Discussion Paper Series in Economics, Department of Economics, Norwegian School of Economics (NHH)
Bjørn L. Basberg
Keynes, Trouton and the Hector Whaling Company. A personal and professional relationship.
Abstract: John Maynard Keynes’ activities on the stock market are
well known. One company in which he bought stocks was the Hector Whaling
Company Ltd., London – a comparatively small and little known company
founded in 1928. The director of this company was Rupert Trouton. He had
worked with Keynes for the Government during the First World War, was his
student at Cambridge, and became a close partner in the City from the 1920s
and onwards. The reason why Keynes invested in Hector was obviously his
association with Rupert Trouton. The first part of this paper explores
briefly the development of the Hector Whaling Company and its origins in
Norway. The main part analyses the relationship between Trouton and Keynes.
The focus is on their co-operation relating to Hector Whaling, but their
relationship regarding various other businesses, as well as on the personal
level, is also described. The paper is based on studies of the Keynes
archives in Cambridge as well as newly available archives of the Hector
company. The analysis provides new insights to the more general question on
the motivations and decisions behind Keynes’ stock market investments as
well as the internationalization of the whaling industry in the 1920s and
Keywords: John Maynard Keynes; stock market; whaling history; Hector Whaling Company.; (follow links to similar papers)
JEL-Codes: B26; N24; N84; (follow links to similar papers)
28 pages, April 13, 2015
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