Tuesday, February 24, 2015

Was Keynesian Economics The Product Of A Guy Who Was SUPER High?


John Maynard Keynes, the namesake of Keynesian economics and among the most influential economists in history, was on a heavy regimen of mind-altering drugs when he negotiated with the United States to create the modern economic order, according to a British journalist and economic historian.

“It’s a little-known fact that John Maynard Keynes was dosed up on mind-altering drugs when he carried out one of the most important economic negotiations in British history,” writes Ed Conway for Medium. Conway is the economics editor of Sky News and recently authored the book “The Summit,” about the pivotal Bretton Woods Conference held in 1944.

Following the defeat of Germany in 1945, Keynes, in the last year of his life, was sent to the U.S. by the British government in order to negotiate an agreement to provide financial aid for his bankrupt government. Keynes was expected to play hardball with the Americans, extracting either a grant or an interest-free loan, and threatening to blow up negotiations if his country didn’t get its way.

Instead, in a baffling negotiating failure, Keynes entirely capitulated to American demands.

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