The General Theory is a controversial book, which raises questions about the nature of its assumptions and conclusions. The answers to these questions led to different interpretations which were not mutually compatible and gave rise to controversies and, in some cases, even to distorted interpretations, which transformed the message of The General Theory into something completely different. This chapter discusses a few of the distortions to which Victoria Chick, together with many others, has drawn attention over the years and puts forward a suggestion for why The General Theory might have been liable to be misinterpreted.
Maria Cristina Marcuzzo
Of all academic economists, Kahn was the closest to Keynes and was a major protagonist in the Keynesian revolution, and after Keynes’s death Kahn – often in partnership with Joan Robinson – was one of the main pillars in the defence, propagation and extension of Keynesian ideas. He made contributions which secured him a prominent place in the history of economics in the areas of imperfect competition, the theory of employment and monetary and international economics. However, Kahn was not just an academic economist, but had concrete experience as an economic adviser to and an executive director of big organizations, such as the Middle East Supply Centre in the early 1940s and the United Nations Conference on Trade and Development (UNCTAD) in the 1960s. Near the end of his life he dedicated his efforts as a theoretical economist, academic and member of the House of Lords to demolishing the “mystique” of monetarism and building an alternative institutional framework on “Keynesian” foundations.
Maria Cristina Marcuzzo
Carlo Cristiano and Maria Cristina Marcuzzo
Keynes the investor has recently attracted the attention of several scholars and quite a few articles have come out in the last six years. A description of Keynes's dealings has emerged, assessing his performance as an investor as superior but not as stellar as had previously been believed. However, overall evaluation of Keynes's performance is still lacking. This paper contributes to this growing literature by filling some of the gaps, especially in relation to Keynes's investment philosophy and economic theory, and by undertaking a more comprehensive review of the available evidence, drawing on some unpublished sources which have not as yet been fully exploited.