John Maynard Keynes, 1st Baron Keynes (1883-1946) was a English economist, whose The General Theory of Employment, Interest, and Money in 1936 proposed the prevention of financial crises and unemployment by adjusting demand through government control of credit and currency. He originated macroeconomics, the study of entire economies or economic systems.
Keynes was Fellow of King's College, Cambridge. He worked at the Treasury during World War I, and took part in the peace conference as chief Treasury representative, but resigned in protest against the financial terms of the treaty. He justified his action in The Economic Consequences of the Peace in 1919. His later economic works aroused much controversy.
Keynes led the British delegation at the Bretton Woods Conference in 1944, which set up the International Monetary Fund. His theories were widely accepted in the aftermath of World War II, and he was one of the most influential economists of the 20th century. His ideas are today often contrasted with those of monetarism.
Why is John Maynard Keynes famous?
John Maynard Keynes was a British economist who proposed the theory and practice of modern macroeconomics.