John Maynard Keynes lived through two world wars as well as the great depression between them, and as an economic adviser to British and American governments did his best to fend off political disaster. But Zachary Carters solid, sombre intellectual biography begins at a moment when Keynes himself, in his private capacity, seemed to be causing a seismic upset. The Universe totters, Lytton Strachey informed his cronies in the Bloomsbury set in 1922: the cataclysm had happened because Keynes whose previous lovers, conscientiously indexed in his archives, were a troupe of nameless men, among them the shoemaker of the Hague and the clergyman had taken up with a woman, the Russian ballerina Lydia Lopokova.
By starting with this salacious titbit, Carter enticingly sexes up a book that soon settles down, as Keynes did, to be grimly serious. When he married Lopokova, Keynes gave up the sportive pursuit known in Bloomsbury as buggery and, as he saltily put it, relished being foxed and gobbled by his wife. Cultivating what he called a disgusting and financial state of mind, he became a public man so loftily impersonal that in an obituary in 1946 his former adversary Lionel Robbins called him God-like.
But conservatives have never stopped alluding to his libertine youth as a means of disparaging his assault on balanced budgets and penny-pinching austerity. Joseph Schumpeter, an Austrian toff who wore riding gloves when he lectured at Harvard, sniffed that because Keynes was childless, his principles of economic management were short-run indifferent to future outcomes. The slur was recently repeated by Niall Ferguson. In 1983 William Rees-Mogg the proud begetter of jiving Jake, choreographer of the Westminster conga diagnosed Keyness hostility to the gold standard as a symptom of the amoralism for which homosexuals were in his view notorious.
Carter wastes no time on such odious aspersions, and instead interprets the hedonism of Bloomsbury as a positive influence on Keynes, whose ideal aim was the democratisation of fine living. Economy began as a miserly, parsimonious business: the Greek word refers to the virtuous practice of making do with less. Keynes, however, saw it as a doctrine that preached joy through statistics.
Im dubious about Carters claim that KeynessEconomic Consequences of the Peacedeserves to be ranked with StracheysEminent Victoriansand EliotsThe Waste Landas a modernist masterpiece; he does a better job of presenting the economist as an artist manqu when he suggests that Keynes saw money as something illusory a fiction, or what linguists call a floating signifier. Keynes daringly acknowledged his reliance on artifice by describing economic policy as a meaningless ritual, a trick to ensure that we continue spending the abstract, notional contents of our wallets.
The price of peace in 1918 was a grand scheme devised by Keynes that proposed sending money round in a circle, paid out to Germany as funds for rehabilitation and then paid back as reparations. Carter admiringly likens this arrangement to the mad machines in Rube Goldbergs cartoons; it might have held the squabbling world together for a while if President Woodrow Wilson hadnt bluntly rejected the elaborate, deceptive rules of the game.
Economics, for Keynes a form of play, was underpinned by aesthetics. An off-hand metaphor revealed his partiality: in Britains imperial heyday, he said the Bank of England was the conductor of the international orchestra. He reminded governments of their duty to subsidise entertainers, whose divine gift brightened our lives. His utopia was the Covent Garden theatre which is now the Royal Opera House, where he first saw Lopokova dance with Diaghilevs company. When it reopened in 1946, under the auspices of the newly established Arts Council, money ran out before the auditoriums lampshades had been paid for. Women hired as usherettes therefore donated their rationed clothing coupons to buy the fabric. This small sacrifice moved Keynes to tears.
Keynes dies two-thirds of the way through Carters book, which goes on to follow the contested afterlife of his ideas in America. Although Republicans denounced the welfare state as a socialist conspiracy, what John Kenneth Galbraith called reactionary Keynesianism seized on war as the highest form of deficit spending and, rather than diverting funds into something like the NHS, kept the country permanently militarised, poised for campaigns of mass death in Korea, Vietnam, Iraq and Afghanistan.
Meanwhile Keyness dream of making great art and beautiful evenings available to all citizens dwindled into the tacky abundance of the affluent society. Consumption, Keynes declared in 1936, is the sole end and object of all economic activity. What would he have thought of consumerism and the mile-long queues of famished shoppers in car parks when Ikea reopened earlier this month?
In Carters persuasive account, the slippery triangulations of Clinton and Blair are the final betrayal of Keynes: neoliberalism set markets free, unleashed speculators, and opened the way to a globalisation that treated people as disembodied profit maximisers and crammed them into Hillary Clintons basket of deplorables. Finally Carter admits that the Keynesian recipe for peace and prosperity has proved tragically incapable of sustaining democracy. Why did economic losers in the red states allow a demagogue like Trump to rip them off? Why do Tories crave a no-deal Brexit that will impoverish us all?
I do not have satisfying answers, says Carter with a morose shrug, after which he worries that we are blundering back into the moral quagmire that Keynes hoped to avoid. The book ends with an alarming reminder that victories for democracy and equality the end of slavery in the 19th century and the defeat of fascism in the 20th came at the end of a gun.
Keynes rebuffed criticism of his short-run solutions by pointing out: In the long run, we are all dead. True enough, but in the immediate future, as economies stall and societies fray, we may face a fate worse than death. The universe is tottering all over again.
The Price of Peace: Money, Democracy, and the Life of John Maynard Keynesby Zachary D Carter is published by Random House($35)
Visit link:
The Price of Peace by Zachary D Carter review how liberals betrayed Keynes - The Guardian
- Home - Wild Women Vacations - December 23rd, 2016 [December 23rd, 2016]
- Hedonism - New World Encyclopedia - December 26th, 2016 [December 26th, 2016]
- Hedonism II (Negril, Jamaica) - UPDATED 2016 Resort (All ... - January 3rd, 2017 [January 3rd, 2017]
- Hedonism II Resort Negril, Jamaica - January 8th, 2017 [January 8th, 2017]
- Hedonism II Community | Home - January 30th, 2017 [January 30th, 2017]
- Hedonism and healing - Independent Online - February 7th, 2017 [February 7th, 2017]
- Dark side of hedonism: a rock journalist's battle with drug addiction - The Guardian - February 7th, 2017 [February 7th, 2017]
- Rainbow Serpent turns 20: a weekend of boundless hedonism - Mixmag - February 7th, 2017 [February 7th, 2017]
- 'Dream Boat': Love Comes In All Shapes And Sizes In This Candid Berlinale Documentary Set On A Gay Cruise Ship - moviepilot.com - February 11th, 2017 [February 11th, 2017]
- Black Wave review: From hedonism to the apocalypse - Irish Times - February 11th, 2017 [February 11th, 2017]
- Feminism, ambition, hedonism: drama explores lives of university's privileged - The Guardian - February 12th, 2017 [February 12th, 2017]
- Leftism: From Bloody Tragedy to Therapeutic Parody - FrontPage Magazine - February 13th, 2017 [February 13th, 2017]
- Science: How to Get into the "Flow" and Do What Makes You Happiest - Big Think - February 13th, 2017 [February 13th, 2017]
- Weekend Arts: Find the Beethoven Music Festival, 'Avenue Q' and more in Tulsa this week - Tulsa World (blog) - February 15th, 2017 [February 15th, 2017]
- Now We Are 40 by Tiffanie Darke review a generation lost to hedonism and irony? - The Guardian - February 16th, 2017 [February 16th, 2017]
- Chefs to Watch for 2017 - Hedonism II, Negril - Jamaica Observer - February 16th, 2017 [February 16th, 2017]
- Hicks column: Schools should stick to the facts, as should everyone else - Charleston Post Courier - February 17th, 2017 [February 17th, 2017]
- Berlin Syndrome - The Upcoming - February 20th, 2017 [February 20th, 2017]
- Tears in the Club - PopMatters - February 20th, 2017 [February 20th, 2017]
- Chefs to Watch for 2017 - Hedonism II, Negril - Food ... - Jamaica Observer - February 20th, 2017 [February 20th, 2017]
- Hedonism II | CheapCaribbean.com - February 20th, 2017 [February 20th, 2017]
- Book review: 'The True Story of Guns N' Roses' will rock your world - Times LIVE - February 21st, 2017 [February 21st, 2017]
- Pleasures: the desert of life - Tulsa World - February 22nd, 2017 [February 22nd, 2017]
- Living Like a Hedonist - Daily Trojan Online - February 22nd, 2017 [February 22nd, 2017]
- How dirty do you like it? Revel in hedonism with You Pull It, the new EP from The Byzantines - Happy - February 23rd, 2017 [February 23rd, 2017]
- When did Britain stop being a nation of hedonists? - The Guardian - February 23rd, 2017 [February 23rd, 2017]
- What is Hedonism wines? Mayfair vendor owned by Russian exile counts Jose Mourinho among its clientele and ... - The Sun - February 24th, 2017 [February 24th, 2017]
- Pastor's column: Hedonism: Self-driven life of pleasure - Gridley Herald - February 24th, 2017 [February 24th, 2017]
- Look around the wine store where Ranieri's future was decided Mourinho loves this place! - Daily Star - February 25th, 2017 [February 25th, 2017]
- The Gooch Palms are a handful of hedonism - Mandurah Mail - March 7th, 2017 [March 7th, 2017]
- Jose Cuervo's Apocalyptic Vision Encourages Hedonism 03/08/2017 - MediaPost Communications - March 8th, 2017 [March 8th, 2017]
- Europe conquers itself - Arutz Sheva - April 8th, 2017 [April 8th, 2017]
- Hedonism alone didn't kill George - Irish Independent - April 8th, 2017 [April 8th, 2017]
- Hedonism II All-inclusive Resort Reviews & Deals, Negril - June 7th, 2017 [June 7th, 2017]
- Phoenix: 'The purity of French identity is an illusion; it's never existed ... - The Guardian - June 8th, 2017 [June 8th, 2017]
- First-rate musical performance & production that's hard to fault: Garsington's Semele reviewed - Spectator.co.uk - June 8th, 2017 [June 8th, 2017]
- Guest Post: Bhante Suddhso Guidelines for Happiness - Patheos (blog) - June 9th, 2017 [June 9th, 2017]
- 'I trafficked women at a famous Hong Kong nightclub' - South China Morning Post - June 11th, 2017 [June 11th, 2017]
- Sydney Festival Film Review: Axoltl Overkill (Germany, 2017) burns up Berlin with heavily stylised hedonism - the AU review (blog) - June 11th, 2017 [June 11th, 2017]
- Fun Fair Shot Bar By Claudia Comte Brings Seor Frogs-Style ... - ARTnews - June 13th, 2017 [June 13th, 2017]
- On 'Ti Amo', Phoenix Combat Dark Times with Fun and Gelato - Vulture - June 16th, 2017 [June 16th, 2017]
- Honey-glazed, hedonistic, and hyper-real - Cherwell Online - June 16th, 2017 [June 16th, 2017]
- Review: True to the original, 'Cabaret' revival trades in hedonism, horror - Seattle Times - June 16th, 2017 [June 16th, 2017]
- Spanish Party Town Publishes 64 Rules to Stop Hedonism of Drunk Tourists - Heat Street - June 17th, 2017 [June 17th, 2017]
- WIL DARCANGELO: Hedonism has its advantages - Sentinel & Enterprise - June 17th, 2017 [June 17th, 2017]
- Comme des Garons' spring collection designed for a warehouse rave - The Guardian - June 26th, 2017 [June 26th, 2017]
- Considering a weekend in Ibiza? Our guide to the White Isle tells you where to eat, sleep, rave, repeat - Mirror.co.uk - June 29th, 2017 [June 29th, 2017]
- Norfolk makers of Wild Knight vodka score first London stockist - Norfolk Eastern Daily Press - June 30th, 2017 [June 30th, 2017]
- Hedonism II - Negril, Jamaica The Swinger Cruise - July 3rd, 2017 [July 3rd, 2017]
- Comic Legends: How Did 9/11 Change Strangers in Paradise's Ending? - CBR (blog) - July 3rd, 2017 [July 3rd, 2017]
- The kids are all white: can US festivals live up to their 'post-racial' promise? - The Guardian - July 4th, 2017 [July 4th, 2017]
- Cakes Da Killa on Clubbing, Labels and His Shanghai Debut ... - That's Online (registration) - July 4th, 2017 [July 4th, 2017]
- Claude Speeed is the trance-inspired ambient nomad documenting Berlin's rave sadness - FACT - July 5th, 2017 [July 5th, 2017]
- Reporter strips naked to quiz nude swingers on their love of wife-swapping in bizarre telly segment - The Sun - July 7th, 2017 [July 7th, 2017]
- Steve Vizard's Vigil at Arts Centre Melbourne reveals trauma ... - The Age - July 7th, 2017 [July 7th, 2017]
- Party Report: Hideout Festival 2017 - Deep House Amsterdam (press release) (blog) - July 11th, 2017 [July 11th, 2017]
- Wimbledon 2017: The tech behind the world's top tennis tournament - Ars Technica UK - July 12th, 2017 [July 12th, 2017]
- Exploring the world's first dog glamping site at NOS Alive music festival - Metro - July 12th, 2017 [July 12th, 2017]
- Hyundai has come a long way with its outstanding Ioniq Hybrid - Philly.com - July 14th, 2017 [July 14th, 2017]
- Why campus boys make the best husband materials - The Standard - July 15th, 2017 [July 15th, 2017]
- I demand a critical reappraisal of Kesha's brilliant, brilliant music - Salon - July 15th, 2017 [July 15th, 2017]
- Norfolk vodka brand joins London's jet set - Business Weekly - July 15th, 2017 [July 15th, 2017]
- Clean raving: how club culture went wild for wellness - The Guardian - July 16th, 2017 [July 16th, 2017]
- News Bites | Loewe Releases Ibiza-Inspired Record, Erdem x H&M - The Business of Fashion - July 16th, 2017 [July 16th, 2017]
- Crisis in leadership as bright minds avoid public service - The New Indian Express - July 16th, 2017 [July 16th, 2017]
- Woman seriously injured after falling off stage at Guns N' Roses show - The Times of Israel - July 16th, 2017 [July 16th, 2017]
- What's the Best Song, According to Science? - Gizmodo - July 17th, 2017 [July 17th, 2017]
- We Asked the Happiest People at Lovebox About Their Worries - Noisey - July 17th, 2017 [July 17th, 2017]
- Dance Like Nobody's Watching To Shock Machine's Unlimited Love Video - The FADER - July 17th, 2017 [July 17th, 2017]
- Gig review: Catfish and The Bottlemen at Don Valley Bowl, Sheffield - Yorkshire Evening Post - July 18th, 2017 [July 18th, 2017]
- Montreal's Ancient Future Festival Reveals 2017 Lineup with Hudson Mohawke, the Underachievers, Sam Paganini - Exclaim! - July 18th, 2017 [July 18th, 2017]
- Coexistence at the beach - Opelika Observer - July 20th, 2017 [July 20th, 2017]
- Ibiza: Where To Eat, Party And Beach - HuffPost UK - July 20th, 2017 [July 20th, 2017]
- Film Streams, Joslyn team for screening of 'Marie Antoinette' - Omaha World-Herald - July 20th, 2017 [July 20th, 2017]
- Hedonism II Hotel - Jamaica | Oyster.com Review & Photos - July 20th, 2017 [July 20th, 2017]
- Fiction review: Living the Dream - The Sydney Morning Herald - July 21st, 2017 [July 21st, 2017]
- Arcade Fire - 'Everything Now' Album Review - NME - NME.com - July 21st, 2017 [July 21st, 2017]
- Dream Hoarders - HuffPost - July 22nd, 2017 [July 22nd, 2017]
- PS Spotlight: Remembering celebrity fancy dress for the grand Cointreau Ball - The Sydney Morning Herald - July 22nd, 2017 [July 22nd, 2017]
- Last Night Guns N' Roses Played An Epic Set At The Apollo, Today Appetite For Destruction Turns 30 - Stereogum - July 22nd, 2017 [July 22nd, 2017]