The end of laissez-faire: The economic consequences of the peace
John Maynard Keynes (1883-1946) was one of the most influential economists of the first half of the twentieth century. His theory of government stimulation of the economy through deficit spending influenced Franklin D. Roosevelt's "New Deal" administration and inspired his most famous work, General Theory of Employment, Interest and money (1935-36). In the End of Laissez-Faire (1926), Keynes presents a brief historical review of laissez-faire economic policy. Though he agrees in principle that the marketplace should be free of government interference, he suggests that government can play a constructive role in protecting individuals from the worst harms of capitalism's cycles, especially as concerns unemployment. When the Great Depression struck a few years later, this work seemed very prescient. Keynes first earned widespread prominence immediately following World War I, when he published The Economic Consequences of the Peace in 1919. This book gained a good deal of notoriety because of its withering portraits of both French premier Georges Clemenceau and U.S. President Woodrow Wilson. Keynes criticized the Allied victors for signing a treaty that would have ruinous consequences for Europe, if not modified as he suggested Unfortunately, few leaders appreciated Keynes's criticisms, and he saw his worst fears realized in the rise of Hitler and the devastation of World War II. Keynes's brilliant mind and lucid writing are evident on every page. Both of these works are still well worth reading for his profound knowledge of economics.
What people are saying - Write a review
We haven't found any reviews in the usual places.
Other editions - View all
Allied and Associated Allied Governments allowed Alsace-Lorraine amount Annex annual Armistice Article Associated Powers Austria Austria-Hungary Belgium believe British Bulgaria capacity to pay capital ceded cent claims Clemenceau coal cost countries currency damage debt demand economic economists effect enemy estimate Europe European excess exchange exports favour figure force foreign Fourteen Points France French future German Government German nationals Germany Germany's capacity gold hand imports increase indemnity individual industrial interest investments Italy John Maynard Keynes Keynes labour laissez-faire League of Nations less loans Lorraine loss material ment million natural nomic organisation Paris payment Peace Poland political population possible pre-war present Treaty President principle production provisions Q John reason Reichsbank Reparation Chapter Reparation Commission Russia Saar securities Serbia social substantial surplus surrender territory tion tons trade United Kingdom Upper Silesia wealth whole