J. M. Keynes

The dialogue about the new economic policy: J. M. Keynes and V. I. Ulyanov-Lenin

Introduction. It is particularly interesting to study the achievements of outstanding personalities on the world scale, those who made a signifi cant contribution to economic science, played a crucial role in the international history of politics and economic activity, laid the prerequisites for the formation of original schools of economic thought, which were named after their founders. Such personalities were John Maynard Keynes and Vladimir Ilyich Ulyanov-Lenin. Methods and concepts. The term “dialogue”, meaning a conversation, an exchange of statements in spoken and written speech, precisely characterizes the format of correspondence communication between J. M. Keynes and V. I. Lenin. Having no personal acquaintance with each other, no mutual sympathies, the interlocutors addressed each other in publications and public speeches, setting out and commenting on the words and thoughts, deeds and actions, moral values, social and political ideals shared by the vis-a-vis. The dialogue between the two prominent persons dealt with the problems of developing and implementing a new economic policy in the international sphere and in certain countries. Analysis and interpretation. The immediate reason for the beginning of the dialogue was the publication of J. M. Keynes’ book “Economic Consequences of Peace” in December 1919, which repeatedly mentioned the name of V. I. Lenin. The dialogue of J. M. Keynes and V. I. Lenin took place not only in the format of publicly addressing each other, indicating the name of the interlocutor, but also in a hidden form of reminiscence – memories of what was said and heard, written and perceived by the counterpart. Results. The communication between J. M. Keynes and V. I. Lenin was maintained in the “Ab voce, ad rem” mode – from words to deeds. Serious thoughts expressed by the interlocutors found their real embodiment.

 Izv. Sarat. Univ. Economics. Management. Law, 2022, vol. 22, iss. 1
A century of J. M. Keynes’ macroeconomic masterpiece

Introduction. In this article, the point of view that recognizes J. M. Keynes’ book “The Economic Consequences of Peace” as his best work, dedicated to the results of the Versailles Peace Conference and published in December 1919, is substantiated. The uniqueness of this publication is due to the author’s participation in the negotiation process, expressing a personal position of protest against the content of the Versailles Peace Treaty and the destructive consequences of its implementation. Scientific review. The experience of macroeconomic research of the European economy transformations at the turn of the XIX–XX centuries is analyzed. The logic of the author’s concept development corresponded to the historical course of events: the economy of Europe before and after the war, on the eve of a peace treaty and the prospects for its post-war recovery. The chronological macroeconomic approach was relevant and productive. The scientific creativity of J. M. Keynes, presented in “The Economic Consequences of Peace”, was an original combination of a commitment to the tradition of English economic thought and an innovative understanding of extraordinary macroeconomic trends and extraordinary structural transformations of the economy. Conclusion. It explains the fundamental importance of the book “The Economic Consequences of Peace” in the scientific work of J. M. Keynes. In the process of its writing, bold, innovative ideas developed that served as a theoretical and methodological key to the formulation and solution of problems in the most famous book “The General Theory of Employment, Interest and Money”, published later. “The Economic Consequences of Peace” is a creation that deserves the status of a world economic thought classics, a masterpiece of macroeconomic theory that has not lost its scientific value and relevance in the century since its creation and publication.

 Izv. Sarat. Univ. Economics. Management. Law, 2021, vol. 21, iss. 1