Read John Maynard Keynes: Volume 2: The Economist as Savior, 1920-1937 by Robert Skidelsky Free Online
Book Title: John Maynard Keynes: Volume 2: The Economist as Savior, 1920-1937|
The author of the book: Robert Skidelsky
Date of issue: January 1st 1995
ISBN 13: 9780140238068
Format files: PDF
The size of the: 952 KB
Edition: Penguin Books
Read full description of the books John Maynard Keynes: Volume 2: The Economist as Savior, 1920-1937:Covers the economist from 1920 – 1937, a time in which Keynes cultivated ideas that would coalesce in his seminal 1936 publication The General Theory of Employment, Interest and Money. This book would stand as the bulwark of fiscal policy in the years to come. It provided then new and innovative ways for governments to fight against economic downturns. Keynes had to base his ideas on the principles of microeconomics (Keynes was a student of Marshall after all), but his approach was entirely new. He put an emphasis not on individual markets, but on the aggregate output of a nation’s economy. Keynes emphasized a new importance on the role of government spending to help aid employment and investment. He disproved the longstanding maxim of Say’s Law, or the notion that supply creates its own demand, and therefore, that unemployment was self-regulating.
Keynes argued that an economy in a state of disequilibrium does not necessarily automatically correct itself. The great depression reinforces this point. Keynes stressed the need for fiscal policy in helping to ease the sharpness of natural business cycles. Fiscal policy simply refers to the level of government expenditures in the form purchases of goods or services and a change in the level of taxes. Keynesian fiscal approaches would come to dominate post-depression economic thought, although it would take the largest war in history to prompt government to spend in the amounts Keynes’s endorsed; such spending increased productivity and technological output to unrealized heights. After the Second World War, Keynesian approaches would continue to dominate economic thought until the 1970s, at which point Milton Friedman would lead the libertarian charge that would become part of Reagan’s rhetoric (although not his actions).
Read information about the authorLord Skidelsky is Emeritus Professor of Political Economy at the University of Warwick. His three volume biography of the economist John Maynard Keynes (1983, 1992, 2000) received numerous prizes, including the Lionel Gelber Prize for International Relations and the Council on Foreign Relations Prize for International Relations. He is the author of the The World After Communism (1995) (American edition called The Road from Serfdom). He was made a life peer in 1991, and was elected Fellow of the British Academy in 1994. He is chairman of the Govenors of Brighton College
Robert Skidelsky was born on 25 April 1939 in Harbin, Manchuria. His parents were British subjects, but of Russian ancestry. His father worked for the family firm, L. S. Skidelsky, which leased the Mulin coalmine from the Chinese government. When war broke out between Britain and Japan in December 1941, he and his parents were interned first in Manchuria then Japan, but released in exchange for Japanese internees in England.
From 1953 to 1958, he was a boarder at Brighton College (of which he is now chairman of the board of governors). He went on to read history at Jesus College, Oxford, and from 1961 to 1969, he was successively research student, senior student, and research fellow at Nuffield College, Oxford. In 1967, he published his first book, Politicians and the Slump, Labour Government of 1929-31, based on his D.Phil dissertation. The book explores the ways in which British politicians handled the Great Depression.
During a two year research fellowship at the British Academy, he began work in his biography of Sir Oswald Mosley (published in 1975) and published English Progressive Schools (1969). In 1970, he became an Associate Professor at the School of Advanced International Studies, John Hopkins University. But the controversy surrounding the publication of his biography of Sir Oswald Mosley - in which he was felt to have let Mosley off too lightly - led John Hopkins University to refuse him tenure. Oxford University also proved unwilling to give him a permanent post.
In 1978, he was appointed Professor of International Studies at the University of Warwick, where he has since remained, though joining the Economics Department as Professor Political Economy in 1990. He is currently Andrew D. White Professor-at-Large at Cornell University.
The first volume of his biography of John Maynard Keynes, Hopes Betrayed, 1883-1920, was published in 1983. The second volume, The Economist as Saviour, 1920-1937 (1992) won the Wolfson Prize for History. The third volume, Fighting for Britain, 1937-1946 (2000) won the Duff Cooper Prize, the James Tait Black Memorial Prize for Biography, the Lionel Gelber Prize for International Relations and the Arthur Ross Council on Foreign Relations Prize for International Relations.
Since 2003, he has been a non-executive director of the mutual fund manager, Janus Capital and Rusnano Capital; from 2008-10 he sat on the board of Sistema JSC. He is a director of the Moscow School of Political Studies and was the founder and executive secretary of the UK/Russia Round Table. Since 2002, he has been chairman of the Centre for Global Studies. In 2010, he joined the Advisory Board of the Institute of New Economic Thinking.
He writes a monthly column for Project Syndicate, "Against the Current", which is syndicated in newspapers all over the world. His account of the current economic crisis, Keynes: The Return of the Master, was published by Penguin Allen Lane in September 2009. A short history of twentieth-century Britain was published by Random House in the volume A World by Itself: A History of the British Isles edited by Jonathan Clark in January 2010. He is now in the process of writing How Much is Enough? The Economics of the Good Life jointly with his son Edward Skidelsky.
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