John Maynard Keynes


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John Maynard Keynes

A major British economist. He provided much of the intellectual foundation for the theory that government intervention is necessary to ensure an active and vibrant economy. According to this theory, government should stimulate demand for goods and services in order to encourage economic growth. It thus recommends tax cuts and increased government spending during recessions to reinvigorate growth; likewise, it recommends tax increases and spending cuts during economic expansion in order to combat inflation. His thought was extremely popular for much of the 20th century prior to the 1970s, when stagflation (which under Keynesian theory should not be possible) was prevalent in the UK and the US. However, Keynesianism resurged at the end of the first decade of the 2000s. Keynes lived from 1883 to 1946.
References in periodicals archive ?
Interest and Money, The Collected Writings of John Maynard Keynes, vol.
(1984) John Maynard Keynes: A Personal Biography of
On 23 December 1919, Lytton Strachey wrote to John Maynard Keynes, in relation to ECP that 'I admire the style very much.' (28) It might seem surprising that Strachey would appreciate a book on such a topic, but then again, some of the most compelling parts of the book, notably the character sketches of the political leaders who had met in Paris in 1919, were produced in a style that was startlingly close to his own, as when Keynes wrote that 'the President was like a Nonconformist minister, perhaps a Presbyterian.
En este contexto, la obra de John Maynard Keynes constituye un pilar clave en pro de la equidad distributiva como elemento favorable para el crecimiento economico, cuyos argumentos han sido posteriormente complementados por numerosas contribuciones realizadas, especialmente durante las ultimas decadas, desde opticas muy diversas, tanto desde el lado de la demanda como de la oferta, y en el marco de enfoques tan variados como el estructuralismo, el institucionalismo o el desarrollo humano.
By 1931, John Maynard Keynes had already established his bona fides as the world's foremost economist.
"Book Review: John Maynard Keynes, How To Pay for the War." Repr.
John Maynard Keynes may not have had a view on QPR v Newcastle but he knew how to make money
Thirdly, he refers to the Liberal economist John Maynard Keynes, but ignores that in a boom, the government should rein in public spending and build up reserves, whereas in a recession, the government should spend more to boost demand.
He was the creator of the widely used Edgeworth box, but historically not had as much attention as contemporaries Alfred Marshall, John Maynard Keynes, or Vilfredo Pareto.
The chief task that John Maynard Keynes set himself in writing his General Theory of Employment, Interest, and Money was to uncover the deep axioms underlying the economic orthodoxy of his day, which assumed away the possibility of persistent mass unemployment.
It was probably through fellow Bloomsbury circle member Osbert Sitwell that John Maynard Keynes met Lydia.
Many experts believe that John Maynard Keynes is one of the greatest economists to have ever graced this planet.