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This volume, the second of six concerned with the Second World War, provides an account of Keynes's contributions to the solution of Britain's wartime external financial problems between 1940 and 1943. It focuses particularly on his involvement in discussions, both in Whitehall and in Washington, concerning the operation of the Lend Lease Agreement and the terms of post-war economic co-operation under Article VII of that agreement. However, it also includes records of his discussions with American economists on the finance of the American defence effort in 1941 and his growing concern with Britain's increasing problem of overseas indebtedness in the sterling area.
In this volume, the third of three concerned with Keynes's involvement in the problems of financing Britain's war effort after 1939, the concentration is on the final stages of lend lease and the negotiations with the United States for the transition to peacetime conditions and the 1945 loan to Britain.
This volume, a companion to Volume 17 and to many of the Essays in Persuasion (Volume 9), carries Keynes's involvement in the post-1919 reparations tangle down to the Lausanne Conference and Britain's subsequent effective default on her own war debts in June 1933 – almost fourteen years to the day after Keynes's own resignation from the Treasury over the original Peace Settlement effectively removed the issue from practical politics. The events it covers were dramatic – the German hyperinflation, the occupation of the Ruhr, the Dawes and Young Plans and the Hoover Moratorium. Throughout, Keynes attempted to shape opinion and the course of events through published articles, unsigned letters, contributions to The Nation and Athenaeum, speeches, letters, official committees and memoranda. These add an important dimension to our understanding of the history of the period.
A Treatise on Money, completed in 1930, was the outcome of six years of intensive work and argument with D. H. Robertson, R. G. Hawtrey and others. As in the Tract on Monetary Reform, the central concerns of the Treatise are the causes and consequences of changes in the value of money and the means of controlling such changes to increase well-being. The analysis is, however, considerably more complex and the applied statistical work much more elaborate. The Treatise has long been of interest amongst economists, as a precursor of the General Theory, as an important discussion of the mechanics of inflationary and deflationary processes and as an important statement of the problems of national autonomy in the international economy. This edition provides a new edition of the original, corrected on the basis of Keynes's correspondence with other economists and translators. It also provides the prefaces to foreign editions.
A Treatise on Money, completed in 1930, was the outcome of six years of intensive work and argument with D. H. Robertson, R. G. Hawtrey and others. As in the Tract on Monetary Reform, the central concerns of the Treatise are the causes and consequences of changes in the value of money and the means of controlling such changes to increase well-being. The analysis is, however, considerably more complex and the applied statistical work much more elaborate. The Treatise has long been of interest amongst economists, as a precursor of the General Theory, as an important discussion of the mechanics of inflationary and deflationary processes and as an important statement of the problems of national autonomy in the international economy. This edition provides a new edition of the original, corrected on the basis of Keynes's correspondence with other economists and translators. It also provides the prefaces to foreign editions.
This volume contains Keynes's academic articles and reviews on a number of subjects, as well as his previously unpublished 1909 Adam Smith Prize essay on index numbers. Amongst the subjects covered are India, statistics, World War I and its financing, money and international economics. Included are his papers on the transfer problem, supplemented by related correspondence with Bertil Ohlin.
Between the outbreak of war in 1939 and his death in 1946 Keynes was closely involved in the management of Britain's war economy and the planning of the post-war world. This volume, the first of several dealing with this period, focuses on two aspects of his activities during the war: his efforts as a private citizen to influence opinion of the tasks ahead prior to July 1940, and his contributions within the Treasury to Britain's internal financial management thereafter. It contains the correspondence and memoranda surrounding How to Pay for the War, perhaps his most successful essay in persuasion; the 1941 Budget, the first explicitly Keynesian Budget in Britain; the development of the associated national income estimates; and his later attempts to influence other areas of financial policy. This is a necessary companion to How to Pay for the War, which appears in Volume 9 of this series.
Most of the essays in this book were first collected together in October 1931, immediately after Britain had left the gold standard. They reflected Keynes's attempts over the previous dozen years to influence public opinion and policy over the Treaty of Versailles, over which he had resigned from the Treasury in June 1919, reparations and inter-allied war debts, stabilisation policy, the gold standard and the shape of liberal politics in Britain. In 1972 the essays were reprinted with the full texts of the pamphlets – Can Lloyd George Do It?, The Economic Consequences of Mr Churchill, A Short View of Russia and The End of Laissez Faire. At that time, the full texts of his two post-1931 pamphlets – The Means to Prosperity and How to Pay for the War – were added. The book contains examples of Keynes's finest writing on economic policy and politics. This edition includes an introduction by Donald Moggridge.
The Economic Consequences of the Peace was written by Maynard Keynes in 1919 following his resignation as Treasury representative at the Peace Conference at Versailles. It was this work that first made Maynard Keynes's name a household word, a figure of hatred and public criticism to some, a rallying point for rational thought and action to others. Written in the white heat of anger and despair, it vividly conveys to later generations Keynes's horror that clear thinking, human compassion and solemn pledges had been, in his eyes, destroyed by political opportunism.
This volume, containing papers written by Keynes, in the course of his various activities, is chiefly concerned with his work down to the outbreak of war in 1914 on problems of Indian currency and especially with the part that he played in influencing and shaping the report of the (Austen Chamberlain) Royal Commission on Indian Finance and Currency. The papers show the young Keynes (he was under 30 when appointed) with a complete mastery not only of the broad and academic principles but also, as throughout his life, of the details, holding his own in debate with the acknowledged authorities and securing his main objectives, thanks largely to his indefatigable capacity for quick yet elegant and lucid draftsmanship. This volume is a necessary companion to his own Indian Currency and Finance (Volume 1 in this series).