The war turned Keynes into an economist. The following two decades were so unsettled that they appeared to him to be almost ‘war by other means’. Keynes’s articles, essays and letters in this period are full of earnestness, of a sense of gloom and urgency. When in 1931 he reprinted his best essays of the previous twelve years he referred to them as ‘the croaking of a Cassandra who could never influence the course of events in time’, noting, however, that history eventually vindicated what others at the time regarded as his ‘extreme and reckless utterances’.1
KeywordsCentral Bank Money Supply Bank Rate International Commodity Cotton Industry
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