By Peter Clarke
ISBN-10: 1608190234
ISBN-13: 9781608190232
The tips of John Maynard Keynes encouraged the recent Deal and helped rebuild international economies after global warfare II —and have been later brushed off as “depression economics.” Then got here the nice meltdown of 2008. industry forces that the realm trusted by surprise did not self-correct—and Keynes’s doctrine of corrective motion in a less than excellent global grew to become extra proper than ever. Keynes was once now not a standard economist: He used to be a polemicist, iconoclastic public highbrow, peer of the area, and political operative, in addition to an overtly gay Bohemian who befriended Virginia Woolf and E. M. Forster. In Keynes, famous historian Peter Clarke offers a well timed and masterful accounting of Keynes’s lifestyles and paintings, bringing his genius and skepticism alive for an period fraught with financial problems that he absolutely may have relished fixing.
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Additional info for Keynes: the rise, fall, and return of the 20th century's most influential economist
Example text
It is an assessment that necessarily has to be made in advance, weighing one probability against another, without any absolute assurance as to the outcome. So this is a probabilistic view of ethics, judging actions by likely consequences. Keynes argued that it made no sense to say that we must know for certain what the outcome will be before we are entitled to exercise our discretion. Whoever would have supposed otherwise? All the Apostles knew the answer to that question.
No. 46 Gordon Square, truly the hub of their Bloomsbury, was to remain his London home for the rest of his life. Bloomsbury, in this sense, began as a transplant. It transported to London much of the rebellious ethos of the Strachey–Stephen clique among the Apostles, while reinforcing its membership with similarly talented women, among whom Virginia Woolf became pre-eminent. Many of Keynes’s friends were homosexual, but few were misogynists. Many were active supporters of woman suffrage. Bloomsbury was justly accused of being a mutual admiration society.
S. economics, attracted just about as much ridicule as respect,’ reported Time magazine in 1969, at a time when Nixon was listening to the Chicago School, of which Friedman was now the acknowledged leader. ‘Keynesian economics doesn’t work,’ Friedman forthrightly commented. ’25 Keynes had voiced similar sentiments in his own day. And though Friedman had to endure Nixon’s apostasy in the early 1970s, signs that the monetarists were winning the argument were indisputable by the time that Friedman was awarded the Nobel Prize for Economics in 1976.
Keynes: the rise, fall, and return of the 20th century's most influential economist by Peter Clarke
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