Reaganomics

3. Policies of output and economic growth
a) John Maynard Keynes- probably the most influential economist of the first half of the twentieth century. Keynes had immense intellectual powers, daring conception, and courage in his convictions. On the staff of the British delegation that negotiated peace after World War I, he regarded the terms of peace as the seeds of disaster, quickly resigned in protest, and wrote his criticisms in The Economic Consequences of the Peace in 1919.
Keynes became editor of the Economic Journal, one of the most important journals of economic research. During the Great Depression, Keynes was the leading figure in a group of primarily younger and very creative economists who attempted to understand and explain the disaster. Borrowing freely from their ideas, Keynes published The General Theory of Employment, Interest and Money. The General Theory, as it is known, founded modern macroeconomics- virtually all work in that field emerges from Keyne...