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John Maynard Keynes #3
John Maynard Keynes: Fighting for Freedom, 1937-1946
The third and final volume in the author's definitive portrait of John Maynard Keynes chronicles his final years, from 1937 to his death in 1946, discussing Keynes's contribution to the funding of Britain's war effort, the construction of the postwar economic order, and Britain's role in the Atlantic alliance. Reprint.
608 pages, Paperback
First published January 1, 2001
About the author
Robert Skidelsky
67 books144 followersRobert Skidelsky was a British economic historian, author, crossbench life peer in the House of Lords, and Emeritus Professor of Political Economy at the University of Warwick. His three volume biography of the economist John Maynard Keynes (1983, 1992, 2000) received numerous prizes, including the Lionel Gelber Prize for International Relations and the Council on Foreign Relations Prize for International Relations.
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Displaying 1 - 5 of 5 reviews
June 11, 2014
This book should be an easy triumph, since the author's first two volumes in his Keynes biography were unquestionably the most lucid and even-handed account of his profound life, and this book recounts Keynes at the very height of his power and influence. His "General Theory on Employment, Money, and Interest" had already begun to reshape the world of economics, and, as an advisor to the British Treasury, he basically planned Britain's financing of World War II. He also conducted the negotiations which lead to American financial support for Britain during the war and then to the whole global financial architecture after it, from Bretton Woods to the World Bank and the IMF. What could be more thrilling than seeing a genius reshaping the world to approximate the one he saw in his mind's eye?
Unfortunately, while the other books were tour de force of intellectual biography, in this Keynes's ideas are notably absent and seemingly irrelevant. The British version of this book was actually titled "Fighting for Britain," and that much more accurately sums up Keynes attitudes and efforts in this period. The author shows Keynes as a man with an singularly parochial spirit, admirable in its own way, based on his love for the social and political moderation of English life, which, as he saw it, steered between the Scylla and Charybdis of European totalitarianism and American materialism, and all his efforts here are really only attempts to preserve Britain's prominence and prosperity in the postwar world. This is thus more of an emotional than an intellectual look at the man. Keynes is continually shocked that Americans, and Britain's colonies, would not give all of their treasure to support Britain's role in the world, going so far as to present one "plan" for post-war reconstruction, which would fully fund Britain's imports during the war, as merely the "Justice" plan. Nonetheless, the author demonstrates that Britain's expenditures irretrievably weakened the once mighty empire, and that despite Keynes attempts to ask the Treasury to stop its "Lady Bountiful" attitude to war expenditures and to save some for afterwards, he knew, and he knew that the Americans knew, that Britain emerged from the war a damaged country.
The author does admirably document Keynes's efforts towards these ends, and is very fair in expressing the Americans and others reluctance to concede to Keyenes's demands. He does also point out the arch-hypocrisy of Harry Dexter White, the American equivalent of Keynes, who was during these years reporting to Russian agents and whose anti-British imperialism efforts were based not just on American interests but on his hopes that the Soviet Union would take a more prominent place in the postwar world. Nonetheless, the author spends a baffling amount of time on picayune details of negotiations between the two nations, including a shocking 60 pages on the post-war discussions with the US on forgiving Lend-Lease loans, which the author admits were soon made irrelevant due to the influx of money from the Marshall plan. This book does then provide a worthwhile conclusion to Skidelsky's trilogy, but I wish it was more in the mold of the exciting intellectual journeys that he demonstrated in his first two.
Unfortunately, while the other books were tour de force of intellectual biography, in this Keynes's ideas are notably absent and seemingly irrelevant. The British version of this book was actually titled "Fighting for Britain," and that much more accurately sums up Keynes attitudes and efforts in this period. The author shows Keynes as a man with an singularly parochial spirit, admirable in its own way, based on his love for the social and political moderation of English life, which, as he saw it, steered between the Scylla and Charybdis of European totalitarianism and American materialism, and all his efforts here are really only attempts to preserve Britain's prominence and prosperity in the postwar world. This is thus more of an emotional than an intellectual look at the man. Keynes is continually shocked that Americans, and Britain's colonies, would not give all of their treasure to support Britain's role in the world, going so far as to present one "plan" for post-war reconstruction, which would fully fund Britain's imports during the war, as merely the "Justice" plan. Nonetheless, the author demonstrates that Britain's expenditures irretrievably weakened the once mighty empire, and that despite Keynes attempts to ask the Treasury to stop its "Lady Bountiful" attitude to war expenditures and to save some for afterwards, he knew, and he knew that the Americans knew, that Britain emerged from the war a damaged country.
The author does admirably document Keynes's efforts towards these ends, and is very fair in expressing the Americans and others reluctance to concede to Keyenes's demands. He does also point out the arch-hypocrisy of Harry Dexter White, the American equivalent of Keynes, who was during these years reporting to Russian agents and whose anti-British imperialism efforts were based not just on American interests but on his hopes that the Soviet Union would take a more prominent place in the postwar world. Nonetheless, the author spends a baffling amount of time on picayune details of negotiations between the two nations, including a shocking 60 pages on the post-war discussions with the US on forgiving Lend-Lease loans, which the author admits were soon made irrelevant due to the influx of money from the Marshall plan. This book does then provide a worthwhile conclusion to Skidelsky's trilogy, but I wish it was more in the mold of the exciting intellectual journeys that he demonstrated in his first two.
August 16, 2020
The best volume of the three: there is a clear plot to Keynes life by this point and Skildelsk describes it brilliantly and fairly.
October 31, 2010
Well I finally finished the third volume of Skidelsky's great biography of the economist John Maynard Keynes. I thoroughly enjoyed it, as I did the other two volumes; though it is now available as one big volume: my goodness must be 1500 pages.
At the end of it, what is most interesting is the complexity of Keynes: fundamentally conservative, traditionally British, becoming a radical iconoclast of free market economic orthodoxy in order to save the free market it from itself. The Keynes of these volumes is so far from the caricature of 'socialist' that comments to newspaper articles throw at him. And of course, he left in today's terms about $15 million, so he knew a thing or two about markets and how to make money on them for himself, his Cambridge College and for the Arts he so loved as part of the Bloomsbury set.
And I guess of course, I remain a Keynesian, so I am biased. Not a Neo-Keynesian or a vulgar un-self aware Keynesian like George W Bush but a balanced one, aware of his limitations (from this biography among other sources) but still thinking he is closer to reality than his opponents today.
At the end of it, what is most interesting is the complexity of Keynes: fundamentally conservative, traditionally British, becoming a radical iconoclast of free market economic orthodoxy in order to save the free market it from itself. The Keynes of these volumes is so far from the caricature of 'socialist' that comments to newspaper articles throw at him. And of course, he left in today's terms about $15 million, so he knew a thing or two about markets and how to make money on them for himself, his Cambridge College and for the Arts he so loved as part of the Bloomsbury set.
And I guess of course, I remain a Keynesian, so I am biased. Not a Neo-Keynesian or a vulgar un-self aware Keynesian like George W Bush but a balanced one, aware of his limitations (from this biography among other sources) but still thinking he is closer to reality than his opponents today.
March 1, 2008
Final volume in Skidelsky's three-part biography of Keynes. I am listed in the acknowledgments, so it must be good right?
Want to Read
August 5, 2009Have owned this for a long time, but only read a few pages so far. Time to finish. I know Volumes 1 and 2 are supposed to be better, but this one was available from a remainder outlet...
Displaying 1 - 5 of 5 reviews