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| - John Maynard Keynes (Cambridge, 5 juni 1883 – Firle, East Sussex, 21 april 1946) was een Brits econoom. Hij is vooral bekend geworden door het boek The General Theory of Employment, Interest and Money (De algemene theorie over werkgelegenheid, rente en geld), waarin hij de Keynesiaanse theorie beschrijft, waarmee hij de grondlegger zou worden van het naar hem vernoemde Keynesianisme. Zijn boek wordt sinds de jaren '50 als de grondslag van de hedendaagse macro-economie, alhoewel het sinds de jaren '90 van de 20e eeuw aan populariteit heeft ingeboet.
- Keynes' influence spread throughout the United States in the 1930s and continued after his death into the 1970s. He argued that aggregate demand determined the level of economic activity, and that too little would cause mass unemployment. These ideas were so popular that leaders all over the world used them to aid their economies.
- The essence of Keynesian economics was that Governments could mitigate the boom bust cycle by borrowing and spending more in the Economic downturn and repaying those debts in the upturn. This reduces the pain of recessions and takes some of the craziness out of economic bubbles. Note repaying debts during good times is an important part of Keynsianism. When Greece and a few other European Nations borrowed and spent too much without repaying later this caused major economic crises.
- Lived: 1883-1946
* Famous Economist, Professor at the London School of Economics
* Active in the Stock Market
* Resigned the treaty delegation at Versailles
* Son of John Neville Keynes, cited by Milton Friedman, The Methodology of Positive Economics (1953), In as creating the three way destinction: Art of Economics, Positive Economics, and Normative Economics
- John Maynard Keynes, 1st Baron Keynes, CB FBA (5 June 1883–21 April 1946) was a British economist whose ideas have profoundly affected the theory and practice of modern macroeconomics, as well as the economic policies of governments. He greatly refined earlier work on the causes of business cycles, and advocated the use of fiscal and monetary measures to mitigate the adverse effects of economic recessions and depressions. Keynes is widely considered to be one of the founders of modern macroeconomics, and to be the most influential economist of the 20th century. His ideas are the basis for the school of thought known as Keynesian economics, as well as its various offshoots.
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| - John Maynard Keynes, 1st Baron Keynes, CB FBA (5 June 1883–21 April 1946) was a British economist whose ideas have profoundly affected the theory and practice of modern macroeconomics, as well as the economic policies of governments. He greatly refined earlier work on the causes of business cycles, and advocated the use of fiscal and monetary measures to mitigate the adverse effects of economic recessions and depressions. Keynes is widely considered to be one of the founders of modern macroeconomics, and to be the most influential economist of the 20th century. His ideas are the basis for the school of thought known as Keynesian economics, as well as its various offshoots. In the 1930s, Keynes spearheaded a revolution in economic thinking, overturning the older ideas of neoclassical economics that held that free markets would, in the short to medium term, automatically provide full employment, as long as workers were flexible in their wage demands. Keynes instead argued that aggregate demand determined the overall level of economic activity, and that inadequate aggregate demand could lead to prolonged periods of high unemployment. Following the outbreak of World War II, Keynes's ideas concerning economic policy were adopted by leading Western economies. During the 1950s and 1960s, the success of Keynesian economics resulted in almost all capitalist governments adopting its policy recommendations. Keynes's influence waned in the 1970s, partly as a result of problems that began to afflict the Anglo-American economies from the start of the decade, and partly because of critiques from Milton Friedman and other economists who were pessimistic about the ability of governments to regulate the business cycle with fiscal policy. However, the advent of the global financial crisis in 2007 caused a resurgence in Keynesian thought. Keynesian economics provided the theoretical underpinning for economic policies undertaken in response to the crisis by Presidents George W. Bush and Barack Obama of the United States, Prime Minister Gordon Brown of the United Kingdom, and other heads of governments. In 1999, Time magazine included Keynes in their list of the 100 most important and influential people of the 20th century, commenting that: "His radical idea that governments should spend money they don't have may have saved capitalism." In addition to being an economist, Keynes was also a civil servant, a director of the British Eugenics Society, a director of the Bank of England, a patron of the arts and an art collector, a part of the Bloomsbury Group of intellectuals, an advisor to several charitable trusts, a writer, a philosopher, a private investor, and a farmer.
- John Maynard Keynes (Cambridge, 5 juni 1883 – Firle, East Sussex, 21 april 1946) was een Brits econoom. Hij is vooral bekend geworden door het boek The General Theory of Employment, Interest and Money (De algemene theorie over werkgelegenheid, rente en geld), waarin hij de Keynesiaanse theorie beschrijft, waarmee hij de grondlegger zou worden van het naar hem vernoemde Keynesianisme. Zijn boek wordt sinds de jaren '50 als de grondslag van de hedendaagse macro-economie, alhoewel het sinds de jaren '90 van de 20e eeuw aan populariteit heeft ingeboet.
- Lived: 1883-1946
* Famous Economist, Professor at the London School of Economics
* Active in the Stock Market
* Resigned the treaty delegation at Versailles
* Son of John Neville Keynes, cited by Milton Friedman, The Methodology of Positive Economics (1953), In as creating the three way destinction: Art of Economics, Positive Economics, and Normative Economics Keynes poularized the idea that Governments did have a role in managing the economic considerations of a nation. Previously economists had resisted, and in fact were biased against (perhaps rightly so), involvement by government in economic policy. Major complications worldwide helped contribute to the percieved need for government intervention. Following from this urgentcy a new paradigm of economics was born -- Old Keynesian Economics.
- The essence of Keynesian economics was that Governments could mitigate the boom bust cycle by borrowing and spending more in the Economic downturn and repaying those debts in the upturn. This reduces the pain of recessions and takes some of the craziness out of economic bubbles. Note repaying debts during good times is an important part of Keynsianism. When Greece and a few other European Nations borrowed and spent too much without repaying later this caused major economic crises. Most Liberals recognize Keynes as the most important economist of the 20th Century. Most conservatives find it difficult to accept Keynes as both a leading intellectual and bisexual.
- Keynes' influence spread throughout the United States in the 1930s and continued after his death into the 1970s. He argued that aggregate demand determined the level of economic activity, and that too little would cause mass unemployment. These ideas were so popular that leaders all over the world used them to aid their economies.
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