Keynes ended with this ominous warning.

In 1995, Simon Keynes observed that " if Bede's concept of the Southumbrian overlord, and the chronicler's concept of the ' Bretwalda ', are to be regarded as artificial constructs, which have no validity outside the context of the literary works in which they appear, we are released from the assumptions about political development which they seem to involve ... we might ask whether kings in the eighth and ninth centuries were quite so obsessed with the establishment of a pan-Southumbrian state ".

However, in more recent years, since the end of the Bretton Woods system in 1971, with the increasing influence of Monetarist schools of thought in the 1980s, and particularly in the face of large sustained trade imbalances, these concerns — and particularly concerns about the destabilising effects of large trade surpluses — have largely disappeared from mainstream economics discourse and Keynes ' insights have slipped from view.

Keynes asked his friend Piero Sraffa to respond publicly to Hayek's challenge ; instead of formulating an alternative theory, Sraffa elaborated on the logical inconsistencies of Hayek's argument, especially concerning the effect of inflation-induced " forced savings " on the capital sector and about the definition of a " natural " interest rate in a growing economy.

Keynes ' theory was significant because it overturned the mainstream thought of the time and brought about a greater awareness that problems such as unemployment is not a product of laziness, but the result of a structural inadequacy in the economic system.

After Keynes's death Schumpeter wrote a brief biographical piece called Keynes the Economist – on a personal level he was very positive about Keynes as a man ; praising his pleasant nature, courtesy and kindness.

Keynes has been characterised as being indifferent or even positive about inflation.

However, Keynes was consistently adamant about the need to avoid inflation where possible.

Keynes was open about his homosexual affairs, and between 1901 to 1915, kept separate diaries in which he tabulated his many sexual encounters.

Attitudes in the Bloomsbury Group, in which Keynes was avidly involved, were relaxed about homosexuality.

* Horsted Keynes history Article about the house where A. C. Benson lived and possibly where the poem was written

The stiffest opposition to Smyth's work has come from former Cambridge Professor Michael Lapidge and Professor Simon Keynes, still an eminent Cambridge Saxonist, who themselves collaborated on a book about Alfred the Great.

Professor Keynes felt strongly enough about the subject to place a copy of Smyth's book in the fire grate of his residence in Trinity College and then photograph it for his personal website.

It is about north of Milton Keynes and south of Northampton near junction 15 of the M1 motorway.

This produced more than 30 communities, the first being Stevenage, Hertfordshire ( about halfway between Letchworth and Welwyn ), and the last ( and largest ) being Milton Keynes, Buckinghamshire.

There was much discussion about the names adopted for most of the colleges with the following alternative names all in consideration at one point or another: for Eliot: Caxton, after William Caxton ; for Keynes: Richborough, a town in Kent ; Anselm, a former Archbishop of Canterbury ; and for Darwin: Anselm ( again ); Attlee, after Clement Attlee, the post war Prime Minister ; Becket, after Thomas Becket, another former Archbishop ( this was the recommendation of the college's provisional committee but rejected by the Senate ); Conrad ; Elgar, after Edward Elgar ; Maitland ; Marlowe, after Christopher Marlowe ; Russell, after Bertrand Russell ( this was the recommendation of the Senate but rejected by the Council ); Tyler, after both Wat Tyler and Tyler Hill on which the campus stands.

The town is about south-west of Northampton and about north-west of Milton Keynes, the nearest main towns.

Kempston serves principally as a dormitory town for Bedford and for Milton Keynes, which is about ten miles away.

Keynes argued that changes in investor ’ s expectations about respect to the state of the economy.

* Robert Skidelsky, John Maynard Keynes: Fighting for Britain, 1937 – 1946 ( about John Maynard Keynes )

It is situated about southeast of the centre of Milton Keynes, and about south of junction 13 of the M1 motorway and is a tourist attraction.

" Per John Maynard Keynes " By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens ".

Keynes had indeed expressed a preference for inflation over deflation, saying that if one has to choose between the two evils it is " better to disappoint the rentier " than to inflict pain on working-class families.

Keynes remained convinced of the dangers of inflation to the end of his life ; during World War II he argued strongly for policies that would minimise post-war inflation.

Although Keynes explicitly addresses inflation, The General Theory does not treat it as an essentially monetary phenomenon nor suggest that control of the money supply or interest rates is the key remedy for inflation.

Keynes had only predicted that falling unemployment would cause a higher price, not a higher inflation rate.

The panels pun on the names of then-topical UK political and economics figures Chris Patten, Baron Patten of Barnes | Chris Patten ( a former Minister of State | Minister for Education ) and Chancellor of the Exchequer | Chancellor Norman Lamont, Baron Lamont of Lerwick | Norman Lamont and well-known economist John Maynard Keynes | John Keynes, and comments on the twin issues of grade inflation within UK education and the European Exchange Rate Mechanism within economics, and the call for a " return to basics " in both, both issues being topical at the time .</ p >< p style =" font-size: 90 %">( Example from " Alex calls the shots " ( 1993 ))</ p >

Keynes outlined the causes of high inflation and economic stagnation in post-WWI Europe in The Economic Consequences of the Peace.

Keynes explicitly pointed out the relationship between governments printing money and inflation.

Keynes detailed the relationship between German government deficits and inflation.

* Burns, Arthur Frank, Prosperity without inflation, Buffalo, Smith, Keynes & Marshall ; distributed by Doubleday, Garden City, N. Y., 1958

In his Tract on Monetary Reform ( 1923 ), John Maynard Keynes advocated what we would now call an inflation targeting scheme.

In the context of sudden inflations and deflations in the international economy right after World War I, Keynes recommended a policy of exchange rate flexibility, appreciating the currency as a response to international inflation and depreciating it when there are international deflationary forces, so that internal prices remained more or less stable.

Keynes said mercantilist policies generally improved both domestic and foreign investment.

John Maynard Keynes, who had not predicted the slump, said, "' There will be no serious direct consequences in London.

John Maynard Keynes, who had not predicted the slump, said, "' There will be no serious direct consequences in London.

In 1935 a survey of American academics said Married Love was one of the 25 most influential books of the previous 50 years, ahead of Relativity by Albert Einstein, Interpretation of Dreams by Sigmund Freud, Mein Kampf by Adolf Hitler and The Economic Consequences of the Peace by John Maynard Keynes.

By the end of his life, it can be said that Schumacher's personal development had led him very far afield from the ideas of John Maynard Keynes.

John Maynard Keynes said of it: " In my opinion it is a grand book ... Morally and philosophically I find myself in agreement with virtually the whole of it: and not only in agreement with it, but in deeply moved agreement.

" Having said that, Keynes did not think Hayek's philosophy was of practical use ; this was explained later in the same letter, through the following comment: " What we need therefore, in my opinion, is not a change in our economic programmes, which would only lead in practice to disillusion with the results of your philosophy ; but perhaps even the contrary, namely, an enlargement of them.

Keynes said that a drop in aggregate demand could lower employment and the price level ( an everyday concept in the deflationary depression ).

For example, Milton Keynes is said to be " off junction 13 " of the M1.