John Maynard Keynes

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by JStan44
Last updated 6 years ago

Discipline:
Social Studies
Subject:
Economics
Grade:
12

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John Maynard Keynes

Favourite Quotes"Long run is a misleading guide to current affairs. In the long run we are all dead.""Ideas shape the course of history"."The importance of money flows from it being a link between the present and the future".

John Maynard Keynes

Weblinkshttp://www.maynardkeynes.org/http://www.bbc.co.uk/history/historic_figures/keynes_john_maynard.shtmlhttp://www.biography.com/people/john-maynard-keynes-9364200#!

EducationFather was an economist. Mother was town's first female Mayor. John Keynes attended King's College in Cambridge and earned a Degree in Mathematics.

ActivitiesJohn Keynes was a journalist and economist and enjoyed writing books and creating new ideas about economics. He invented many ideas based on saving money and helping employment.

Keynesian EconomicsKeynes advocated increasing government expeditures and lower taxes to stimulate demand and pull the global economy out of the depression. It was a "demand-side theory that focuses on change in the economy over the short run. He believed in the concept that optimal economic performance could be achieved and economic slumps prevented by influencing aggregate demand through the intervention of policies set by the government.

Economists Theory in Modern EconomyIn today's economy, if we increase government expeditures and lower income taxes, this would appear to stimulate demand and help the economy. However, increasing government expenditures, increases the country deficit which is already at high levels. Lowering income taxes, would result in less money for the government to spend in the economy. Therefore, it does not appear that the Keynesian theory would work in today's economy.

Favourite MusicClassical, Waltzand Ballroom.

Married in 1926 to Lydia Lopokova who was a Russian ballerina.

BiographyJohn Keynes was born on June 5, 1883 in Cambridge England. He was a British economist whose ideas affected the theory of macroeconomics. He taught economics at Cambridge University and served as an economic adviser to the British treasury during both World Wars. Also, he attended post-war international peace conferences as a representative of the British government. Appointed as a director of the Bank of England, which was Britain’s central bank. He passed away on April 21, 1946.

Best Selling BookThe General Theory of Employment, Interest and Mone

Deferred SavingsKeynes recommeneded that a portion of every worker's pay would be automatically invested in government war bonds that would not be cashed until after the war. These savings permitted Keynes to help stimuate investment by increasing production of consumer goods and help maintain employement levels.


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