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John Maynard Keynes
(1883 - 1946)
Indian Currency and Finance / A Treatise On Money. In Two Volumes [Set of two]



  • John Maynard Keynes, Indian Currency and Finance, London: Macmillan and Co., Limited, 1913

    pp. viii + 261 pages including black and white chart showing the rate of discount at the Presidency Bank of Bengal; publisher's original brown canvas hardcover, title in gilt on spine.
    8.8 x 5.7 in (22.4 x 14.5 cm)

    Signed "H. T. Howard / augt. 1913." on the front pastedown.

    John Maynard Keynes was the greatest economist. Incidentally, this book was his first book on India and first major work on Economics and Indian Finance.

    Between 1906 and 1908, Keynes served as a civil servant with the India Office in Whitehall. This book is the outcome of his two years at the India Office and is based on the lectures he gave at the London School of Economics in 1911. The publication of the book coincided with Keynes' appointment as the secretary of the Royal Commission to examine Indian Finance and Currency,- in 1913.

    "The best English work on the gold exchange standard. Though the book of 1913 contains none of those characteristic propositions of the book of 1936 [General Theory] that have been felt to be so 'revolutionary,' the general attitude taken toward monetary phenomena and monetary policy by the Keynes of 1913 clearly foreshadowed that of the Keynes of the Treatise (1930)." (Schumpeter, Ten Great Economists, pp. 260-91).

  • John Maynard Keynes, A Treatise On Money, London: MacMillan & Co., Limited, 1930

    In 2 Volumes
    Volume I: The Pure Theory of Money, xvii + 363 pages
    Volume II: The Applied Theory of Money, viii + 424 pages

    original publisher's blue cloth with gilt lettering and ruling to spines with publishers original brown paper, black printed dust wrappers (each)
    8.8 x 5.9 in (22.5 x 15 cm) (each)

    Published on 24 October 1930, Treatise was “the first of Keynes’s two major contributions to economic theory”.

    John Maynard Keynes, (1883-1946) was, at once, a “philosopher, economist, editor, pamphleteer, company chairman, college bursar, patron of the arts and intimate friend of writers and artists, government spokesman and adviser.” Nonetheless, “It is primarily as an economist that Keynes is remembered” and in which his influence is most conspicuously manifest.

    In the summer of 1924, Keynes began his comprehensive academic examination of monetary theory. During the six years that followed the publication of his two-volume Treatise, was published, “Keynes was rethinking his theories of economic fluctuations, writing parts of the book at intervals while occupied in many other directions.” Among these was Keynes’s vigorous opposition to Britain’s return to the gold standard under then-Chancellor of the Exchequer Winston S. Churchill. In the final year before publication came the Wall Street crash. “In November 1929… Keynes was appointed a member of the Macmillan committee on finance and industry, set up by the Labour government to report on how the banking system affected the working of the economy. Two months later he was asked to join the Economic Advisory Council, made up of senior ministers and an assorted group of outside experts…” Publication of A Treatise on Money came “simultaneously with the end of the committee of economists”. (ODNB)

    In a world experiencing The Great Depression, the work was timely and meaningful. Keynes’s “most famous work, The General Theory of Employment, Interest and Money, was published in 1936. But its 1930 precursor, A Treatise on Money, is often regarded as more important to economic thought… Keynes, in Treatise, created a dynamic approach that converted economics into a study of the flow of incomes and expenditures.”

    The Treatise makes several key arguments, such as the idea that the best course of action is to promote spending and discourage saving and the notion that “governments should solve problems in the short run rather than wait for market forces to fix things over the long run.”

    (Set of two)

    NON-EXPORTABLE



    •   Lot 43 of 50  

    THE GENTLEMAN‘S SALE
    16-17 NOVEMBER 2022
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    Category: Books


     









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