John Maynard Keynes

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DEFINITION of 'John Maynard Keynes'

An author and economist who is well-known for his stance that national governments should attempt to smooth out the effects of expansion and contraction in the business cycle by using fiscal and monetary policy. Keynes is regarded as one of the founding fathers of modern day macroeconomic theory, and his views on economic theory have developed into a subset of economic theory called "Keynesian economics".

INVESTOPEDIA EXPLAINS 'John Maynard Keynes'

Keynes was one of the most groundbreaking economists of his day. He created many of the new ideas that went on to become accepted post World War II. Many national governments began to follow certain macroeconomic statistics more closely, including interest rates and employment because of Keynes academic efforts.

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