JOHN MAYNARD KEYNES June 5 1883 April

JOHN MAYNARD KEYNES (June 5, 1883 – April 21, 1946)

THE EARLY YEARS OF JOHN • Keynes was born in Cambridge, June 5, 1883, the son of the famous economist, Professor of Economics and Philosophy at Cambridge University, John Neville Keynes, and his mother Florence Ada Brown, a successful writer.

• In 1908 he became a lecturer in economics. Contact Cambridge he retains all his life. • His life aspirations were varied as the interests in learning. He became chairman of a large insurance company and manager of the investment company.

THE PERIOD OF THE FIRST WORLD WAR • At the beginning of the I World War, Keynes worked as an economic adviser in the Ministry of Finance. • Articles "Economic Consequences of the Peace" and "The revision of the peace treaty, " brought him immense popularity. • In 1930 he published his two-volume "Treatise on Money. " Keynes came to the final conclusion that entire economic theory needs a radical update.

KEYNES AND THE GENERAL THEORY OF EMPLOYMENT, INTEREST AND MONEY: • Keynes laid out many of the ideas in his famous book, The General Theory of Employment, Interest and Money. This book, published in 1936, was written in response to the Great Depression of the 1930 s.

THE GENERAL THEORY OF EMPLOYMENT, INTEREST AND MONEY • Keynes's book came to be known as "Keynesian Revolution". Here are the ideas of the revolution: a mature capitalist economy tends to automatically achieve economic equilibrium, that is to use all its resources, because exposed to periodic crises.

DURING WORLD WAR II • When the World War II, Keynes, an adviser of the Ministry of Finance and one of the directors of the Bank of England. However the most important is its role in developing the foundations of the postwar international monetary relations, which led to the creation in 1946 of the International Monetary Fund and the International Bank for Reconstruction and Development.

DEATH KEYNES AND DEVELOPMENT OF ITS INNOVATION • Keynes died in Firlej (Sussex county) April 21, 1946. But theory of Keynes is still alive. Modern economic theory is unthinkable without the contribution made by John. M. Keynes.

Thank you for attention!