Word: keynesism
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Keynes was posted to the India Office, but the civil service proved deadly dull, and he soon left. He lectured at Cambridge, edited an influential journal, socialized with his Bloomsbury friends, surrounded himself with artists and writers and led an altogether dilettantish life until Archduke Francis Ferdinand of Austria was...
His first brush with fame came soon after the war, when he was selected to be a delegate to the Paris Peace Conference of 1918-19. The young Keynes held his tongue as Woodrow Wilson, David Lloyd George and Georges Clemenceau imposed vindictive war reparations on Germany. But he let...
The Germans, he wrote acerbically, could not possibly pay what the victors were demanding. Calling Wilson a "blind, deaf Don Quixote" and Clemenceau a xenophobe with "one illusion--France, and one disillusion--mankind" (and only at the last moment scratching the purple prose he had reserved for Lloyd George: "this...
His little book sold 84,000 copies, caused a huge stir and made Keynes an instant celebrity. But its real import was to be felt decades later, after the end of World War II. Instead of repeating the mistake made almost three decades before, the U.S. and Britain bore in...
Yet Keynes' largest influence came from a convoluted, badly organized and in places nearly incomprehensible tome published in 1936, during the depths of the Great Depression. It was called The General Theory of Employment, Interest and Money.