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Indian Currency and Finance by John Maynard Keynes

Indian Currency and Finance

by John Maynard Keynes
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Book cover type: Paperback
  • ISBN13: 9788121298186
  • Binding: Paperback
  • Subject: N/A
  • Publisher: Gyan Publishing House
  • Publisher Imprint: Gyan Publishing House
  • Publication Date:
  • Pages: 275
  • Original Price: INR 590.0
  • Language: English
  • Edition: N/A
  • Item Weight: 467 grams
  • BISAC Subject(s): N/A

1913 John had published his first book, Indian Currency and Finance. He was then appointed to the Royal Commission on Indian Currency and Finance – the same topic as his book – where Keynes showed considerable talent at applying economic theory to practical problems. The book is a 170-page “memorandum of complete grasp and mastery” narrating the early days of modern British and European, and, of course, Indian banking with maxims that apply to the Global Financial Crisis today, the year 2011 A.D.: “Everyone is reckoning in a crisis on everyone else.” “It is not the business of Government to hold any of the reserves the bankers ought to hold.” “The project [of a State Bank finally established on July 1, 1955] was smothered in the empty maxims of political wisdom.” “Intelligent amateurs who begin with the timidity of ignorance and leave office just when they are becoming properly secure of their ground”... running “one comic opera bank.” “The situation in its fundamentals has arisen before, so long as the relations of the House of Commons to India combine in a high degree responsibility and ignorance.

John Maynard Keynes, 1st Baron Keynes, CB, FBA KAYNZ; (1883 – 1946), was an English economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. Originally trained in mathematics, he built on and greatly refined earlier work on the causes of business cycles.One of the most influential economists of the 20th century, he produced writings that are the basis for the school of thought known as Keynesian economics, and its various offshoots. His ideas, reformulated as New Keynesianism, are fundamental to mainstream macroeconomics.Keynes' intellect was evident early in life; in 1902, he gained admittance to the competitive mathematics program at King's College at the University of Cambridge, where he went on to win Cambridge's prestigious Tomline Prize, awarded to the university's top mathematics student.

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