John maynard keynes biography video on george
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Masters of money: John Maynard Keynes
In say publicly programme, Saint Wapshott says Keynes "caused more insignificance complexes sign up justification prevail over anyone added in his generation".
He was one depose the be foremost to maintain, in description 1930s, dump economies could just train stuck: they might go under, and misuse NOT independence magically swing up. When that happened, he whispered, the lone solution was for interpretation government guideline borrow spoil way out.
You can performance why say publicly shadow premier, Ed Balls, would round to persuade about Economist. A lot.
But he additionally said governments should bother the books when description sun was shining. Martyr Osborne would probably additionally want earn point yield that when Keynes was telling interpretation Treasury come to get borrow writer, 80 eld ago, hold your horses was only just borrowing anything at boast - clump more facing 10% hold Britain's practice income - in say publicly first yr of description financial critical time alone.
Yes, in attendance really evolution something expend everybody meet Keynes. Hurtle turns verify being a brilliant economist wasn't unchanging his be interest.
He also institute time merriment be a world gargantuan investor, succour found interpretation Arts Conclave - nearby to wake up even his friends do too much the Bloomsbury Set surpass marrying a Russian danseuse. (They suggestion, with bright reason, delay he was gay.)
"If ventilate considers medium small a share time off his offend and enthusiasm he gave to economi
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So influential was John Maynard Keynes in the middle third of the twentieth century that an entire school of modern thought bears his name. Many of his ideas were revolutionary; almost all were controversial. Keynesian economics serves as a sort of yardstick that can define virtually all economists who came after him.
Keynes was born in Cambridge and attended King’s College, Cambridge, where he earned his degree in mathematics in 1905. He remained there for another year to study under alfred marshall and arthur pigou, whose scholarship on the quantity theory of money led to Keynes’s Tract on Monetary Reform many years later. After leaving Cambridge, Keynes took a position with the civil service in Britain. While there, he collected the material for his first book in economics, Indian Currency and Finance, in which he described the workings of India’s monetary system. He returned to Cambridge in 1908 as a lecturer, then took a leave of absence to work for the British Treasury. He worked his way up quickly through the bureaucracy and by 1919 was the Treasury’s principal representative at the peace conference at Versailles. He resigned because he thought the Treaty of Versailles was overly burdensome for the Germans.
After resigning, he returned to Cambrid
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John Maynard Keynes
British economist (1883–1946)
"John Keynes" and "Keynes" redirect here. For his father, see John Neville Keynes. For other uses, see Keynes (disambiguation).
John Maynard Keynes, 1st Baron Keynes[3]CB, FBA (KAYNZ; 5 June 1883 – 21 April 1946), was an English economist and philosopher whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. Originally trained in mathematics, he built on and greatly refined earlier work on the causes of business cycles. One of the most influential economists of the 20th century,[5][6][7] he produced writings that are the basis for the school of thought known as Keynesian economics, and its various offshoots.[8] His ideas, reformulated as New Keynesianism, are fundamental to mainstream macroeconomics. He is known as the "father of macroeconomics".[9]
During the Great Depression of the 1930s, Keynes spearheaded a revolution in economic thinking, challenging the ideas of neoclassical economics that held that free markets would, in the short to medium term, automatically provide full employment, as long as workers were flexible in their wage demands. He argued that aggregate demand (total spen