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Write one term paper on a noted economist; John Maynard Keynes and Keynesian Economics
John Maynard Keynes And Keynesian Economics
Length: 3 pages (825 Words)
John Maynard Keynes and Keynesian Economics
John Maynard Keynes is hailed as one of the most influential economists in the world’s history. Deemed as the ‘father of Keynesian economics’, Keynes was a revolutionary thinker who sought to dissuade traditional economic thought from its emphasis on classical economics. John was born in 1883 to a distinguished upper-middle class family of John Neville Keynes and Florence Ada Keynes (Minsky 13). Keynes’ parents were said to be so supportive that they instituted a home-schooling session for the young Keynes. John Maynard Keynes was a precocious student who manifested a gift in arithmetic at an early age. In his preparatory school, the headmaster was sure Keynes would win a scholarship to Cambridge. That speculation turned out true as Keynes later landed a scholarship to Eton College. Displaying an exceptional talent in a wide variety of subjects, he contemplated studying philosophy. This thought occurred to him at a time when he was studying mathematics. In 1909, while studying the probability theory, Keynes published his first economics article. As this paper will show it, Keynes not only stirred a revolution in economic thinking but inspired a debate that enriched macroeconomics.