Word: keyneses
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The basic problem, however, is that no one wants to suffer the pain that will be involved in any solution to the debt crisis. Banks are not eager to write off the bad loans and take the earnings loss, while governments in the developed countries are reluctant to halt economic...
The IMF was created in 1944 to keep order in the international monetary system. Its guiding genius, British Economist John Maynard Keynes, wanted it to be a true lender of last resort, a global central bank capable of creating its own money. His ideas were deemed too visionary, and the...
Reversing the field is an old Harvard trick: Schumpeter, one of Harvard's great economists of an earlier era, spent the entire semester using his considerable persuasive powers to extoll the merits of Lord Keynes. The final exam consisted of one question. Criticize the theories of John Maynard Keynes.
In discussing Keynes' impact on the world economy from the Versailles peace conference after World War I to the monetary system set up toward the end of World War II, Hession dwells on Keynes' sexual proclivities. Born in 1883, Keynes was the first and favored child of an...
As part of London's bohemian Bloomsbury group, Keynes dined with such luminaries as Novelists Virginia Woolf and E.M. Forster. Those gatherings sharpened his Renaissance restlessness. For most of his life Keynes was simultaneously a don, a diplomat and a highly successful currency speculator. As his stature grew, his...