Capitalism is the extraordinary belief that the nastiest of men for the nastiest of motives will somehow work for the benefit of all.
John Maynard Keynes Quotes
We take it as a fundamental psychological rule of any modern community that, when its real income is increased, it will not increase its consumption by an equal absolute amount.
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| Birth: | 5th June, 1883 |
| Death: | 21st April, 1946 |
| Nationality: | British |
| Profession: | Economist |
About
John Maynard Keynes was born in Cambridge, Cambridgeshire, England. He was a British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. He was the founder of modern macroeconomics theory. His ideas are the basis for the school of thought known as Keynesian economics, and its various offshoots. In 1897, he won a scholarship to Eton College. He earned a BA degree in Mathematics from King's College, Cambridge University in 1904. By 1909 he had published his first professional economics article in the Economics Journal, about the effect of a recent global economic downturn on India. On being elected a fellow in 1911 he was made editor of The Economic Journal. He wrote several books include: Indian Currency and Finance, The Economic Consequences of the Peace, A Treatise on Probability, A Revision of the Treaty, A Treatise on Money, Essays in Persuasion, The General Theory of Employment, Interest and Money, and How to Pay for the War.
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