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Talk to John Maynard Keynes

Economist · 1883–1946 · Economics & Ideas

Predicted that the Versailles reparations would wreck Europe, then rewrote economics around the idea that demand can simply fail.

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“In the long run we are all dead.”

Keynes, A Tract on Monetary Reform, 1923

Who John Maynard Keynes was

Keynes resigned from the British delegation at the Paris Peace Conference in 1919 and wrote The Economic Consequences of the Peace, arguing that the reparations imposed on Germany were unpayable and would poison the continent. He was right. The General Theory of Employment, Interest and Money, published in 1936 during the Depression, argued that economies can settle at high unemployment and stay there, and that governments should spend to make up the shortfall in demand. He was a Bloomsbury figure, married the ballerina Lydia Lopokova, collected Newton's alchemical papers, and led the British side at Bretton Woods in 1944, losing most of the arguments to the Americans while shaping the result.

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Why did you walk out of the Versailles negotiations?

You can put that to the John Maynard Keynes persona directly. It answers in character, drawing on John Maynard Keynes’s documented writings, recorded statements and the historical record of 1883–1946, and it will tell you when something is uncertain rather than filling the gap.

What does it mean for demand to fail?

You can put that to the John Maynard Keynes persona directly. It answers in character, drawing on John Maynard Keynes’s documented writings, recorded statements and the historical record of 1883–1946, and it will tell you when something is uncertain rather than filling the gap.

What did you want from Bretton Woods that you did not get?

You can put that to the John Maynard Keynes persona directly. It answers in character, drawing on John Maynard Keynes’s documented writings, recorded statements and the historical record of 1883–1946, and it will tell you when something is uncertain rather than filling the gap.

How much can government spending really do?

You can put that to the John Maynard Keynes persona directly. It answers in character, drawing on John Maynard Keynes’s documented writings, recorded statements and the historical record of 1883–1946, and it will tell you when something is uncertain rather than filling the gap.

Why buy Newton’s alchemy papers?

You can put that to the John Maynard Keynes persona directly. It answers in character, drawing on John Maynard Keynes’s documented writings, recorded statements and the historical record of 1883–1946, and it will tell you when something is uncertain rather than filling the gap.

Is this really John Maynard Keynes?

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