The Elgar Companion to John Maynard Keynes
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The Elgar Companion to John Maynard Keynes

Edited by Robert W. Dimand and Harald Hagemann

The most influential and controversial economist of the twentieth century, John Maynard Keynes was the leading founder of modern macroeconomics, and was also an important historical figure as a critic of the Versailles Peace Treaty after World War I and an architect of the Bretton Woods international monetary system after World War II. This comprehensive Companion elucidates his contributions, his significance, his historical context and his continuing legacy.
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Chapter 15: Alfred Marshall

Peter Groenewegen


The entry focuses on the relationship between Keynes and Alfred Marshall (1842–1924). It distinguishes four relevant stages: (1) Marshall’s long friendship with his parents, John Neville and Florence Ada Keynes; (2) Marshall as Keynes’s main teacher of economics at Cambridge; (3) collegial debates from the beginning of Keynes’s economics lecturing at Cambridge starting after Marshall’s retirement in 1908 until his death; and (4) the posthumous stage of association from Keynes’s masterful obituary memoir and his edition of Marshall’s Official Papers to his critique in the General Theory that Marshall’s economics was lacking a theory of effective demand

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