The Price of Peace: Money, Democracy, and the Life of John Maynard Keynes

Random. May 2020. 656p. ISBN 9780525509035. $35. BIOG
In this illuminating and well-researched book, Carter, senior reporter at HuffPost, not only explains Keynesian economics, but also provides a comprehensive portrait of British economist John Maynard Keynes (1883–1946). Carter begins by describing Keynes’s personal life, including his childhood and his avant-garde circles of friends, along with the events and experiences that shaped his thinking. He also shows the development of Keynes’s economic theories—many of his ideas have influenced modern economics throughout the 21st century and have implications in today’s political and economic climates. One central idea is that global and individual country peace and prosperity cannot be obtained if there are trade imbalances and other significant financial and monetary disparities between countries; an environment of winners and losers, or creditors and debtors, only creates strife. Carter explains how Keynes advocated for better strategies to achieve peace and prosperity. He also enhances the work by providing one the best in-depth discussions of the gold standard.
VERDICT Academic readers who want more biographical information about Keynes will be captivated by this depiction of his life and thinking.
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