Keynesian Economics essays

Keynesian Economics essays John Maynard Keynes is uncertainly one the most important figures in the history of modern economics. The son of the Cambridge economist and logician John Neville Keynes, John Maynard Keynes was born in Cambridge, England on June 5, 1883. Keynes was educated in Britains most elite institutions, Eton and then King's College Cambridge. In 1906, he entered the British civil service for a little while and worked in the Indian Treasury as a junior clerk. However, unsatisfied with the work he returned in 1908 to teach economics in Cambridge. In India he learned the demands of government service. In 1911 he became the editor of the Economic Journal, a position he would hold almost until the end of his life. During this time Keynes wrote his first economic book first book on Indian currency which was directly related to his experience at the India office. From 1914 to 1918, Keynes was called to the UK Treasury to aid with the financing of the British war economy. He excelled at his job and the authority he gained earned him a position with the British delegation to the Versailles Peace Conference in 1918. Keynes was dismayed at the unfair nature of the peace settlement, and was particularly opposed to the overwhelming consequences of the heavy "reparations" payments forced on Germany. In 1919 he resigned from the conference and in respond to the treaty he published his Economic Consequences of the Peace disapproving the Treaty of Versailles After returning to Cambridge in 1921, Keynes published his Treatise on Probability, where he took apart the classical theory of probability and started what now known as the "logical-relationist" theory of probability. Throughout the 1920s, Keynes remained active in public policy debates, guided mainly through his many articles in the Nation and Atheneum. He also wrote two famous pieces in condemnation of laissez-faire economic policy. In 1925 he married the R ...