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THE TWENTIETH CENTURY ECONOMIST

JOHN MAYNARD KEYNES

June 5th 1893 – April 21st 1946

“If you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has”

AMELIE ALOYSIUS

ECON 2301

TUESDAY & THRUSDAY 11:30am – 12:45pm

AMELIE ALOYSIUS

ECON 2301

TUESDAY & THRUSDAY 11:30am – 12:45pm

John Maynard Keynes was born on 5th June 1883 in Cambridge, Cambridgeshire, England to John Neville Keynes and Florence Ada Keynes. Keynes was one of the most influential economists during the twentieth century, particularly through his economic theories termed ‘Keynesianism’ advocated government intervention to end the Great Depression. An author and economist who is well-known for his stance that national governments should attempt to smooth out the effects of expansion and contraction in the business cycle by using fiscal and monetary policy. Keynes is regarded as one of the founding fathers of modern day macroeconomic theory, and his views on economic theory have developed into a subset of economic theory called "Keynesian Economics”. Many of his ideas were revolutionary; almost all were controversial. Keynesian Economics serves as a sort of yardstick that can define virtually all economists who came after him.

John Maynard Keynes was born in Cambridge into a well-to-do academic family. His father was an economist and a philosopher; his mother became the town's first female mayor. In January 1889, at the age of five and a half, Keynes started at the kindergarten where he quickly showed a talent for arithmetic, but his health was poor leading to several long absences. In January 1892, at eight and a half, he started as a day pupil at a preparatory school. By 1894, Keynes was top of his class and excelling at mathematics. This proves his innate ability for his future achievements and thoughts. After earning a B.A. in 1905 and an M.A. in 1909, Keynes became a civil servant, taking a...