John Maynard Keynes, Vol. 3: Fighting for Freedom, 1937-1946 [Hardcover]

Robert Skidelsky (Author)

Book Description

Publication Date: November 29, 2001

The first two volumes of Robert Skidelsky's definitive and consummate biography of John Maynard Keynes were hailed as publishing events on both sides of the Atlantic. Already published to acclaim in Britain, this third and final volume covers Keynes's later years from 1937 to his death in 1946. During this period, Keynes's outstanding contribution to the financing of Britain's war effort, to the building of the postwar economic order, and his role in Britain's struggle to preserve its independence within the Atlantic alliance solidified the economist's lasting importance in twentieth-century history. Skidelsky lucidly explains Keynes's economic theories and masterfully evokes the complexities of his personality. The book abounds in lively anecdotes and memorable portraits, notably that of his devoted wife, Lydia Lopokova, whose eccentric but utterly logical post-Keynesian existence is charted in a delightful epilogue. Insightful and intelligent, this is a work that tells the story of a passionate and determined visionary and provides an invaluable overview of issues that remain at the center of international political and economic debate.

Editorial Reviews

From Publishers Weekly

"In the world of economics and finance," Skidelsky writes, "Keynes had come to occupy the same position as Churchill in the world of politics" during WWII, even though his position as adviser to the chancellor of the exchequer was unofficial and unpaid. In the third and final volume of this definitive biography, Skidelsky, professor of political economy at England's Warwick University, depicts the great Bloomsbury fiscal philosopher as a tireless wartime activist. Paradoxically, Skidelsky notes, "Keynes rates a single mention in [Churchill's] five-volume history" of WWII. Yet the two had complementary goals to finance and win the war, regain economic footing and preserve the British Empire. (The biography's subtitle, thus, is the only false note in the book.) The Brits and Americans clashed over this last point amid their broader economic rivalry. Keynes's shuttle diplomacy with Washington regarding Lend-Lease and postwar fiscal settlements, despite his ever-weakening heart (he died the year after victory), furnishes a tense if dense narrative. Keynes understood England's industrial inefficiency, and that his own efforts to resuscitate his country would hold back the hands of the global clock and swindle England's crucial ally. But he was always a prescient economist, realizing, among other things, that American policy in 1945, which favored Russia fiscally over Britain, risked Soviet domination of Europe. Despite some confusing chronologies, the biographer's prose is worthy of his subject. Another great merit is Skidelsky's charming evocation of Keynes's loyal wife, Lydia Lopokova, once a Russian ballerina. Readers shouldn't be daunted by pages of fiscal detail, which can be scanned. This elegant and accessible account lives up to the distinguished earlier volumes. Illus. not seen by PW. (Dec.

Copyright 2001 Cahners Business Information, Inc.

From Library Journal

Lord Skidelsky (political economy, Warwick Univ.) has received critical acclaim for this three-volume biography of Keynes, published first in Britain, where last year this final installment was named Book of the Year by the Economist. Here, he provides a scholarly, highly detailed, well-written, and provocative tome on the later years of Keynes's life (he died in 1946). During this period, Keynes created an economy that enabled Britain to pay for the war and worked with his allied covictors to create a postwar economy that outlived him. His theories, persuasiveness, and knowledge were significant not only in providing a mechanism for financing the war effort but in enhancing his position and influence as an economist. Controversies and anti-Keynesian forces were also in the forefront, prompting much debate over his role in economic theory and practice. Skidelsky documents much of this controversy, as well as his subject's personal life, including his marriage to ballerina Lydia Lopokova. The extensive bibliography is useful for further research. Large public and many academic libraries will certainly want to consider this worthy addition for their political economy collections, even if they already have earlier Keynes biographies by Donald Moggridge (Keynes, Routledge, 1992) and Mark Blaug (John Maynard Keynes: Life, Ideas, Legay, Bodart, 1991). Steven J. Mayover, Philadelphia
Copyright 2001 Reed Business Information, Inc.

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Product Details

• Hardcover: 580 pages
• Publisher: Viking Adult; First Edition edition (November 29, 2001)
• Language: English
• ISBN-10: 0670030228
• ISBN-13: 978-0670030224
• Product Dimensions: 9.1 x 6.2 x 1.9 inches
• Shipping Weight: 2.2 pounds
• Average Customer Review: 5.0 out of 5 stars  See all reviews (4 customer reviews)
• Amazon Best Sellers Rank: #608,697 in Books (See Top 100 in Books)

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Most Helpful Customer Reviews

22 of 23 people found the following review helpful:

5.0 out of 5 stars A Major Force with Enduring Influence, December 21, 2001

By 

Robert Morris (Dallas, Texas) - See all my reviews
(TOP 50 REVIEWER)    (HALL OF FAME REVIEWER)    (VINE VOICE)    (REAL NAME)   

This review is from: John Maynard Keynes, Vol. 3: Fighting for Freedom, 1937-1946 (Hardcover)

In this, the third and concluding volume of his biography of Keynes, Skidelsky offers a brilliant analysis of one of the most influential thinkers of the 20th century. Skidelsky offers a remarkable discussion of the man (as opposed to the icon) whose influence seems to have fluctuated according to conventional (received?) wisdom with regard to fundamental economic principles. Economists have either agreed or disagreed about the value of Keynes's ideas (often with more heat than light) since the publication of his major work, The General Theory of Employment, Interest, and Money (1936). As a non-economist, I have only casually observed how his principles have gone in and out of favor as the national economy itself improves, flattens out, weakens, improves, etc. I enjoyed this book because it connected a human being with the principles to which so many others have referred in books and articles. Also because, as international trade accelerates in terms of both scope and depth (largely because of the Internet and the WWW), the role of government in each country will inevitably change...especially governments in those countries which were formerly members of the U.S.S.R. as well as in other countries in Asia, notably China. Thanks to Skidelsky's book, I am now much better prepared to recognize and understand such changes. I wish I had read the second volume in the trilogy (subtitled "The Economist as Savior") before reading this one. Those who read this review are urged to do so. However, judged wholly on its own merits, this final volume (subtitled "Fighting for Freedom") is a first-rate achievement.

6 of 7 people found the following review helpful:

5.0 out of 5 stars In the short run we are still alive, September 5, 2004

By 

Luc REYNAERT (Beernem, Belgium) - See all my reviews
(REAL NAME)   

This review is from: John Maynard Keynes: Fighting for Freedom, 1937-1946 (Paperback)

The last part of Robert Skidelsky's magnificent biography of J.M. Keynes is a tale about the fall of the British Empire with Keynes as one of its most clairvoyant and active go-betweens trying to avoid the disaster. Great-Britain had won the war but it was bankrupt, crushed by its debt contracted to buy US weapons.
This book shows clearly through its analysis of the Bretton-Woods negotiations and the discussions about the conversion of British debt, that the ultimate goal of the US Administration was to get Great-Britain on its knees and to take its place as world leader.
The US preferred an alliance with te Soviet Union against Britain. Their most important negotiator H.D. White was a convinced Soviet spy.
Keynes defended exhaustingly Britain's role in world matters by begging time for a reconversion of the British industry from a war to a civilian economy and for safeguarding its Commomwealth with its preferential tariff and pound sterling payment system.
The humiliatig conditions for its debt conversion imposed by the US would cripple the British economy for years. The suicidal internecine European wars created a new world hegemon: the US.

Before the war, Keynes defended his 'Treatise' policies, but saw them applied in Germany by a very clever economist, Hjalmar Schacht, who also saved the German economy internationally by creating a bilateral trade system.
Prof. Skidelsky shows us also pregnantly the deterioration of Keynes's physical condition, aggravated by his exhausting travels, difficult (empty handed) negotiations and even hard opposition at home when he was in the US.

One could perhaps slightly criticize the exhaustive excerpts of letters or the extremely detailed evolution of the negotiations in Bretton-Woods or about British debt relief. But, all in all, this is a fascinating read.

1 of 1 people found the following review helpful:

5.0 out of 5 stars In the short run we are still alive, September 5, 2004

By 

Luc REYNAERT (Beernem, Belgium) - See all my reviews
(REAL NAME)   

This review is from: John Maynard Keynes, Vol. 3: Fighting for Freedom, 1937-1946 (Hardcover)

The last part of Robert Skidelsky's magnificent biography of J.M. Keynes is a tale about the fall of the British Empire with Keynes as one of its most clairvoyant and active go-betweens trying to avoid the disaster. Great-Britain had won the war but it was bankrupt crushed by its debt contracted to buy US weapons.
This book shows clearly through its analysis of the Bretton-Woods negotiations and the discussions about the conversion of the British debt, that the ultimate goal of the US Administration was to get Britain on its knees and to take its place as world leader.
The US prefered an alliance with the Soviet Union against Britain. Their most important negotiator H.D. White was a convinced Soviet spy.
Keynes defended exhaustingly Britain's role in world matters by begging time for a reconversion of the British industry from a war to a civilian economy and for safeguarding its Commomwealth with its preferential tariff and pound sterling payment system.
The humiliating conditions for its debt conversion imposed by the US would cripple the British economy for years.
The suicidal internecine European wars created a new world hegemon: the US.

Before the war, Keynes defended his 'Treatise' policies, but saw them applied in Germany by a very clever economist, Hjalmar Schacht, who also saved the German economy internationally by creating a bilateral trade system.
Prof. Skidelsky shows us also pregnantly the deterioration of Keynes's physical condition, aggravated by his exhausting travels, difficult (empty handed) negotiations and even hard opposition at home when he was in the US.

One could perhaps slightly criticize the exhaustive excerpts of letters or the extremely detailed evolution of the negotiations in Bretton-Woods or about British debt relief. But, all in all, this is a fascinating read.