John Maynard Keynes

Paper Summary:

This paper assesses the contributions of John Maynard Keynes to today's economic environment. It looks at his upbringing and his education and looks at how he changed his mind many times during his career concerning particulars of all his economic theories. It also discusses some of his concepts that contributed most greatly to economic thought.

Outline
Other Basic Ideas
Current Realities
Basis of Current Realities
Reluctant Capitalist
Working Keynesianism
Summary

From the Paper:

"Keynes was not the sort of economist who sat down with graph paper, pens, and formulae and worked out prescriptions for precisely what government should do in the face of any given economic event, although Great Britain's Prime Ministers did seek his counsel. Rather, Keynes' ideas could be called a sort of economic humanism, which may account for their remaining popular in more modern times. Although Keynes supported an activist government, rather than one that completely let economics takes its course, he also believed that no matter what glitches occurred in the financial field, things would eventually work themselves out."

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