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International Relations: Complexity, Interdependence and Multilateralism—A Tragic Dilemma

In: Keynes on Uncertainty and Tragic Happiness

Author

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  • Anna M. Carabelli

    (University of Eastern Piedmont Amedeo Avogadro)

Abstract

This chapter retraces Keynes’s way of reasoning on measure and on the role of tragic irreducible conflicts and dilemmas in his approach to international relations. The chapter shows how Keynes’s approach is a constant from his early Indian Currency and Finance (1913) to the General Theory and on to his Plan for Bretton Woods, the Clearing Union and his 1945 Memorandum. It also devotes great attention to the concept of the ‘fear of goods’ (a concept which stands for the love of money); a concept that Keynes borrows from mercantilism and he uses against mercantilist practices. This chapter again shows Keynes’s anti-utilitarian attitude and his dislike for the hoarding of money. Keynes is a moral scientist, a promoter of happiness scathingly critical of the love of money. The final part of the chapter is devoted to the current discussion on global imbalances and the euro-zone and to what Keynes would have proposed to overcome these global imbalances and the conditions for their reduction, had he been alive today.

Suggested Citation

  • Anna M. Carabelli, 2021. "International Relations: Complexity, Interdependence and Multilateralism—A Tragic Dilemma," Palgrave Studies in the History of Economic Thought, in: Keynes on Uncertainty and Tragic Happiness, chapter 0, pages 125-150, Palgrave Macmillan.
    • Handle: RePEc:pal:pshchp:978-3-030-75665-9_8
    DOI: 10.1007/978-3-030-75665-9_8
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