Thursday, June 2, 2011

Keynesian Economics

John Maynard Keynes was a British economist born in 1983. He spearheaded a revolution in the study and practice of macroeconomics that had a great effect on the 1930's and the recovery from the great depression. He came up with several ways of counterbalancing the natural boom and bust cycles of economies and advocated measures to reduce unemployment.

I have found Keynes to be a very interesting figure in my study of economics. He created of the of the most comprehensive theories on macroeconomics. I find it very interesting how so many politicians have begun advocating less sophisticated views of the economy as solutions. To me that means it's all the more imperative that we go back and study the history of this subject


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