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John Maynard Keynes
John Maynard Keynes (1883-1946) is regarded as the father of modern Macroeconomics. Keynes was the son of an eminent English economists, Jon Neville Keynes, ho was a lecturer in economics and logic at Cambridge University. John Maynard Keynes was born in Cambridge, England and educated at Eton College and Cambridge University. There Keynes was educated on mathematics and probability theory, but he chose the field of economics to pursue. He chose economics when he accepted a lectureship in economics at the University of Cambridge. Keynes began his career at the India office of the British government. During this time in his career he wrote a book called “Indian Currency and Finance” in 1913. During World War I he worked in the treasury in which he represented at the Paris Peace Conference 1919. Keynes decided to resign his position in office because he disagreed with economic terms of the Treaty of Versailles. After resigning Keynes wrote another book called “The Economic Consequences of the Peace” in 1919. In this book he predicted that the staggering reparations levied against Germany would goad that country into economic nationalism and resurgence of militarism. Keynes being a well-educated man, made some great investments in a decades time. Within that decade he made his two million fortune by speculating in international currencies, stocks and commodities. In addition to his newly made fortune Keynes served as a trustee of King’s College and built it’s endowment from 30,000 to 380,000 pounds. Keynes went on to write other books like “Treaties on Probability” in 1921 and “The Treaties on Money” in 1930. (Lekachman/Miller). Being that the depression was at hand during the time, people reviewed Keynes theories, which they discovered did not really explain the prolonging of the recession. Keynes began to study this problem thoroughly which appeared in his major work, “The General Theory of Employment, Investment, and Money” ... Please login to view comments from other users.
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