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Published online by Cambridge University Press: 05 November 2012
On 30 May Keynes set sail for the United States. The major purpose of his visit was to give lectures in Chicago on the Harris Foundation on the subject ‘An Economic Analysis of Unemployment’ (JMK, vol. XIII, pp. 343–67). In addition to giving his three lectures on that subject and taking part in other discussion groups, he introduced a discussion on the subject ‘Is it Possible for Governments and Central Banks to Do Anything on Purpose to Remedy Unemployment?’ on 1 July.
From Unemployment as a World Problem: Reports of Round Tables (1931), volume II.
HARRIS FOUNDATION INSTITUTE ROUND TABLES
1 July 1931, 7.30 p.m.
Is it Possible for Governments and Central Banks to Do Anything on Purpose to Remedy Unemployment?
John Maynard Keynes, Discussion Leader
Government Action
(a) Public works: difficulties and objections practical rather than theoretical
(b) Special financing and purchasing bodies
(c) Measures to assist business confidence and business profits: e.g., relief from taxation, concession of high rates to railroads
(d) Measures to relieve unbalanced international situation Central Bank Action
(a) Cheap money—discount rate and buying rate for Acceptances acceptances
(b) Enlarging basis of credit—purchases of governments, contrasts between American and British conditions, difficulties of American technique
(c) Promoting confidence in duration of cheap money
(d) Persuading member banks and savings banks to reduce rate of interest allowed on deposits
(e) Participation in international schemes designed to remedy international loan position
[…]
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