John Maynard Keynes

AAA

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.

RELATED TERMS
  1. Keynesian Economics

    An economic theory of total spending in the economy and its effects ...
  2. Animal Spirits

    A term used by John Maynard Keynes used in one of his economics ...
  3. Friedrich Hayek

    A famous economist born in Vienna, Austria, in 1899. Friedrich ...
  4. Economic Collapse

    A complete breakdown of a national, regional or territorial economy. ...
  5. Macroeconomics

    The field of economics that studies the behavior of the aggregate ...
  6. Monetary Policy

    The actions of a central bank, currency board or other regulatory ...
Related Articles
  1. How Influential Economists Changed Our ...
    Fundamental Analysis

    How Influential Economists Changed Our ...

  2. Understanding Supply-Side Economics
    Economics

    Understanding Supply-Side Economics

  3. The History Of Economic Thought
    Economics

    The History Of Economic Thought

  4. Explaining The World Through Macroeconomic ...
    Options & Futures

    Explaining The World Through Macroeconomic ...

Hot Definitions
  1. Halloween Strategy

    An investment technique in which an investor sells stocks before May 1 and refrains from reinvesting in the stock market ...
  2. Halloween Massacre

    Canada's decision to tax all income trusts domiciled in Canada. In October 2006, Canada's minister of finance, Jim Flaherty, ...
  3. Zombies

    Companies that continue to operate even though they are insolvent or near bankruptcy. Zombies often become casualties to ...
  4. Witching Hour

    The last hour of stock trading between 3pm (when the bond market closes) and 4pm EST. Witching hour is typically controlled ...
  5. October Effect

    The theory that stocks tend to decline during the month of October. The October effect is considered mainly to be a psychological ...
  6. Repurchase Agreement - Repo

    A form of short-term borrowing for dealers in government securities.
Trading Center