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• Theory of Economics does not furnish a body of settled conclusions immediately applicable to policy. It is a method rather than a doctrine, an apparatus of the mind, a technique of thinking which helps its possessor to draw correct conclusions. John Maynard Keynes
John Maynard Keynes (1883– 1946) • was an English economist whose writings during the 1920 s and 1930 s exerted an enormous impact on both economic theory and policy. • Keynes established the terminology and the economic framework that are still widely used when economists study problems of unemployment and inflation.