British economist who left the Treasury in protest at the peace treaty and warned of the damage reparations would do
Born in Cambridge, he studied mathematics at King’s College. Entering the Treasury in 1915, he designed the terms of credit between Britain and its continental allies. At the Paris Peace Conference he tried to keep Germany’s reparations within its capacity to pay but was largely excluded from the high-level talks, and the treaty’s outcome led to his resignation from the Treasury. The Economic Consequences of the Peace (1919), predicting the treaty’s damaging effects, made him internationally famous. In the Depression he argued that aggregate demand determined the level of economic activity and called for fiscal and monetary policy against slumps, publishing The General Theory in 1936. He led the British delegation at Bretton Woods in 1944, where the American plan largely prevailed. He died of heart attacks in 1946.
Activities and affiliations
Career Timeline
- 1915–1919Treasury official
- 1919Treasury representative at the Paris Peace Conference; resigned
- 1919The Economic Consequences of the Peace
- 1936The General Theory of Employment, Interest and Money
- 1944Head of the British delegation at Bretton Woods