 SpeculationPiero V. Mini Chapter 5 in John Maynard Keynes, 1994, pp 84-93 from Palgrave Macmillan Abstract: Abstract The years of World War I saw the beginning of another activity of Keynes, one that contributed greatly to his maturing into an unclassical economist. We refer to his speculations in the stock, foreign exchange and commodity markets. In this chapter we shall look into this aspect of Keynes’s life relating it to his evolving general philosophy and economic beliefs. We will conclude that his speculative activities, like his war work, did not harmonise with his Moorean beliefs, the clash leading logically to a neurosis that found release in some beliefs and tools of analysis familiar to readers of The General Theory. To some extent, aspects of that scholarly book, not unlike aspects of The Economic Consequences, owe their origin to the clash between his super—ego (the Society’s values) and his more material, worldly desires. Further, what Keynes learned from the financial markets contributed in weakening his faith in the possibility of ‘mensuration’ and in the whole probabilistic approach of the Treatise on Probability. Keywords: Foreign Exchange; European Currency; Liquidity Preference; Scholarly Book; Discretionary Fiscal Policy (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-23606-0_6 Ordering information: This item can be ordered from DOI: 10.1007/978-1-349-23606-0_6 Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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