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KEYNES, JOHN MAYNARD. - [MULTIPLIER EFFECT FIRST MENTIONED IN PUBLIC DEBATE]

The Means to Prosperity.

lyn41574

London, MacMillian, 1933. 8vo. Orig. printed wrappers. A bit of sunning to front wrapper. Title-page and contents-leaf slightly brownspotted. Otherwise a nice and clean copy. 37 pp. ¶ First edition in book form of four articles that were originally printed in The Times in March 1933.

In view of the 30ies economic depression, Keynes wrote The Means to Properity which contained concrete recommendations regarding unemployment in a global economic crisis. The Means to Properity is one of the first places the multiplier effect is mentioned (later referred to as secondary effects). "Keynes employed the concept of the multiplier for the first time in public debate when he published a series of four articles entitled 'The means to prosperity' in The Times in March 1933". (Peden, G. C. Keynes and His Critics: Treasury Responses to the Keynesian Revolution, 1925-1946, British Academy, 2005).

The book, which was sent to several world leaders including U.S. President Roosevelt, paved the way for Keynes' economic ideas which later led to the worldwide economic cooperation, founded in Brettonwoods.

"Keynes was to dominate the international conference at Bretton Woods, out of which came the International Monetary Fund and the World Bank; and his influence during the ensuing decades, even on his theoretical opponents, has been such that a highly placed American official recently remarked that 'we are all Keynesians today'". (PMM, 423).

2 543 SEK

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