the stereotyped image of Keynes in his early
years, so often described as a young connoisseur interested in philosophy
and with little inclination for politics, this book sees his perfect fusion of
political vision and economic ...
The Works and Correspondence of David Ricardo: Volume 11, ...David
Ricardo, Piero Sraffa 1973 The last volume of this collection is a
comprehensive index to the previous ten volumes of "The Works and
Correspondence of David Ricardo.
The World's Monetary System: Toward Stability and ... Τόμος 4 Jo Marie
Griesgraber, Bernhard G. Gunter 1996 An insidera (TM)s view of a
parliamenta (TM)s role in approving and overseeing government spending.
Treatise on Money, V1: The Pure Theory of Money John Maynard
Keynes 2013 This is a new release of the original 1930 edition.
Unemployment as a World Problem: Lectures on the Harris ...Quincy
Wright, John Maynard Keynes, Karl Pribram 2012
What Economists Do: A Journey through the History of ... Σελίδα 146
Attiat F. Ott, With Sheila Vegari 2013 ... Collected Scientific Papers,
Samuelson took on the task of evaluating the man and his theory, John
Maynard Keynes, ... Keynes's other contributions (such as The Indian
Currency and Finance and The Economic Consequences of Peace).
John Maynard Keynes 2006 I argued that much of it was impossible; but
I do not agree with many critics, who held that, for this very reason, it was
also harmless. -from "The State of Opinion" Almost immediately after its
ratification, it became clear that the ...
The Collected Writings of John Maynard Keynes: A revision ...John
Maynard Keynes, Royal Economic Society (Great Britain) 1971
The Collected Writings of John Maynard Keynes: A revision ...1971
John Maynard Keynes: Critical Responses Τόμος 1 Σελίδα 275 Charles
Robert McCann 1998 •Source: The New Republic, vol. XXX, no. 378 (1
215
March 1922), pp. 24-25 [joint review]. A Revision of the Treaty by JOHN
MAYNARD KEYNES. New York: Harcourt, Brace & Company. $2.00.
What Next in Europe? by FRANK A. VANDERLIP.
A Revision of the Treaty: Being a Sequel to The Economic ...John
Maynard Keynes, Royal Economic Society 1971 This definitive edition
contains all Keynes's published writings, including less accessible articles
and letters to the press, as well as previously unpublished speeches,
government memoranda and minutes, drafts and economic
correspondence.
A Revision of the Treaty; Being a Sequel to the Economic ...John
Maynard Keynes 2013 This historic book may have numerous typos and
missing text. Purchasers can usually download a free scanned copy of the
original book (without typos) from the publisher. Not indexed. Not
illustrated. 1922 edition. Excerpt: .
The Policy Consequences of John Maynard Keynes Σελίδα 116 Harold
L. Wattel 1985 From World War I Through World War II John Maynard
Keynes had a special relation with Germany dating from his participation
... he wrote The Economic Consequences of the Peace (1919) and two years
later A Revision of the Treaty (1922).
Policy Consequences of John Maynard Keynes Σελίδα 116 Harold L.
Wattel 1986 In June 1919 Keynes resigned from the British delegation and
returned to Cambridge University, where he wrote The Economic
Consequences of the Peace (1919) and two years later A Revision of the
Treaty (1922). These experiences ...
The collected writings of John Maynard Keynes Τόμος 5 John Maynard
Keynes, Royal Economic Society (Great Britain) 1971
A Revision of the Treaty, Being a Sequel to the Economic ...John
Maynard Keynes 2015 This work has been selected by scholars as being
culturally important, and is part of the knowledge base of civilization as
we know it.
John Maynard Keynes Σελίδα 284 Vincent Barnett 2013 XIX, p.318.
Harrod, The Life ofJohn Maynard Keynes, p.349. Skidelsky,John
Maynard Keynes: The Economist as Saviour 1920–37, p.184. ... J.M.
Keynes, A Revision of the Treaty (London: Macmillan, 1922), list of
advertisements, p.5.
216
Consequences of the Peace (1920), although we can still read that and its
sequel A Revision of the Treaty (1921) with profit today.
Liberalism and War: The Victors and the Vanquished Σελίδα 70 Andrew
J. Williams 2006 If the Treaty of Versailles of 1919 that ended the First
World War has come in for general opprobrium the reparations clauses
have received far worse. ... be the impression one gets in reading accounts
of such classic anti-reparations texts as John Maynard Keynes' Economic
Consequences of the Peace (1920), although we can still read that and its
sequel A Revision of the Treaty (1921) with profit today.
Monetary Policy and Politics: Rules Versus Discretion Σελίδα 122 George
Macesich 1992 The fact is that statesmen of widely divergent views
between the wars distrusted Keynes, notwithstanding his brilliance and
creativity. See The Collected Writings of John Maynard Keynes, Vol. 17,
Activities 1920-1922: Treaty Revision and ...
Essays on John Maynard Keynes. Milo Keynes 1975 The book is a
biography by many authors.Access to History: War and Peace:
International Relations ...David Williamson 2009 The peace treaties of
1919–20 were seen by some contemporaries as a triumph of democracy,
the rule of law, selfdetermination and collective security ... Key figure
John Maynard Keynes (1883–1946) A British economist and civil servant.
A Companion to Woodrow Wilson. Ross A. Kennedy 2013 (Keynes
1920: 38-40, 50) The author of this most devastating verdict about
Woodrow Wilson as one of the peacemakers at Paris in 1919 was John
Maynard Keynes, the later famous economist, who had represented the
British treasury at the Paris Peace Conference. He wrote his condemnation
of the Versailles Treaty a few months after its signing. ... Keynes's verdict
proved to be a godsend to the Berlin government in assisting it in its efforts
to discredit and to revise the Versailles ...
A Revision of the Treaty: being a sequel to the economic ...1971 Social
Work Values and Ethics Σελίδα 259. Frederic G. Reamer 2013 Federal
Trade Commission (FTC): NASW consent agreement with, 50; “restraint
of trade” in NASW by, 50 FERPA. ... 33–34 Kagle, Jill, 120, 200 Kant,
Immanuel, 70, 173 Keith-Lucas, Alan, 19–20 Kennedy Institute of Ethics,
7 Keynes, John Maynard, 158 Kirk, Stuart, ... (1979), 50 NASW Code of
Ethics (2008), 52–66 NASW Code of Ethics Revision Committee, 27–28,
52–53 NASW Occupational index 259.
218
ΕΥΡΕΤΗΡΙΟ
Adam Smith, 11, 28, 32, 34, 47, 48, 68, American, 35, 43, 45, 47, 50, 62, 68, 69,
82, 102, 187 75, 77, 96, 108, 109, 113, 115, 118, 121,
Alexander Roy, 104 122, 125, 155, 161, 216
Alfred Marshall, 34, 37, 38, 41 Bibliography, 163, 175
Amartya Sen, 34
219
Biography, 63, 65, 66, 75, 79, 82, 86, 98, 121, 127, 167, 182, 185, 186, 198, 199,
115, 182, 184, 186, 194, 195, 199, 203, 202, 215
207, 208 Employment, 5, 15, 18, 20, 29, 44, 63, 79,
Britain, 36, 37, 38, 39, 42, 43, 47, 50, 60, 83, 97, 104, 105, 108, 113, 122, 139,
64, 67, 68, 75, 76, 77, 78, 85, 86, 87, 94, 157, 170, 171, 173, 187, 191, 192, 194,
96, 99, 103, 107, 109, 110, 123, 126, 197, 199, 202, 204, 207, 208, 213
181, 188, 193, 201, 206, 209, 212, 214, Encyclopedia, 29, 109, 113, 141, 155, 169,
215 183
British Government, 38, 43, 49 Finance, 38, 62, 66, 69, 83, 88, 91, 99,
Cambridge, 8, 14, 15, 19, 20, 21, 22, 27, 114, 115, 122, 158, 167, 183, 185, 186,
28, 30, 32, 33, 34, 36, 37, 55, 58, 60, 61, 190, 196, 198, 205, 206, 207, 208, 209,
66, 73, 74, 75, 76, 77, 81, 85, 89, 95, 96, 210, 211, 212, 213, 214
97, 103, 110, 113, 127, 141, 146, 155, Financial System, 108
156, 160, 167, 168, 170, 171, 183, 187, Financial Times, 51, 52, 64, 69, 71
194, 196, 199, 201, 208, 209, 210, 211, France, 39, 78, 162, 180, 181, 209, 216,
215, 218 218
Cambridge University Press, 30, 32, 33, Friedman, 16, 17, 24, 35, 48, 49, 50, 51,
75, 77, 211 56, 69, 73, 87, 91, 98, 99, 105, 117, 120,
Capital, 20, 69, 79, 80, 107, 110, 119, 121, 123, 127, 201
125, 130, 147, 149, 155, 157, 159, 169, Galbraith, 34, 47, 51, 69, 126, 165, 166,
190, 211 190, 205
Capital Structure, 107, 130 General theory, 1, 4, 5, 44, 45, 49, 56, 63,
Capitalism, 48, 65, 69, 89, 105, 111, 122, 78, 79, 83, 89, 91, 92, 93, 94, 95, 97, 98,
125, 127, 188 101, 102, 104, 105, 107, 108, 109, 112,
Collected Writings, 32, 68, 77, 96, 103, 117, 128, 173
182, 184, 185, 186, 188, 192, 194, 195, Geopolitics, 183
197, 198, 199, 201, 202, 203, 204, 205, George Akerlof, 26, 34, 51, 52, 53
207, 210, 212, 213, 214, 216, 217, 218 German Sozialstaat, 129
cycles, 35, 109, 122, 163, 175 Germany, 39, 40, 41, 43, 62, 66, 78, 117,
development theory, 97, 112, 170 181, 186, 188, 191, 209, 215, 216, 218
ECONOMETRIC, 172 Global, 63, 69, 70, 93, 98, 104, 105, 112,
economic analysis, 40, 121, 125, 158, 169, 115, 121, 122, 125, 126, 127, 128, 139,
170, 182 155, 158, 160, 162, 172, 183, 185, 186,
Economic Analysis, 15, 105, 164 188, 198, 207
Economic Consequences, 32, 39, 40, 41, Great Depression, 36, 42, 43, 47, 96, 102,
42, 57, 58, 62, 74, 76, 94, 103, 179, 180, 103, 110, 115, 190, 201, 213, 218
181, 182, 183, 184, 185, 186, 187, 188, Great War, 33, 41, 182, 188
189, 190, 191, 192, 197, 201, 205, 211, Harrod, 14, 19, 65, 76, 100, 144, 165, 204,
212, 213, 214, 215, 216, 217, 218 211, 213, 215
Economic Consequences of the Peace, Hayek, 11, 16, 21, 28, 49, 50, 54, 55, 69,
39, 40, 41, 57, 58, 62, 74, 94, 179, 180, 72, 77, 81, 87, 91, 101, 123, 138, 159,
181, 182, 183, 184, 185, 186, 187, 188, 172, 182, 194, 197
189, 190, 191, 192, 197, 201, 205, 211, History of Economic, 15, 88, 105, 115,
213, 215, 217 127, 202, 203
Economic crisis, 111 IMF, 47, 51, 52, 53, 64, 68, 71, 72, 110,
Economic Policy, 87, 93, 115, 118, 119, 130
122, 155, 160, 188 Influence, 67, 73, 106, 188, 191, 206
Economic Principles, 74 influence of economists', 128
Economic Theories, 80, 103, 182 Interest, 5, 44, 63, 79, 83, 91, 94, 97, 104,
Economist, 36, 51, 56, 64, 65, 66, 67, 72, 105, 108, 116, 139, 170, 171, 173, 187,
73, 75, 76, 77, 84, 89, 93, 94, 98, 118,
220
191, 192, 194, 197, 199, 202, 204, 207, 160, 161, 162, 163, 164, 165, 166, 167,
208, 213 168, 169, 170, 171, 172, 173, 174, 175,
International Economics, 158 176, 177, 178, 179, 191, 195, 200, 206,
John Hicks, 34, 48, 112, 177 211
John Maynard Keynes, 1, 4, 8, 9, 11, 12, Keynesian activism, 50
14, 26, 28, 29, 31, 32, 33, 34, 35, 36, 59, Keynesian Economics, 10, 31, 34, 35, 48,
64, 65, 66, 67, 68, 69, 70, 71, 72, 73, 74, 49, 50, 51, 119, 155, 156, 157, 158, 159,
75, 76, 77, 78, 79, 80, 81, 82, 83, 84, 85, 160, 161, 164, 166, 168, 169, 170, 171,
86, 87, 88, 89, 90, 91, 93, 94, 95, 96, 98, 172, 173, 174, 175, 177
99, 100, 101, 102, 103, 104, 105, 106, Keynesian economists, 50, 178
108, 109, 113, 115,116, 117, 128, 134, Keynesian principles, 50
139, 150, 163, 164, 171, 173, 176, 179, Keynesian theorists, 159, 160
180, 181, 182, 183, 184, 185, 186, 187, Keynesianische, 9, 10, 12, 21, 22, 26, 132,
188, 189, 190, 191, 192, 193, 194, 195, 133, 134, 135, 139, 140, 143, 144, 145,
196, 197, 198, 199, 200, 201, 202, 203, 146, 148, 149, 150, 151
204, 205, 206, 207, 208, 209, 210, 211, Keynesianische Revolution, 12, 133
212, 213, 214, 215, 216, 217, 218 Keynesianischen, 8, 9, 10, 14, 17, 20, 23,
Joseph Schumpter, 73 24, 25, 130, 132, 142, 143, 147, 153
Joseph Stiglitz, 26, 34, 51, 53 Keynesianism, 8, 29, 30, 49, 56, 87, 93,
Kaldor, 11, 21, 34, 144, 160, 211 97, 107, 108, 109, 110, 111, 112, 113,
Kaldorian Economics, 170 114, 115, 116, 117, 118, 119, 120, 121,
Keynes, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 122, 123, 124, 125, 126, 127, 128, 129,
18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 130, 157, 159, 162, 168, 170, 198, 200
29, 30, 32, 33, 34, 35, 36, 37, 38, 39, 40, Keynesianismus, 8, 9, 13, 21, 23, 24, 27,
41, 42, 43, 44, 45, 46, 47, 48, 49, 51, 52, 28, 29, 31, 130, 131, 132, 133, 134, 135,
53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 136, 137, 138, 139, 140, 141, 142, 143,
64, 65, 66, 67, 68, 69, 70, 71, 72, 73, 74, 144, 145, 146, 149
75, 76, 77, 78, 79, 80, 81, 82, 83, 84, 85, Keynes's, 35, 36, 37, 38, 39, 40, 41, 42,
86, 87, 88, 89, 90, 91, 92, 93, 94, 95, 96, 43, 44, 45, 47, 48, 50, 52, 53, 54, 56, 57,
97, 98, 99, 100, 101, 102, 103, 104, 105, 58, 59, 60, 62, 65, 81, 86, 88, 89, 93, 97,
106, 107, 108, 109, 111, 112, 115, 117, 101, 104, 105, 109, 119, 127, 157, 170,
118, 119, 120, 121, 122, 123, 124, 125, 184, 198, 199, 217
126, 127, 128, 129, 130, 131, 132, 134, Lexikon, 144, 145, 148, 149
135, 137, 139, 141, 142, 143, 144, 145, Liberalism., 68, 77, 116, 125
146, 147, 148, 149, 151, 152, 154, 156, Lloyd George, 38, 39, 61, 79, 90, 179
157, 158, 159, 160, 161, 162, 163, 164, Macrodynamic Economics, 170
165, 166, 167, 168, 170, 171, 172, 173, Macroeconomic, 56, 83, 111, 119, 149,
175, 176, 177, 178, 179, 180, 181, 182, 155, 156, 158, 160, 163, 169, 173
183, 184, 185, 186, 187, 188, 189, 190, Major Economicts, 29
191, 192, 193, 194, 195, 196, 197, 198, Marx, 12, 20, 28, 32, 66, 83, 97, 102, 104,
199, 200, 201, 202, 203, 204, 205, 206, 140, 142, 187, 190
207, 208, 209, 210, 211, 212, 213, 214, Marxist, 55, 119, 125, 157
215, 216, 217, 218 monetären, 31, 131, 134, 149, 150
Keynesian, 8, 9, 10, 20, 22, 27, 28, 29, 30, monetarism, 50, 114, 117, 118, 119, 120,
31, 32, 34, 35, 43, 45, 47, 48, 49, 51, 52, 123, 126, 160, 163
53, 55, 56, 67, 68, 69, 70, 79, 80, 81, 83, Monetarism, 50, 51, 69, 89, 92, 93, 114,
84, 88, 89, 92, 93, 95, 97, 98, 100, 101, 117, 118, 119, 120, 174
104, 108, 109, 110, 111, 112, 113, 114, Monetary, 17, 30, 34, 42, 45, 46, 47, 49,
115, 116, 117, 118, 119, 120, 121, 122, 52, 56, 63, 66, 67, 69, 71, 72, 75, 77, 78,
123, 124, 125, 126, 127, 128, 129, 130, 87, 88, 91, 95, 101, 120, 122, 125, 145,
137, 147, 154, 155, 156, 157, 158, 159,
221
161, 163, 170, 176, 193, 198, 202, 205, Sozialdemokratie, 137, 139, 148
209, 210, 211, 214, 217 Story of Economic, 183, 208
Monetary History, 17, 49 Thatcherism, 123
Money, 1, 4, 5, 11, 12, 19, 27, 30, 31, 32, Theory, 14, 15, 16, 17, 18, 19, 20, 22, 24,
33, 35, 42, 44, 46, 47, 55, 59, 63, 64, 66, 26, 28, 29, 30, 67, 72, 73, 77, 79, 80, 93,
68, 72, 78, 79, 80, 82, 83, 87, 88, 89, 91, 95, 97, 98, 102, 106, 111, 113, 114, 115,
92, 93, 95, 97, 99, 101, 104, 105, 106, 118, 120, 134, 139, 142, 148, 149, 151,
107, 108, 111, 120, 130, 139, 149, 156, 155, 156, 160, 163, 164, 165, 166, 167,
159, 161, 162, 163, 167, 170, 171, 173, 168, 169, 170, 171, 172, 173, 175, 176,
174, 176,180, 187, 191, 192, 193, 194, 177, 178, 187, 191, 192, 194, 197, 198,
197, 198, 199, 202, 203, 204, 206, 207, 199, 200, 202, 204, 207, 208, 211, 213,
208, 211, 212, 213, 214 214
neoklassisch, 23, 152 Thomas Piketty, 34
Neo-liberalism, 110, 116, 129, 155 Tobin, 9, 21, 22, 27, 31, 34, 125, 127, 128
Neo-Ricardian, 96, 111 Treatise on Probability', 198, 200
Neo-Schumpeterian, 123 unemployment, 32, 33, 35, 42, 43, 44, 47,
NeuKeynesianismus, 10, 26 48, 50, 98, 109, 111, 114, 116, 122, 127,
Nobel Prize, 36 130, 170, 178, 180, 189, 206
Open Economy, 92, 106, 121 United States, 17, 35, 43, 47, 49, 53, 55,
Paul Krugman, 34, 51, 52, 53, 104, 129, 62, 77, 90, 103, 109, 115, 122, 124, 170,
202, 213 181, 189
Political Economy, 69, 73, 76, 93, 101, Varoufakis, 34
107, 117, 119, 121, 122, 125, 142, 154, Walrasian general, 78
159, 162, 174, 186, 198, 205, 209 War, 35, 37, 38, 41, 42, 45, 46, 47, 49, 51,
postKeynesianische, 8, 145, 151 55, 60, 62, 63, 66, 67, 68, 71, 76, 81, 89,
PostKeynesianismus, 10, 11, 23, 140, 94, 95, 102, 108, 110, 116, 121, 124,
141, 142, 143, 144, 145, 146, 147, 148, 127, 128, 129, 180, 181, 182, 183, 184,
149, 150, 151, 152, 153, 154 185, 186, 187, 188, 189, 191, 205, 211,
Post-Keynesians, 19, 27, 109, 159, 161, 215, 216, 217
167, 178 Wealth, 49, 203
Risk, 147, 171, 194, 202 World Bank, 45, 46, 47, 51, 52, 68, 130
Robert Solow, 21, 23, 27, 34, 123 απασχόλησης, 4, 6
Robinson, 8, 10, 14, 15, 19, 20, 27, 29, 30, Γενική Θεωρία της Απασχόλησης του
31, 34, 97, 144, 147, 153, 164, 166, 187, Τόκου και του Χρήματος, 4
196 Ένγκελς, 7
Roosevelt, 43, 63, 105, 183, 205 Κέινς, 5
Samuelson, 16, 21, 22, 23, 27, 34, 48, Κέυνς, 4, 5, 6
122, 214 κεϋνσιανό, 6
Schumpeter, 15, 16, 41, 56, 67, 73, 97, 104 Φρίντμαν, 4