Keynes (John Maynard Keynes)

John Maynard Keynes was a British economist whose ideas transformed economic thought in the 20th century. He argued that during downturns, governments should actively boost the economy by increasing public spending and lowering taxes to create jobs and stimulate demand. Instead of relying only on markets to self-correct, Keynes believed government intervention could help prevent deep recessions and high unemployment. His ideas laid the foundation for modern macroeconomics and inspired policies to manage economic cycles, especially during periods of economic hardship.