John Maynard

John Maynard Keynes was a British economist whose ideas significantly changed how economics is understood. In the early 20th century, he argued that government intervention is necessary to manage economic cycles, particularly during recessions. His most famous work, "The General Theory of Employment, Interest, and Money," challenged the idea that markets are always self-correcting. Keynes believed that during tough times, increased government spending could help boost demand and reduce unemployment. His theories laid the foundation for modern macroeconomics and influenced government economic policies worldwide, especially during economic crises.