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Keynes and his effect on Europe

            
             He hardly seemed cut out to be a workingman's revolutionary, a graduate of England's exclusive Eton prep school, a collector of modern art and a graduate of Cambridge University, nonetheless he transformed the dismal science into a revolutionary engine of social program. Before Keynes economists were gloomy naysayer's. "Nothing can be done" "Don't interfere" "It will never work", but Keynes was an optimist. "Of course we can lick unemployment!" The "economic problem is not, if we look into the future - the permanent problem of the human race" he wrote. Keynes took a totally new view to economics, he was one of the first economist's to argue convincingly that governments should take measures to counter a depression. His ideas helped shift emphasis away from laissez-faire. The economic theory that maintains that government should not interfere in economic affairs. Keynes was born in Cambridge and later served in the British treasury from 1915 to 1919. It was from this date that Keynes became internationally prominent. He wrote "The Economic Consequences of the Peace". This book attacked the reparation which the Allies demanded from the defeated Central Powers after World War 1 and predicted the breakdown of the Versailles peace settlement. During the 1920's when England had serious economic difficulties Keynes wrote a series of books and essay's which attack the economic polices of the government and laid the basis for his great book of 1936. "The General Theory of Employment Interest and Money". This book marked a completely new departure in economics. He explained how recessions happen, and how government's can act to avoid them. Some of Keynes other work's include "A Tract on Monetary Reform (1923), The End of Laissry Faine (1926) and A Treatise on Money (1930). In these works Keynes explained many of his idea's of which many contributed to the development and growth of Europe in the second half of this century.


Essays Related to Keynes and his effect on Europe

1. Economics and John Maynard Keynes

Keynes, along with other economists of his time, saw an increasing number of flaws in the current economic thought. ... In the novel, Keynes predicts that the reparations would lead to Germany's financial collapse, which would in turn greatly affect Europe and the world1. ... Much of Keynes' support for his revolutionizing economic thought came from his credibility as an economist. ... Keynes developed his school of economic thought in 1936 as his attempts to end the depression. ... In Keynes complicated dissertation, his methodology--mathematically at least-- is inherently contradic...

  • Word Count: 1814
  • Approx Pages: 7
  • Grade Level: Undergraduate

2. Avoiding the Unavoidable - WWII

The treaty was supposed to create a durable peace; it had the opposite effect. ... Keynes had criticism of the treaty and wrote a volume about the errors. ... Keynes may have had a point about the European economy being connected because following the war we experiences the Great Depression not only in Europe but also in the United States. The treaty also left out provisions for the economic rehabilitation of Europe and Germany itself.5 If the Treaty of Versailles worked on restoring Germany and Europe together, then perhaps the war could have been avoided. ... This caused the citizens to lo...

  • Word Count: 1039
  • Approx Pages: 4
  • Has Bibliography
  • Grade Level: High School

3. The Economic Thermostat

His ideas of controlling inflation are unattainable. ... The Keynes theory taught them that the quantity of money did not matter but what mattered was free spending and the money multiplier. ... The European Central Bankers keep a focus on money growth and inflation to prevent an emerge of serious financial imbalances. ... Alan Greenspan, on the otherhand, believes in a "bubble effect" view on the economy. ... He believes it is safer to wait for a bubble to burst on its own then to try to control the after effect by easing monetary policy. ...

  • Word Count: 1182
  • Approx Pages: 5

4. The Causes of The Great Depression

John Maynard Keynes, in the early 1930s, attributed the crisis to the impact of changes in Federal Reserve monetary policy. Later however, in his book The General Theory of Interest, Money, and Employment in 1936, he blamed the depression on the loss of business confidence that impaired investment spending. ... The failure of one bank had a domino effect, spreading the fear and causing runs on other banks, which then failed. ... In the late 1920s, the demand for American goods from the Europeans began to decline because the European industries and agriculture were becoming more productive. ...

  • Word Count: 1109
  • Approx Pages: 4
  • Grade Level: Undergraduate

5. The Paris Peace Treaties and World War I

The Paris Peace Treaties was responsible for many economic problems in Europe during the 1920s. ... Also as economist john Maynard Keynes saw, the Paris peace Treaties lacked an economic focus, and instead concentrated on other issues. ... This was therefore a missed opportunity to rebuild Europe after World War 1 and create economic stability. ... Therefore the Paris peace Treaties both created and failed to solve a variety of economic issues in Europe during the 1920s; important examples of this were the Reparations and the War debts, which had effect of creating an economical unstable Europ...

  • Word Count: 2228
  • Approx Pages: 9
  • Grade Level: Undergraduate

6. What was the policy of appease

Firstly I will argue that the forces which determined this policy choice were overwhelmingly strong, and that opposition presenting an alternative was divided, inconsistent or both; and second that as far as the question of failure was concerned, all policies of peace were bound to fail in the face of Hitler's foreign policy aims and Britain's commitment to maintaining some kind of balance of power in Europe. ... Public opinion supported his belligerent approach. ... In a time when Keynes was not yet a Keynesian (and able to point out that a substantial rearmament programme ...

  • Word Count: 2060
  • Approx Pages: 8
  • Grade Level: Undergraduate

7. The Great Depression

(Himmelberg, 8) American exports, moreover, declined sharply as depressed conditions appeared in Europe soon after the American crash in late 1929. (Himmelberg, 8) As the depression spread throughout the world, European markets for American goods fell off, creating even more unemployment in the U.S. ... (Himmelberg, 8) As modern economic historians have pointed out , exports fell off only proportionately to the decline of the European economies and appear to have been declining simply because of falling European buying power rather than because of retaliatory tariffs. (Himmelberg, 8) Rega...

  • Word Count: 5420
  • Approx Pages: 22
  • Has Bibliography
  • Grade Level: Undergraduate

8. Eamon de Valera and the league of Nations

His father died when he was only two years of age, which signalled his return to Ireland. ... He married his Irish teacher Sinead Flanagan, whom was 4 years older than him, in 1910. He gained his inspiration for republican separatism from his association with the league. ... From the offset he immediately declared his stance towards those who opposed his position and the position of those who were democratically elected by the people of Ireland i.e. ... De Valera was very anxious that he and indeed Ireland would play a very important part in European and international politics. ...

  • Word Count: 3770
  • Approx Pages: 15

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