John Maynard Keynes Essay

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"that's stupid, why not pay people to build roads and schools"Keynes would respond saying "Fine, pay them to build schools.

The point is it doesn't matter what they do as long as the government is creating jobs".

During the complex negotiations, he found time to pick up some French masterpieces including a Cezanne, at knock down prices.

However, it was Versailles, which helped establish his reputation as an outstanding economist.

At the height of the crisis, the fledgling Labour government was told by Treasury officials that the government must balance the budget to survive the depression.

This effectively meant increasing taxes and cutting unemployment benefits.

He wanted to emphasise the importance of intervening in a recession. He wasn't just content to spend hours reading away in the British Library (like Karl Marx) he understood the importance of the soundbite and actually influencing the political process.

Written during the summer of 1919, few books did more to discredit the Treaty of Versailles, which formally ended four years of war between the victorious Allied powers and a defeated Germany.

Keynes became increasingly dismayed and alarmed at the vengeful and excessive terms of the treaty.

Eventually, he resigned writing a polemic, criticising the Treaty as a recipe for future German resentment.


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