Keynes, John Maynard (British economist)

John Maynard Keynes was a British economist whose ideas transformed economic thought and policy. He believed that during economic downturns, governments should actively intervene—by increasing spending and lowering taxes—to stimulate demand, promote employment, and stabilize the economy. His approach challenged the laissez-faire policies of the time, emphasizing that economic crises could be mitigated through government action. Keynes’ theories laid the foundation for modern macroeconomics and shaped policies used to recover from the Great Depression and manage economic crises today.