John maynard keynes

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John Maynard Keynes

John Maynard Keynes was born in Cambridge on June 5, 1883, in a very intellectual family of the time. His father, John Neville Keynes, was a professor of political economy and logic of University of Cambridge, who also came to occupy a top management position in the same institution. His mother, the daughter of a minister, was one of the first women to attend thisuniversity.

“The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe they to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist.” John Maynard Keynes.

Because of his intelligence and knowledgefrom his parents, he was accepted at Eton College, where showed, among others, his talent for mathematics. From Eton went to King's College in Cambridge, where he obtained his diploma in 1905. It was considered the most brilliant student of Alfred Marshall and AC Pigou, the two most notable Cambridge economists. Influenced by Alfred Marshall his interest in mathematics has decreased and economicsand politics has increased.

In 1906, he got the second place in a competition for the recruitment of Civil Servants (Body of Senior Officials of the Empire), although, ironically, from a mediocre note in economics. He was then placed in the Indian Office (Ministry of Indies), in Whitehall, where he worked until 1908.

A restructuring of the Department of Economy of Cambridge led him toresign from his post and return to Cambridge to be a teacher until 1915. He was part of King's College until the end of his life.

Author of many articles in various publications, Keynes was a Director of Economic Journal in 1911, and secretary of the Royal Economic Society.

From his experience in the Indian Office he published in 1913, Indian Currency and Finance (Indian’s Money and Finance)which among other things he criticized the international monetary system and gold standard as a base.

In 1915, finally they offered Keynes a place in the British Treasury (UK Treasury). He was part of the British delegates to the Peace Conference of Paris, but in 1919, he resign his position for disagreeing with the agreement made with Germany, returning to England. In this agreement thecountries that loose the war were forced to pay war reparations, which Keynes thought inductive, immoral and impractical. He thought this agreement would create very serious problems for the German economy, which would lead to the repudiation in Germany and the rearmament in Europe. The story would come to give him a reason.

In the fall of the same year Keynes published the Economy Consequences of thePeace – a book which Keynes developed his opinions about this agreement and became internationally known.

His positions force his removal of the British official circles.

He returned to Cambridge where he taught, administered the finances of the university, "Concerned with acquiring the independence that gives Fortune" enriched with the currency speculation, military in the Liberal Party,has written several articles and books including A Treatise on Probability in 1921, Tract on Monetary Reform in 1923 and A Treatise on Money in 1930.

In 1936 Keynes published his most important theoretical book The General Theory of
Employment, Interest and Money, who came to start the so-called "Keynesian Revolution".
In 1937 he suffered a severe heart attack and even not fully recovered he’sback to the government as one of the directors of the Bank of England, and considered by many as the "official economist of Britain."

In 1942 he received the title of Baron of Tilton and during the Second World War John Maynard Keynes was the main architect of economic policy in Britain, later played an important role as
UK representative on the Bretton Woods Conference (April-June 1944)...