Who was John Maynard Keynes?
He was the son of British economist John Neville Keynes. He was a brilliant essayist with a wide-ranging mind. He made his reputation with a book on the theory of probability, not economics. He was also a man who never went through the boredom or the discipline of a graduate program in economics. He earned a bachelor’s degree and quit. Smart man. He was hired to lecture in economics program. He wrote his way into prominence. He was also a homosexual pervert who led a secret society heavily represented by other homosexual perverts. His ideas laid the foundation of the “mixed economy” – part free market, part government planning, and completely inflationary. As he grew older, his books became increasingly incoherent and steadily more popular, for each book increasingly promoted national economic planning. The politicians loved him: he was giving academic reasons for budget deficits, price controls, and monetary inflation. The younger economists loved him, for his ideas were creating life
Gay men are well known for their prominence in creative fields such as literature and the arts, but one of the most influential economists of all times, John Maynard Keynes, also had sexual relationships with men. Keynes was born June 5, 1883, in Cambridge, England, where his father was a lecturer on political economy and his mother was a social reformer and the first woman mayor of the town. Though born into the middle class, Keynes attended Eton and later King s College at Cambridge, with scholarships he earned based on his academic achievement. Soon after his arrival at the college, Keynes was invited to join the Apostles, an elite secret society. Among his fellow members were Lytton Strachey, Clive Bell, and Leonard Woolf. We repudiated entirely customary morals, conventions, and traditional wisdom, Keynes later recalled. We were, in the strict sense of the term, immoralists. While his studies focused on mathematics, Keynes was always fond of art and literature, and he preferred to
The 20th century’s guiding light of liberal economic theory. Born in 1883, Keynes was educated at Eton and Cambridge, and became a prolific writer on subjects ranging from philosophy to probability. He joined the British Treasury during World War I, representing it in negotiations in Versailles over the treaty that ended the war. His experience in Versailles led him to write The Economic Consequences of the Peace, in which he condemned the onerous reparations imposed on Germany and sagely predicted the ruin that loomed ahead for Europe. Such unconventional views left him out of political favor for much of the 1920s. But the market crash of 1929 increased demand for his theories—and counsel—on both sides of the Atlantic. In 1936, he published his magnum opus, The General Theory of Employment, Interest, and Money, which for decades exerted a profound influence on economic thinking and practice. What was the core of his economic theory? Disputing the classical free-market belief in an “in
Keynes was among the most important economists of the 20th century. Even his most vociferous contemporary critic, Friedrich Hayek, said that he was “the one really great man I ever knew, and for whom I had unbounded admiration”. Born in 1888, he was educated at Eton and Cambridge, where he studied economics. His influence steadily grew after he graduated in 1905; he warned of the disastrous consequences against the reparations that Germany was forced to pay after the First World War, and his views were borne out by the country’s hyperinflationary problems and the subsequent Great Depression. The work that really cemented his place in economic history, though, was 1936’s snappily titled General Theory of Employment, Interest and Money. What was his big idea? Most contemporary economists subscribed to the neoclassical theory that held that the problems of unemployment were best dealt with by leaving it to the market to reduce wage levels to a point at which employers would start to take
[EN] 10 Mar 2007, 11:08 am John Maynard Keynes, 1st Baron Keynes, CB (pronounced “cains”, IPA /keɪnz/) (5 June 1883 – 21 April 1946) was a British economist whose ideas, called Keynesian economics, had a major impact on modern economic and political theory as well as on many governments’ fiscal policies. He is particularly remembered for advocating interventionist government policy, by which the government would use fiscal and monetary measures to mitigate the adverse effects of economic recessions, depressions and booms. Economists consider him one of the main founders of modern theoretical macroeconomics. His expression “In the long run, we are all dead” is much-quoted. Born at 6 Harvey Road, Cambridge, John Maynard Keynes was the son of John Neville Keynes, an economics lecturer at Cambridge University, and Florence Ada Brown, a successful author and a social reformist. His younger brother Geoffrey Keynes (1887-1982) was a surgeon and bibliophile and his younger sister Margaret (189
