When David Ricardo started out in business at the age of twenty-one, his property base amounted to £800. By the time he died in 1823, a mere thirty years later, his estate was worth an unimaginable £675,000 to £775,000, from which he enjoyed a yearly income of £28,000. No other economist, not even John Maynard Keynes, has reached this level of affluence.
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On Display in the UK: The Failure of Keynesian Economics
The very birthplace of John Maynard Keynes, the United Kingdom, has become a petri dish in which to test his every economic prescription in a time of financial crisis. With a large and growing budget deficit, a declining pound, and accelerating inflation, the UK has been scrambling for a cure. And, for the most part, as in the US and elsewhere, the nation’s leadership has been looking to Keynes’ theories for guidance.
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