J. М. Keynes and new liberalism in England

The article considers political activity of an outstanding economist John M. Keynes being a representative of English new liberalism. This sphere of his activity has not received a lot of attention from the researchers. The 1920-s was a very fruitful period in his political career. The article analyses Keynes's liberal ideas profoundly influenced by the intellectuals of the Bloomsberry Group and Manchester Radicals. The article states that at that time the moral issues of the western society were of great concern for him, he justified the need for the ethical grounds in economic politics and criticized the practice of saving the money as a primary goal. For this economist the elements of the same practice could be traced in the Soviet experiment. Supported by a Liberal Party John M. Keynes attempted to influence the policies of the ruling circles. Being a leading author he participated in the development of new liberalism policy documents. The article shows that the basics of Keynesian economics as a school of thought which underlay the modern system of state regulation were formulated in the documents and the works of Keynes. It is worth noting that Keynesianism appeared in England, where the situation at that time was very promising for the development of capital modernisation ideas on the basis of liberal reformism. A left intellectual Keynes tried to combine liberal and social democratic values attaching special importance to the full employment policy and social justice principle.