John Maynard Keynes: Volume 1: Hopes Betrayed 1883-1920 (Paperback)

~ Robert Skidelsky (Author)
Key Phrases: paper currency reserve, accepting houses, separation allowances, Lloyd George, Lytton Strachey, Duncan Grant (more...)

Editorial Reviews

From Publishers Weekly

For Keynes, surprisingly, philosophy took precedence over economics. His personal system of ethics, worked out while he was a member of a secret undergraduate Cambridge discussion group, stressed the freedom of individuals to pursue the good egoistically. Since money and morality are so closely interlinked for Keynes, a candid reappraisal of his life might prove instructive. Skidelsky's massive biography (of which this is the first half) peels away the establishment veneer to show us a Bloomsbury intellectual, a homosexual, a conscientious objector in World War I and a latecomer to economics who initially thought that the "dismal science" was of low value. Keynes used his position at the Treasury Department to push for the Allies to fight a limited war. Infatuated with statistics, he kept count in his diary of his sexual encounters with his lover, painter Duncan Grant. Almost too slowly, we watch the Bloomsbury esthete, who put friends and knowledge above all, transformed into the pioneer liberal economist. Billed as the first full-scale biography since Sir Roy Harrod's 1951 Life, this work, when completed, should show what connections, if any, link Keynes's life and his fiscal theories. Skidelsky, a university professor in England, is the author of The End of the Keynesian Era. Photos not seen by PW.
Copyright 1986 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.

Product Description

"Hopes Betrayed" establishes Keynes' historical setting and explains what turned him into a radical economist. He gives an analysis of the economist's sustained assault on conventional wisdom, and shows how Keynes' story is not just that of a revolution in economic theory, but also part of the story of the evolution of modern government. Other books by Robert Skidelsky include "Politicians and the Slump", "The End of the Keynesian Era" and "Oswald Mosley". --This text refers to an out of print or unavailable edition of this title.

Product Details

• Paperback: 496 pages
• Publisher: Penguin (Non-Classics) (January 1, 1994)
• Language: English
• ISBN-10: 014023554X
• ISBN-13: 978-0140235548
• Product Dimensions: 8.4 x 5.5 x 1.1 inches
• Shipping Weight: 1 pounds
• Average Customer Review: 4.4 out of 5 stars  See all reviews (8 customer reviews)
• Amazon.com Sales Rank: #729,597 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

11 of 11 people found the following review helpful:

5.0 out of 5 stars A comprehensive account of Keynes' precocious early life., February 15, 2000

By	Howard Devoto (West Bridgeford, Nottingham) - See all my reviews

Robert Skidelsky provides a punctilious account of the most influential economist of the 20th century and the intellectual and social milieu's that shaped him. Keynes is easily the most recognizable name in 20th century economics, followed somewhat closely by John Kenneth Galbraith and Milton Friedman.

In the book's preface, Skidelsky claims he was the first biographer to attempt to go into detail about Keynes' hitherto undiscussed homosexual relationships. The most notable and emotionally involved of these affairs occured with painter and fellow Bloomsbury member Duncan Grant. Skidelsky confirms that Keynes also slept with Bloomsbury biographer Lytton Strachey. Several corresponding letters between Keynes and Strachey not only confirm this, but a subsequent sexual rivalry over the affections of Grant. G.E. Moore's 'Principia Ethica' unquestionably wrought out a strong influence on Keynes and Strachey's radical sexual attitudes after they had read it. Some unfastidious anti-Keynesians have tried to tie in Keynes' early predispositions to homosexuality (he later in life married a Russian Ballet dancer named Lydia Lopokova) with his rejection of the gold standard. This probably isn't a valid argument, given the level of abstraction Keynes' mind reached at an early age to develop and entertain such unorthadox methods.

Keynesian economics has been repudiated by many laissez-faire proponents over the past two decades. The most well reasoned of these critiques have come from Friedman and Robert Lucas; who have each received Nobel Prizes for their work. Notwithstanding, both pale in comparison with the impact Keynesianism has had on post-WW2 macroeconomics.

Whether or not you're an unyeilding Keynesian or a free market capitalist, you'll find it impossible not to marvel at this remarkable biography of a remarkable man. Keynes should be included at the top of anyone's list of the 20th century's most important intellectuals.

7 of 8 people found the following review helpful:

5.0 out of 5 stars Dazzling subject. Brilliant biography, November 18, 1999

By	S. Maruta (Bristol, England) - See all my reviews (REAL NAME)

Somebody, probably in The Economist, once wondered why Keynes had not achieved the cult status of a Freud or Einstein. This book will just let those people inclined to wonder so sink even deeper in contempt for posterity, cause Keynes had it all, the intellectual power, the social brilliance (and a decidedly wicked private life in the Bloomsbury circles), and the conscience of a mission to be accomplished, quite simply to save civilisation...

Skidelsky's talent as a biographer is beyond praise.

4 of 5 people found the following review helpful:

5.0 out of 5 stars A would-be philosopher turned economist, May 27, 2003

By	Roberto P. De Ferraz "ferraz9" (Sao Paulo, Brazil) - See all my reviews (REAL NAME)

John Maynard Keynes' life faithfully portrayed by Robert Skidelsky, is a life of a man grown up amidst the intelectual aristocracy of his time, which coincided with the beginning of the downfall of the Victorian age and was to culminate in the First World War. His father John Neville Keynes was a famous economist of his time and had many other intelectual atributes which he didn't want to put up to test in the academic arena, despite a lot of incentives by the famous economist Alfred Marshall, the most proeminent thinker of the neo-classics school of thought. Neville Keynes was determined instead to follow closely and have influence upon the professional careers of his most inteligent son. To anyone who whished to compare this situation to the education the philosopher James Mill gave to his son John Stuart Mill, I would warn he/she to be cautious cause the result is very much different than could be foresaw.
What the book shows is the fascinating formative years of one of the most influential men of all times, who had a strong appetite for getting all the knowledge he could get and who didn't hide behind his geniality. Quite to the contrary, Keynes was up for everything he could grab, be it different sexual male partners, a lot of trips to Italy and a lot of academic prizes, estimulated by the spirit of competion his father tried to assert on him, at the end to no avail. Also, the pace of his intelectual output is outstanding, being Keynes almost always pushed to the limit to do a lot of different things at the same time.
Some crude aspects of Keynes sexual life are also all there via the transcriptions of the many letters he exchanged with his male lovers and friends of the many different intelectual cycles he was part of.
His education at the noblest institutions in England (Eton and Cambridge)where he got the opportunity to intermingle with the likes of Bertrand Russell, Virginia Wolf, Whitehead and the philosopher Moore, the latter certainly the most fundamental influence he had in these formative years, provided the social and intelectual backgrounds needed to awake the geniality of the most brilliant economist of the last century.