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8 - The Speculative Consequences of the Peace

Published online by Cambridge University Press:  14 December 2023

Patricia Clavin
Affiliation:
University of Oxford
Giancarlo Corsetti
Affiliation:
University of Cambridge
Maurice Obstfeld
Affiliation:
Peterson Institute for International Economics, Washington DC
Adam Tooze
Affiliation:
Columbia University, New York
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Summary

Keynes began actively trading in currencies almost as soon as he had published The Economic Consequences. Despite the advantages of being the leading economic thinker of his generation and possessing an enviable network of contacts with policymakers, his speculation met with mixed results. This chapter examines two issues: first, the influence which Keynes’ understanding of the post-war international economic and political situation had on his foreign exchange speculation strategy; and, second, the influence his experience as a speculator had on his political-economic theory in the years following the publication of his book.

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Publisher: Cambridge University Press
Print publication year: 2024

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