John Maynard Keynes

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John Maynard Keynes was born in 1883 in Cambridge and died in 1946. It was because of his closest family that he got involved in the economy at an early age. After the studies in the area of mathematics and economics, he was appointed to the Royal Commission on Indian Currency and Finance. In 1908 he became a lecturer at Cambridge University. Throughout all his life Keynes was seriously involved in public affairs as well as studies of the economic life.

In 1919 Keynes published his work entitled " The Economic Consequences of the Peace". In the book he argued that the reparations which Germany was forced to pay to the victors in the war were too large and would lead to negative macroeconomic effects. The macroeconomic dependencies were also discussed in the work " A Treatise on Money" published in 1931. In the thirties, King's College at the University of Cambridge, where Keynes worked as a lecturer, was a place of a serious theoretical reflexion.

In 1936 the "General Theory of Employment, Interest and Money" was published. It was an important reference for Keynesians and an object of criticism of its opponents. Keynesian ideas were popularised through the articles written by Keynes for the "Economic Jounal". In 1944 he developed the plan of reform of the international monetary system. The Keynes Plan was presented by the Great Britain at the Bretton Woods Conference, being a plan competitive towards the plan of Harry Dexter White.

Major works

  • The Economic Consequences of the Peace (1919)
  • A Treatise on Money (1931)
  • General Theory of Employment, Interest and Money (1936)
  • How to pay for the war (1942)

See also:

John Maynard Keynesrecommended articles
Milton FriedmanThorstein VeblenJoseph StiglitzJacob MincerEqualization paymentGroup of eightJohn Stuart MillThomas Robert MalthusProtectionist policy


Author: Sławomir Pytel