Biography
John Meinard Keynes is an outstanding figure of the 20th century, whose contribution to the economy is confirmed by the fact that a whole direction appeared in science, called by Keynesianism. Summing up the past century in 1999, Time magazine included an economist among the most important people of the century. Under the influence of the basic ideas of the British, institutions such as the global foreign currency fund and the Bank for Reconstruction and Development have appeared.Childhood and youth
The biography of an economist is closely connected with Cambridge, where he was born on June 5, 1883 and lived until his death. Father John Nevil Keynes was influenced by the choice of the future vocation, who was taught in the University of Cambridge and heard a specialist in the field of economics, philosophy and logic. Mother Florence Hell Brown was not among the modest housewives: a woman wrote a book, engaged in public problems and eventually became the mayor of the city. Employment did not interfere with her to raise three children - besides John, Brother Jeffrey and sister Margaret grew up in the family.
Brought up in a teaching environment and received primary education in a prestigious Iton College, Keynes has already demonstrated a sharp mind and ability to science. Studying at school, a young man also worked in the library, where, in addition to reading books, was fond of the preparation of pedigree. Possessing deep knowledge in the field of mathematics, Latin and Greek, he became a student of the Royal College in Cambridge.
It belong to the intellectual elite by the right of birth, John surrounded himself a brilliant society, where young philosophers, scientists, writers and artists rotated. The young man was part of the Cambridge Apostles group, where it was shared by the first scientific papers. Many "apostles" made up a Bloomsbury Circle - the elite community of young intellectuals, including Bertrand Russell, Virginia Wolfe, Clive Bell, George Moore and other prominent representatives of the era.
In the Royal College of Cambridge, Keynes studied at the outstanding English scientist Alfred Marshall, the founder of the neoclassical direction in economic science. In 1908, John graduated from studying, defending his thesis on mathematical induction methods and probability theory. At that time, he had already started working at the Royal Finance Commission and the currency of India.
Personal life
Being a representative of the free and slut-off era, Keynes did not refuse himself in forbidden pleasures. His first love relationship was originated during the years of student youth, and its object was the Scottish artist Duncan Grant. Young people did not hide the relationship and were not afraid of convictions, but their novel ended in 1909, after which the personal life of John entered a more traditional direction.In 1918, in London, Sergey Dyagilev's tier in London, the economist became acquainted with the Russian Ballet Lady Lopukhova. She was the daughter of the ballet marster of the Mariinsky Theater, and the whole family of the girl tied life with a dance. Their friendship began in 1921, and after 4 years, the couple got married. By the time, the woman managed to turn around with touring Europe, live in the US, dance with Vaclav Nizhinsky and be married to the manager of Dyagilev - Italian Randolfo Baroque.
Lopukhova organically joined the circle of Keynes's friends, although he did not possess skepticism and snobbery inherent in English intellectuals. She fascinated people with ease, openness and immediacy and became good wife for John. The joint photo of the pair has been preserved. Their marriage turned out to be happy, although the spouses did not have children: the only attempt done in 1927 ended with miscarriage.
Marrying Lydia, the economist has repeatedly visited Soviet Russia. But the ballerina never returned to his homeland, although all his life was engaged in propaganda of Russian art and literature abroad, speaking with programs about the classics on the radio and sharing memories of great compatriots. Lopukhova survived her husband for 35 years and died in 1981 in East Sussex.
Scientific activity
Until 1915, Keynes worked at the Royal Commission on Indian Finance and Currency and taught at the Royal College. During this period, he published the first essays and books and began to edit The Economic Journal, where he worked almost to death. Then the man was invited to the Ministry of Finance, where the British managed to reveal the talent of the scientist and practice.
Offering a plan for restoring Europe after the First World War, John opposed the imposition of exorbitant contributions to Germany, predicting the collapse of its economy and, as a result, a new world war. Keynes outlined his thoughts in the work of the "economic consequences of the world", released in 1919.
In the 1920s, the man was predicting the processes of the global economy, a currency rate and the gold standard, summing up reflections in the "Treatise about money". The Great Depression, which covered the United States after the crisis, became the object of studies of a scientist who advocated the introduction of fiscal and monetary policy to mitigate the negative consequences of a grand economic recession.
The result of many years of development was the main work of Keynes "General Theory of Employment, Percentage and Money", published in 1936 and brought it into the ranks of the greatest economists of the 20th century along with Frank Knight, Harry Dexter White and Milton Friedman. Quotes from the book entered the textbooks on the economy, and its author became the founder of macroeconomics as an independent science.
The Englishman did not simply theorize at the level of world finance, but also engaged in the increase in its own capital through investment. Having earned this way, John hardly lost everything during the collapse of the stock market in 1929, but escaped bankruptcy, and by the end of his life, his property was estimated almost at £ 500 thousand.
Death
Keynes worked a lot of life and vigorously. Even experiencing health problems, a man did not refuse foreign trips, where he solved global economic problems such as questions on the Anglo-American loan, which was engaged in 1946. During the discussion of the contract in Savannah, Georgia, the first heart attack happened to John. Returning to England, the economist again felt the problems with the heart.On April 21, 1946, in the farm house under fir, East Sussex, Keynes did not. The cause of death became a heart attack. The 62-year-old Englishman survived not only the wife, but also both parents who dispeld his dust over the family estate Tilton.
Quotes
- "I work for a state that despise. Despise for the policy that I consider the ruling. "
- "Long-term perspective" is a bad adviser in current affairs. In the long run, we are all dead. "
- "Demand creates supply."
- "Ah, if economists could do so that they saw modest, honorable people in them, not worse than dentists, - as it would be great!"
- "There is nothing wrong with that sometimes it is wrong, the main thing is to understand it on time."
Bibliography
- 1913 - "Cash circulation and finance in India"
- 1919 - "Economic consequences of the world"
- 1921 - "Treatise on probability"
- 1923 - "Treatise on monetary reform"
- 1926 - "End of non-interference principle"
- 1930 - "Coney Treatise"
- 1930 - "End of the Gold Standard"
- 1936 - "General theory of employment, percentage and money"