Keynes: The Rise, Fall, and Return of the 20th Century's Most Influential Economist by Peter Clarke

Author:Peter Clarke
Language: eng
Format: mobi
Tags: Theory, Economics, General, Historical, Biography & Autobiography, Business & Economics
ISBN: 9781608190232
Publisher: Bloomsbury USA
Published: 2009-10-26T23:00:00+00:00

Such magic can be potent but ephemeral. The spell that is cast may not last very long, especially not outlast the death of the spellbinder. How much did Keynes’s influence owe to his own charismatic powers? How far might his own death be expected to diminish the influence of the ideas that he left behind? Alternatively, why has the influence of Keynes’s ideas so resiliently survived his own death, more than sixty years ago?

There are many places that one might look for answers. But one source is so compelling in its verisimilitude that it repays particularly close scrutiny, despite its chronologically limited scope. For we are lucky to have an almost verbatim record of Keynes expounding his current ideas for an intelligent lay audience, and doing so at a critical moment. This came about because, in the autumn of 1929, an official committee was set up by the minority Labour Government to report on finance and industry, with official stenographers transcribing every word over the course of more than twelve months. Here we can catch Keynes in motion, in action, and in earnest, seeking to persuade others of the validity of his analysis of deep-seated problems that stretched back into the 1920s and that looked ahead into the 1930s. We are surely justified in dwelling on this uniquely well-documented episode for what it can disclose more generally about the course of his thinking about economic policy.

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