The Cambridge School of Economics

The Cambridge School of Economics refers to a group of economists and ideas that emerged from Cambridge University in the UK, particularly in the early to mid-20th century. Key figures include John Maynard Keynes, who advocated for active government intervention in the economy to manage demand and prevent downturns. This school of thought emphasizes the importance of uncertainty, human behavior, and macroeconomic factors, contrasting with more traditional views that focus solely on market equilibrium. The Cambridge School has significantly influenced modern economic theory and policy, particularly in areas related to employment, investment, and fiscal policy.