Tag Archives: Politics

Economist who shaped the next gen: John Maynard Keynes

Economist J M Keynes

John Maynard Keynes was an economist who changed the landscape of economics and politics in the 20th century. His principles laid the basis of a popular branch of economics that changed government forever, and his ideas still have a huge impact on the market, too. Keynes was born in 1883 in Great Britain. He died in 1943, having witnessed two wars that devastated the world and the Great Depression. The era he lived in helped shape his ideology as an economist, which then helped shape the next generation. Keynes was interested in the market, investments and, most importantly, government intervention in the market, especially in times of heightened troubles. Keynes is the father of Keynesian Economics. According to this branch of economics, during an economic depression, governments should borrow money and spend this on infrastructure and boost the economy. This would result in economic growth and development, which the government can use to repay the debt. Keynesian Economics led governments to become more active in the market, especially in order to support the economy. This indirectly led to the creation of the philosophy of neoliberalism. Keynes may have died in 1943, but his legacy still lives on. After all, not a lot of economists can claim to have changed the entire world for the good part of a century!