John Maynard Keynes, Political Theory, Keynesian Economics

[appalachiablue]

- John Maynard Keynes (1883- 1946) was arguably the greatest economist of the 20th century. He discovered the idea that governments should stimulate demand during economic downturns – and was the creator of both the IMF and the World Bank. His ideas continue to underpin a lot of the modern economic system.
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John Maynard Keynes was an English economist, whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. Originally trained in mathematics, he built on and greatly refined earlier work on the causes of business cycles, and was one of the most influential economists of the 20th century. His ideas are the basis for the school of thought known as Keynesian economics, and its various offshoots. During the Great Depression of the 1930s, Keynes spearheaded a revolution in economic thinking, challenging the 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...

https://en.wikipedia.org/wiki/John_Maynard_Keynes

[turbinetree]

1. Wado................thank you

[appalachiablue]

2. Time for some economic stability & security.

[turbinetree]

3. Yepper spot on................

[rurallib]

4. Excellent and very timely

[bucolic_frolic]

5. Keynes married a Russian ballerina named Lopokova

https://en.wikipedia.org/wiki/John_Maynard_Keynes#Marriage

"What a marriage of beauty and brains, the fair Lopokova and John Maynard Keynes" was said at the time."