John Maynard Keynes

John Maynard Keynes, 1st Baron Keynes of Tilton (pronounced k?nz / kAnze), ) (June 5, 1883 – April 21, 1946) was an English economist, whose ideas had a major impact on modern economic and political theory as well as on Franklin D. Roosevelt's New Deal. He is particularly remembered for advocating interventionist government policy, by which the government would use fiscal and monetary measures to aim to mitigate the adverse effects of economic recessions, depressions and booms. He is considered by many to be the founder of modern macroeconomics.

Critique

The work 1930 Treatise on Money (2 volumes) was regarded as Keynes's best work by his frequent intellectual opponent, Milton Friedman. Friedman and other monetarists have argued that Keynesian Economists do not pay enough attention to stagflation and other inflationary issues.

Related Topics:
1930 - Milton Friedman - Keynesian Economists - Stagflation

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• Friedrich von Hayek reviewed the Treatise on Money so harshly that Keynes decided to set Piero Sraffa to review (and condemn no less harshly) Hayek's own competing work. The Keynes-Hayek conflict was but one battle in the Cambridge-LSE war.
• Ludwig von Mises
• Rational expectations

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