Keynesian economics gets its name, theories, and principles from british economist john maynard keynes 18831946, who is regarded as the founder of modern macroeconomics. A brilliant child, he wrestled with the economic meaning of interest before he was 5 years old. His theories of keynesian economics addressed, among other things, the causes of long. Jun 23, 2017 john maynard keynes was arguably the greatest economist of the 20th century. The general theory of employment, interest and money transformed economics and changed the face of modern macroeconomics. Macmillan cambridge university press, for royal economic society in 1936. John maynard keynes, an english economist, is regarded as the most important and influential economist of the twentieth century, if not of all time.
He excelled both as a student and as a member of the debating team at eton. The book constituted a vast assault on the classical economics tradition in which he had been raised. John maynard keynes 1936 the general theory of employment. In the pop u lar press and in the writings of many economists, keynes featured prominently as governments around the world urgently sought ways to avoid economic collapse. Keynes profoundly influenced the new deal and created the basis for classic economic theory. His most important work, the general theory of employment, interest and money, advocated a remedy for recession based on a governmentsponsored policy of full employment. John maynard keynes biography, theory, economics, books. Additional writings by john maynard keynes related to the general theory, its composition and replies. The general theory of employment, interest, and money by john maynard keynes bibliography. I can think of no single book that has so changed the conception held by economists as to the working of the capitalist system robert l. Keynesian economic theory 1 excerpted from the profile of. Arguably one of the most important books written on political economy in the 20th century, the general theory of employment, interest, and money by john maynard keynes is no easy read. He discovered the idea that governments should stimulate demand during economic downturns and was the creator of. The general theory of employment, interest, and money john maynard keynes table of contents preface preface to the german edition preface to the japanese edition preface to the french edition book i.
Thus, why it took me a number of years to finally finish the book, however, having done so, i feel i have a more grounded understanding of his arguments. Dec 31, 2006 john maynard keynes, an english economist, is regarded as the most important and influential economist of the twentieth century, if not of all time. The era that had nurtured classical economics had been destroyed by the first world war, and for keynes the cataclysms since. The general theory of employment, interest and money by john. John maynard keynes was an early 20thcentury british economist, known as the father of keynesian economics. The general theory of employment, interest and money of 1936 is the last and most important book by the english economist john maynard keynes. Keynes argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money.
His most famous work, the general theory of employment, interest and money, was published in 1936. Keynesian economics was developed by the british economist john maynard keynes. The general theory of employment, interest and money by john maynard keynes, fellow of the kings college, cambridge, published by harcourt, brace and company, and printed in the u. John maynard keynes was arguably the greatest economist of the 20th century. The general theory of employment, interest and money of 1936 is the last and most important citation needed book by the english economist john maynard keynes.
A monetary theory of production, 1933, festschrift fur arthur spiethoff fluctuations in net investment in the united states, 1936, economic journal sep pdf corrections from kuznets. 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. Keynesian economics serves as a sort of yardstick that can define virtually all economists who came after him. Oct 01, 2019 john maynard keynes was an early 20thcentury british economist, known as the father of keynesian economics. Apr 11, 2019 keynesian economics is an economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics is an economic theory of total spending in the economy and its effects on output and inflation. So influential was john maynard keynes in the middle third of the twentieth century that an entire school of modern thought bears his name. The general theory of employment, interest, and money. A tutorial raul rojas freie universitat berlin january 2012 this small overview of the general theory is the kind of summary i would have liked to have read, before embarking in a comprehensive study of the general theory at the time i was a student. The general theory of employment, interest, and money john. John maynard keynes was born in cambridge, cambridgeshire, england, to an uppermiddleclass family. The general theory of employment, interest, and money by. John maynard keynes, english economist, journalist, and financier, best known for his economic theories on the causes of prolonged unemployment.
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