John Maynard Keynes was an influential economist.

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 General Theory of Employment, Interest, and Money 1936

See also[]

Socialist Calculation Debate