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John Maynard Keynes Essay

991 words - 4 pages

John Maynard Keynes was born June 5, 1885 in Cambridge, England. His father was an economist and philosopher and lectured at Cambridge University, while his mother was the first female mayor of their town. (BBC) At a young age Keynes was influenced by his father and began questioning what interest was. He had poor health which made it difficult to attend school when he was young but, he was instead tutored by a governess and his mother, who was one of the first female graduates from Cambridge University. (BCC) Math and history were two areas that he excelled when he started at primary school. He was one of twenty students to received a scholarship to Eton College that were awarded, at the ...view middle of the document...

(BBC) He took an official government position as at the Treasury and has been said to have been legendary which eventually lead him to be a representative at the Versailles peace conference in 1919. His experience at the Versailles peace conference was very influential to his future outlook but was not a successful experience for him. (Career Timeline) Soon afterwards he published “The Economic Consequences of the Peace” which he criticized the “exorbitant war reparations demanded from a defeated Germany and predicted that it would foster the desire for revenge among Germans”. (BBC)
In 1920, Keynes began to work on Treatise on Probability so it could be published. Six years had passes since he worked on it but, once it was published in 1921, it was one of his most important mathematical works. (Keynes Biography) Another important part of his life took place in the 1930s. Although Keynes was unemployed and depressed, there were events that needed more than the conventional economics with the traditional economic theory. He published another major work that steered away from the conventional approach of economics titled Treatise on Money. (Career Timeline) Towards the end of his life he published The General Theory of Employment, Interest and Money which culminated his ideas. In 1937, one of the last things he helped set up the International Monetary Fund before his death in 1946 after his health quickly deteriorated. (Maynard Keynes)
The major of contributions Keynes had for the world of economics is the Keynesian
theory of economics. This theory of economics claims that “productive activity is controlled by
the aggregate demand”. (Maynard Keynes) He also contributed to macroeconomics, which is a branch of economics that deals with the performance, structure, behavior and decision-making of an economy as a whole. (Keynes Biography) Within the macroeconomics theory, there is liquidity preference that refers to the demand for money, that is first addressed in his book The...

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