When Keynes returned to Cambridge to teach in 1908, Marshall had just retired from the chair of Political Economy, and from the active teaching life of the Faculty, to devote himself to writing further volumes of his Principles of Economics. However, his work and personality continued to dominate Cambridge economics, and Keynes’s economics, long after his retirement and even after his death in 1924. Therefore, to understand the development of Keynes’s ideas, one must first of all look briefly at the starting point, the Marshallian inheritance.
KeywordsExchange Rate Monetary Policy Trade Cycle Royal Commission Exchange Rate Policy
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- 9.R. S. Sayers, ‘The Young Keynes’, Economic Journal, June 1972, p. 594.Google Scholar