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A brilliant child, he wrestled with the economic meaning of interest before he was 5 years old. He excelled both as a student and as a member of the debating team at Eton. Pigou, and even Alfred Marshall begged him to become a professional economist.
He was elected president of the Union, the most important nongovernmental debating society in the world, and his close friends included the intellectual members of the Bloomsbury group. Keynes was described as a phenomenonand all of this took place before he graduated from Cambridge.
After graduating inKeynes took a civil service post in India. Bored with his job, he resigned and returned to Cambridge to teach. In he assumed the Essays in persuasion ebook of the Economic Journal, the leading journal in Britain at the time, continuing in the post for 33 years.
His first major book, Indian Currency and Financewas an immediate success.
He took part in the Paris Peace Conference as a representative of the Treasury. Later he held several other government advisory posts, served as a director of the Bank of England, and was president of an insurance company. In addition, Keynes was a noted patron of the arts and married the most beautiful and popular ballerina of his era.
At the Paris Peace Conference, Keynes became so dismayed by the harsh terms imposed on Germany in the Treaty of Versailles that he resigned in anger several days before the treaty was signed.
He then wrote The Economic Consequences of the Peacewhich outlined the folly of the treaty. Being a man of many interests, Keynes next took a brief break from economics to publish A Treatise on Probabilitywhich Bertrand Russell see Vols.
A Treatise on Moneywhich explored the business cycle, was followed by Essays in Persuasion and Essays in Biography According to Keynes, the economy could be thought of as being divided into consumer, investment or businessgovernment, and foreign sectors.
This was hardly a novel idea, but Keynes went on to postulate the exact nature of expenditures in each sector, especially the spending patterns of the consumer sector, which he portrayed by using a graph he called a "consumption function. The relationship specified in The General Theory were tantalizing to economists, because they could be tested and empirically verified.
Soon governments, including that of the United States, began to develop a set of national income accounts to provide estimates of gross national product and national income. The General Theory was also popular because it offered policy prescriptions to help deal with the problems of depression, recession, and unemployment.
Today the term "Keynesian" is used to describe individuals or policies that use taxation and government spending to affect aggregate economic performance.Essays in Persuasion has ratings and 15 reviews. Hadrian said: A series of thirty-odd essays on economics.
Topics range from the gold standard to how /5. A collection of scholarly works about individual liberty and free markets. A project of Liberty Fund, Inc. Facsimile PDF MB This is a facsimile or image-based PDF made from scans of the original book.
Kindle KB This is an E-book formatted for Amazon Kindle devices. EBook PDF KB This. The Online Writing Lab (OWL) at Purdue University houses writing resources and instructional material, and we provide these as a free service of the Writing Lab at Purdue. Essays in Persuasion - Kindle edition by John Maynard Keynes.
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