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John Maynard Keynes was born in Cambridge, England, in June 1883 to an upper-middle-class family. His father, John Neville Keynes , was an economist and a lecturer in moral sciences at the University of Cambridge and his mother, Florence Ada Keynes , a local social reformer.
John Maynard Keynes believed that the products of surplus countries should be taxed to avoid trade imbalances. [95] Thus he no longer believes in the theory of comparative advantage (on which free trade is based) which states that the trade deficit does not matter, since trade is mutually beneficial.
Vol. 1. Hopes Betrayed 1833-1920 (1983) focuses on Keynes's early life, education, and his emergence as a public intellectual during World War I.Vol. 2. The Economist as Saviour, 1920-37 (1992) covers Keynes's contributions to economics, his involvement in international affairs, and his rise to a prominent economist.
The General Theory of Employment, Interest and Money is a book by English economist John Maynard Keynes published in February 1936. It caused a profound shift in economic thought, [1] giving macroeconomics a central place in economic theory and contributing much of its terminology [2] – the "Keynesian Revolution". It had equally powerful ...
Marxism and Keynesianism is a method of understanding and comparing the works of influential economists John Maynard Keynes and Karl Marx.Both men's works has fostered respective schools of economic thought (Marxian economics and Keynesian economics) that have had significant influence in various academic circles as well as in influencing government policy of various states.
The early stage of the Keynesian Revolution took place in the years following the publication of John Maynard Keynes' General Theory in 1936. It saw the neoclassical understanding of employment replaced with Keynes' view that demand, and not supply, is the driving factor determining levels of employment. This provided Keynes and his supporters ...
Keynes most notably clarified his Theory of Money in catty dialogue [2] with other economists of the day, such as Friedrich Hayek and Dennis Robertson. Keynes described his rejoinder as such “in my Rejoinder to Mr. D. H. Robertson, Published in the Economic Journal for September, 1931, I have endeavoured to re-state in a clearer way what my ...
Keynes, John Maynard (1921). A Treatise on Probability. London: Macmillan; Keynes, John Maynard (1922). A revision of the Treaty, being a sequel to The economic consequences of the peace. London: Macmillan; Keynes, John Maynard (1936). General Theory Of Employment, Interest And Money. London: Macmillan. Keynes, John Maynard (1949).