I am reading The General Theory of Employment, Interest and Money of John Maynard Keynes. The intro is really good and give you a good glimpse of Keynes’ life. The book itself is quite hard for me to digest. It is not my field but I am courius about Economics/Finance. One day, I would like to understand how money really works…. I think I bought the book after references from other books from Yanis Varoufakis.
Things I have learned he was against the Treaty of Versailles as the conditions over Germany were too abusive and that could cause an economic disaster for future generations. Well, you have created the easiest scenario for a crazy guy to play with the feelings of a proud nation to raise and get back what it was theirs…. Yeah, very simplify, but it works in my head. He wrote about it in “Consequences of the Peace”.
I think we have seen similar scenarios (without war involved thanks x (x = choose your god’s religion)) with Greece and Argentina.
Then after WWII, he helped to create the “International Monetary Fund” and “World Bank”. And attended Bretton Woods Conference. One of the important points of that conference was the fix rate gold/dollar and the lack of banking crisis as a consequence of this agreement. As well, I think the book from “The Signal and the Noise” says that during this conference, the American president couldnt understand Keynes ideas as he couldnt explain them easily. That conference is important because when the deal was cancelled in 1971 it caused some interesting economic shocks (books from Varoufakis are good) as countries couldn’t change dollar/gold as before and the banking crisis started to roll.
As per my understaning, Keynes believed that economic balance (mainly low unemployment) was the basic of a peaceful world. If you have most of your needs satisfied, I dont think you will pick your rifle whenever a lunatic tells you to do so.
As well, he was pro-European…. look now, we are in Brexit times…
…look now… it seems unemployment is going to skyrocket all around the world…. and we have too many dumb presidents in too powerful countries…. look now… how far right has been gathering support in the last years….
All the ingredientes for the cocktel of W..