How to Pay for the war : a Radical plan for the Chancellor of the Exchequer - wikipedia How to Pay for the war : a Radical plan for the Chancellor of the Exchequer This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. ( October 2016 ) How to Pay for the War, 1940 How to Pay for the War : A Radical Plan for the Chancellor of the Exchequer is a book by John Maynard Keynes, published in 1940 by Macmillan and Co., Ltd... It is an application of Keynesian thinking and principles to a practical economic problem and a relatively late text. Keynes died in 1946. Summary In How to Pay for the War, John Maynard Keynes describes a macroeconomic strategy of how Britain, a nation with a population at the time of 40 million people, could conduct a long war against Germany, a nation of 80 millions. At the time How to Pay for the War was written, neither the United States nor the Soviet Union were at war with either Germany or Japan. As a result, the first step for Britain to effectively conduct a war against Germany was to mobilize all its resources for production. Thus, the first two chapters of How to Pay for the War, are an argument for the need for full employment and chapter 3, Our Output Capacity and The National Income, is a manual to achieve full employment. Keynes maintained, however, that the resources of Britain, even at full employment, would not suffice to conduct a war against Germany. Internally, Britain would need to increase production while reducing consumption and diverting resources to the war effort. Externally, Britain would have to be able to count on more resources than internally available, running as large a deficit as its allies were willing to allow. Chapters IV ( 4 ) to X ( 10 ) and appendices II ( 2 ) to IV ( 4 ) are dedicated to measures for allocating resources to the war effort, while controlling prices and reducing wartime consumption. Keynes outlined a plan for Deferred Pay that would, in part, be legislated in the Budget of Sir Kingsley Wood, Chancellor of the Exchequer. The deferred pay became a system of post-war credits which were progressively repaid after the war, albeit at reduced value. Keynes devotes much attention to price controls, proposing a number of measures to control ( but not planning to eliminate ) inflation, measures including deferred pay and forced savings. Most of the book, Chapters IV to X, is dedicated to the problems of resource allocation and price control. The book is an exercise in Keynesian macroeconomics, a prime example of Keynesian analysis and technique, by John Maynard Keynes himself. References Jump up ^ http://hansard.millbanksystems.com/commons/1972/mar/09/post-war-credits Retrieved from `` https://en.wikipedia.org/w/index.php?title=How_to_Pay_for_the_War:_A_Radical_Plan_for_the_Chancellor_of_the_Exchequer&oldid=812162533 '' Categories : Strategy Keynesian economics Inflation Books by John Maynard Keynes Full employment Hidden categories : Articles needing additional references from October 2016 All articles needing additional references Talk About Wikipedia Add links This page was last edited on 26 November 2017, at 09 : 45. About Wikipedia

Question: who wrote an article on war finance titled how to pay for the war
Answer: John Maynard Keynes