John Maynard Keynes

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by JohnEllerman
Last updated 6 years ago

Discipline:
Social Studies
Subject:
Historical biographies
Grade:
9,10,11,12

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John Maynard Keynes

John Maynard Keynes

Was born in 1883 in Cambridge.Won a scholarship to Eton college and another to Kings College where he graduated with a B.A. in Mathematics.Married Lydia Lopokova in 1925.Worked with the British government during both world wars.Wrote books and other works on economic theories including but not limited to Treatise on Money, The Means to Prosperity, and The General Theory of Employment, Interest and Money.

Economic Theories

1883 - Born1904- Graduated Kings College1925 - Married1933 - Means to Prosperity1936 - The General1946- Died

Savings will exceed Investment spending if interest rates are too high which will cause Unemployment to rise.AD is the sum of Consumption and Investment spending.Price Stickiness - The reality that workers aren't willing to take wage cutsMultiplier EffectWithout Government Spending, an economy can be trapped in a low employment equillibrium.

Lasting Impact

Keyne's theories are still used by governments and taught in schools today.

Citations

-Briggs, Brad. "John Maynard Keynes: The Man Who Transformed The Economic World." Investing Answers. N.p., 21 Jan. 2010. Web. .-"John Maynard Keynes." Wikipedia. Wikimedia Foundation, n.d. Web. .

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