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John Maynard Keynes, 1st Baron Keynes [3] CB, FBA (/ k eɪ n z / 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.
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.
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 ".
This is a set of lists of English personal and place names having spellings that are counterintuitive to their pronunciation because the spelling does not accord with conventional pronunciation associations. Many of these are degenerations in the pronunciation of names that originated in other languages.
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 ...
The series explores the lives of John Maynard Keynes, Friedrich Hayek, and Karl Marx, and their influence on modern economics. [2] Keynes is known for Keynesian economics and as an early pioneer of macroeconomics, Hayek is part of the Austrian School of economics, and Marx is known for communism and the theories that are collectively called ...
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 ...
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.