Word: keynesism
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When John Maynard Keynes was five, his great-grandmother wrote to him, "You will be expected to be very clever, having lived always in Cambridge." The advice came late. Precocious Maynard, with the assistance of his father, a Cambridge don, had already begun collecting stamps and would soon go on...
During his dazzling years at Eton and Cambridge, nobody doubted that the very clever boy would build a very clever career. But at what? He was as interested in medieval Latin poetry and Peter Abelard as he was in math and the laws of probability. When he took the civil...
Even so, there was something of the perpetual schoolboy in the don during his 20s, and as Skidelsky observes, "No one in England gets far on brains alone." Keynes would not or could not be charming. As he bitterly appreciated, his lanky, uncoordinated body and equine face were not assets...
The unformed Keynes was no more at ease with himself than others were. His most serious homosexual attachment, to the painter Duncan Grant, caused him, in the end, profound confusion as well as pain. Furthermore, for all his Cambridge-debater disapproval of Christianity, he was, Skidelsky remarks, "close enough to...
It took World War I to bring Keynes to fulfillment. As an adviser in the Treasury, he began to develop Keynesian ideas--for example, that the "main use of gold reserves is to be used." The artist manque appeared. Keynes began to regard money the way a painter looks at...