close

  
Filter options:

Freebase Commons Metaweb System Types /type

Object is not asserted on this topic.
Key

Freebase Commons Common /common

  • John Maynard Keynes, 1st Baron Keynes, CB, FBA was a British economist whose ideas have fundamentally affected the theory and practice of modern macroeconomics, and informed the economic policies of governments. He built on and greatly refined earlier work on the causes of business cycles, and is widely considered to be one of the founders of modern macroeconomics and the most influential economist of the 20th century. His ideas are the basis for the school of thought known as Keynesian economics, and its various offshoots. In the 1930s, Keynes spearheaded a revolution in economic thinking, overturning the older ideas of neoclassical economics that held that free markets would, in the short to medium term, automatically provide full employment, as long as workers were flexible in their wage demands. Keynes instead argued that aggregate demand determined the overall level of economic activity, and that inadequate aggregate demand could lead to prolonged periods of high unemployment. According to Keynesian economics, state intervention was necessary to moderate "boom and bust" cycles of economic activity. Wikipedia

Freebase Commons People /people

Quotations

Freebase Commons Media /media_common

Freebase Commons Influence /influence

Freebase Commons NYTimes /nytimes

Topic is not asserted on this topic. Assert type now.
  • top$002Freference$002Ftimestopics$002Fpeople$002Fk$002Fjohn_maynard_keynes

User Domain kweb /base/kwebbase

  • His theory of the causes of prolonged economic recession and his promotion of government-sponsored full employment was profoundly influential

Comments

Hide