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Apr 22, 2024 · British economist John Maynard Keynes was the founder of Keynesian economics. Keynesian economics argues that demand drives supply. To create jobs and boost consumer buying power during a...
Apr 16, 2024 · John Maynard Keynes was an English economist, journalist, and financier best known for his economic theories (Keynesian economics) on the causes of prolonged unemployment. His most important work, The General Theory of Employment, Interest and Money (1935–36), advocated a remedy for economic.
Keynesian economics, body of ideas set forth by John Maynard Keynes in his General Theory of Employment, Interest and Money (1935–36) and other works, intended to provide a theoretical basis for government full-employment policies.
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t. e. John Maynard Keynes, 1st Baron Keynes, [3] CB, FBA ( / keɪnz / KAYNZ; 5 June 1883 – 21 April 1946), was an English economist and philosopher whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. Originally trained in mathematics, he built on and greatly refined earlier ...
- 5 June 1883, Cambridge, England
- King's College, Cambridge
- 21 April 1946 (aged 62), Tilton, near Firle in Sussex, England
- Keynesian economics
Keynesian economics (/ ˈ k eɪ n z i ə n / KAYN-zee-ən; sometimes Keynesianism, named after British economist John Maynard Keynes) are the various macroeconomic theories and models of how aggregate demand (total spending in the economy) strongly influences economic output and inflation.
Keynesian economics is based on two main ideas. First, aggregate demand is more likely than aggregate supply to be the primary cause of a short-run economic event like a recession. Second, wages and prices can be sticky, and so, in an economic downturn, unemployment can result.
