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John Maynard Keynes

John Maynard Keynes is probably the most influential economist of the twentieth century and is often regarded as having revolutionized the perspective of the world with regards to the economy and the role of the government in society. His major work The General Theory of Employment, Interest and Money opened up the world to modern economic views and offered new methods of dealing with economic problems that countries faced. Many countries to this day have based their governments on Keynesian theories.
John Maynard Keynes provided the theoretical basis for government intervention in the economy through fiscal policy to achieve full employment. Keynes rejected the theories of the economists that believed that economy was self-correcting and could be expected to sustain low unemployment and high economic growth on a regular basis. Instead, he believed that the economy was subject to wide swings due to changing attitudes by business to investment. When optimistic, business would invest, ...

Posted by: Novelett Roberts

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