Keynesian Economics
John Maynard Keynes is uncertainly one the most important figures in the history of modern economics. The son of the Cambridge economist and logician John Neville Keynes, John Maynard Keynes was born in Cambridge, England on June 5, 1883. Keynes was educated in Britain's most elite institutions, Eton and then King's College Cambridge. In 1906, he entered the British civil service for a little while and worked in the Indian Treasury as a junior clerk. However, unsatisfied with the work he returned in 1908 to teach economics in Cambridge. In India he learned the demands of government service. In 1911 he became the editor of the Economic Journal, a position he would hold almost until the end of his life. During this time Keynes wrote his first economic book first book on Indian currency which was directly related to his experience at the India office. From 1914 to 1918, Keynes was called to the UK Treasury to aid with the financing of the British war economy. He excelled at his job and the authority he gained earned him a position with the British delegation to the Versailles Peace Conference in 1918. Keynes was dismayed at the unfair nature of the peace settlement, and was particularly opposed to the
Throughout the 1920s, Keynes remained active in public policy debates, guided mainly through his many articles in the Nation and Atheneum. He also wrote two famous pieces in condemnation of laissez-faire economic policy. In 1925 he married the Russian ballerina, Lydia Lopokova. In early 1936, his new book, The General Theory of Employment, Interest and Money finally came out. This heavily anticipated book was favorably timed for a world caught in the grips of the Great Depression. The novel made a great impact in both academic and political societies. With a history of heart attacks Keynes died on April 21, 1946. John Maynard Keynes was a highly educated man. However, much of his economic theories are representations of his real world experiences. Keynes was the author of many nationally acclaimed novels and articles. However, among the many very controversial two are still remembered today. One of which is Economic Consequences of the Peace. This was written in response to the Treaty of Versailles. Keynes believed that the conditions of the treaty were to stern on the German economy. He felt that the German economy would never be able to pay the reparations with such a st
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